A faithful Pilgrim reader posted a great question about taxes and insurance a few days ago. He’s in his mid-30’s and he is concerned about the taxes his family would have to pay on his 401k should he die. He was wondering if he should buy a universal life insurance policy in order to pick […]
Why This Couple Is Losing Their Money and Marriage
Bert is a friend and he and his wife created tremendous financial stress for themselves. I was glad he contacted me but after I listened to him for a bit my compassion sort of melted away. Even though the couple was struggling with credit card debt they continued to spend more than they earned. I really don’t […]
Reverse Stock Splits and Stock Splits Explained
Apple shares are going to split 7 to 1 on the close of business this Friday. Is this good or bad news for Apple shareholders? I thought I’d republish this post that explains how stock splits (and reverse stock splits) work to help shed some light on this upcoming event. Stock splits and reverse stock […]
Which is Better? A Will Or A Trust? Part Two
Yesterday we reviewed the pros and cons of having a will. Now let’s move on to the trust which is sometimes referred to as the living or family trust. You can create a living trust by simple executing a few documents. Once you do that the trust becomes a legal entity that you can transfer […]
Will Or Trust? Which is Best Part 1
My parents died in their 40s and had no Will or trust. As a result of this (and their complete lack of emergency planning) my siblings and I were scattered to the wind with almost no assets. This topic hits close to home. Fortunately, estate planning doesn’t have to be that complicated. When you die, […]
3 Money Mistakes You Shouldn’t Worry About Anymore
It’s smart to manage your financial life from a state of awareness. But fretting about past mistakes can be a problem. I know because I’ve made plenty of mistakes and then wasted years feeling terrible about them. Blah. Don’t get me wrong. When you make a money misstep there are priceless lessons to be learned. […]