How I Squandered My Inheritance at Age 18
Lyn Roman inherited a small trust fund, and spent it all in a year. But the lessons she learned from her mistakes, and how she bounced back from them, have been priceless.
inheritance
New Year, Same Beneficiaries? Here's Why You Need to Review
If you haven't checked the beneficiary designations on your financial accounts lately, you really should. It's quick, easy, and though it may not sound all that important, getting it squared away now could make a huge difference to your family later.
Inheriting a Retirement Account? Learn the Rules or You'll Regret It
We all know how hard it can be to build up a big enough nest egg for retirement. But because many retirees leave their IRAs and 401(k)s untouched as long as possible to avoid paying taxes, you might someday face the bittersweet experience of inheriting a retirement account.
Planning for Trouble: Money and Estate Tips for Every Age
Many people put off doing estate planning on the grounds that it's too complicated. But it's not that difficult, and the right moves can save both you and your family a lot of trouble down the road. Here are a few things to keep in mind for the various stages of your life.
Jean Chatzky on Boomers' Incredible Shrinking Inheritances
Americans are now living longer, and the costs of elder care have soared, which means that many baby boomers%u2019 inheritances will be smaller than previous generations'. Today show financial editor Jean Chatzky offers advice on how to be ready.
What Candidate Romney and Queen Elizabeth Have in Common
With all the talk about Mitt Romney's worth -- as much as $255 million, we learned Friday -- we were intrigued by Monday's report on the holdings of Queen Elizabeth II. Turns out they have more in common than you'd guess, and the candidate could learn a thing or two from the monarch.
How to Use Life Insurance to Donate to Charity
When most of us buy life insurance, we're thinking about one thing: Making sure our families are taken care of after we're gone. But in this season of giving, you might also want to think about setting up a policy to take care of your favorite charity.
Waiting to Inherit: Not a Sound 'Financial Plan'
An estimated two-thirds of baby boomer households will receive an inheritance at some point, with a median amount of $64,000, according to an AARP study. I recently received an email from a reader who has fallen deeply into debt in anticipation of her legacy -- and is now worried that her bailout may not be at hand.
Amy Winehouse's Will: Singer-Songwriter Played It Smart
Despite the tumultuous life Amy Winehouse led in her 27 years, she managed to stabilize matters after her death with an ironclad will, according to reports. Let this be a lesson to both the famous and the obscure: A will is a good idea at any adult age.
Financial Industry Gets Social to Lure Young Money
At least $1 trillion will move from one generation to the next by 2025, and when assets change owners, advisers usually fall by the wayside. But certain parts of the financial services industry are finally adapting they way they communicate with these wealthy, younger potential clients.
Lessons from Dad: What the Super-Rich Teach Their Kids
All parents aim to bestow their wisdom on their children -- but if your dad is an investment guru, you might want to listen extra carefully. In this Father's Day special report, DailyFinance asked the adult children of these icons about what they had learned about money and life from their dads.
What Buffett Gave His Kids: Values, Not Billions
You might expect that with a father like Warren Buffett, the road through life would be paved with gold -- and advice about how to make a mint. Not so, says Peter Buffett, who says the biggest gift the billionaire gave to his offspring was his philosophy of integrity and authenticity to your true self.
Six Financial Myths Your Father May Have Taught You
You love your dad, but you don't have to buy everything he taught you about money. DailyFinance celebrates Father's Day by debunking six financial myths he might have held held true. He still deserves the socks and the cologne. Just don't necessarily trust him with your portfolio.
The 10 Most Infamous Family Inheritance Feuds
Nothing is certain but death and taxes, and where those two intersect -- wills -- there's supposed to be some certainty as well. Wills should be final. But unsurprisingly, sometimes heirs don't see them that way. 24/7 Wall Street lines up the 10 nastiest, most interesting family feuds over mega millions -- and, in one case, a frozen head.
