AUTHOR: Jane on 6/25/2024 FIRST: Jonathan Clements on 6/25/2024 | RECENT: Jane on 6/30/2024
Comments
Wonderful interview with Jonathan! Both of you along with James Lange have greatly influenced my attitude and outlook on financial matters and how it impacts life. I’m grateful for your insights and look forward to reading HumbleDollar every week!
Agree a CFP has some knowledge and insight into tax and estate planning but an attorney and CPA is required to draft documents and prepare taxes. The firm I’m considering is an advisory partnership between a Client, Fiduciary, Attorney and CPA. The fees range between .5-1% of the value of the portfolio. I don’t have an issue paying for professional services. I’m knowledgeable about investing, estate planning etc. but I’m not an expert on these services. Others are very comfortable managing their own business affairs but I find value and peace of mind working with an experienced professional.
I’ve shared my version of Bill Bernstein’s “ I played the game and won it. I’m done playing the game.” With a few financial advisors and they look at me like I’ve grown a 2nd head. Since retiring, my husband and I are spending more than we did while working and still have plenty. Our investments have been on the conservative side and when I get , “if you would have done…your portfolio would be $$$, it really annoys me because we have more than what we started with 12 years ago and the risk reward suits us fine. As far as personal goals, I love having the opportunity to do whatever, whenever and with whomever! There are no guarantees how long we have or what may happen tomorrow. “Therefore don’t worry about tomorrow, for tomorrow will worry about itself. Each day has enough troubles of its own.” Matt:6:34
The famous quote from Ben Franklin,”Nothing is certain except taxes and death.” Knowing this is one thing, but preparing for it brings you peace of mind!
Appreciate the sound advice. Many subjects including money and estate planning were not discussed with our parents. After closing our parents estates, we realize that it can lead to misunderstandings and hard feelings.
I have two sons, both married with young children. One son is a school principal and the other is in the financial industry. One family is financially sound and the other struggles with making ends meet. So far we have gifted each family the same amount of money and set up 529 funds for the grandchildren. We’ve considered custodial accounts for the grandchildren who have more need, but our financial advisor doesn’t think it’s worth setting up for them if it’s providing short term benefits. I struggle with equal gifting and giving out of need. Sharing your experience is appreciated.
Since reading your post about the C word, I’ve been thinking about how fragile life is and sad to hear this news. In my retirement, I’ve lived by the financial strategy I read in your book Jonathan Clements Money Guide 2016 of “I played the game, won the game and am done playing the (financial) game.” For the past 12 years this strategy has served me well. Now that you’re facing an unexpected future, I pray that your many years of playing the game of life will bring you peace. God bless you and your family with healing, protection and love ❤️
Comments
Wonderful interview with Jonathan! Both of you along with James Lange have greatly influenced my attitude and outlook on financial matters and how it impacts life. I’m grateful for your insights and look forward to reading HumbleDollar every week!
Post: Asking the Editor
Link to comment from March 8, 2025
Thanks for the insightful post and reference to Ben Carlson’s book.
Post: Investing in Dimensional Funds
Link to comment from February 16, 2025
Agree a CFP has some knowledge and insight into tax and estate planning but an attorney and CPA is required to draft documents and prepare taxes. The firm I’m considering is an advisory partnership between a Client, Fiduciary, Attorney and CPA. The fees range between .5-1% of the value of the portfolio. I don’t have an issue paying for professional services. I’m knowledgeable about investing, estate planning etc. but I’m not an expert on these services. Others are very comfortable managing their own business affairs but I find value and peace of mind working with an experienced professional.
Post: Investing in Dimensional Funds
Link to comment from February 16, 2025
I’ve shared my version of Bill Bernstein’s “ I played the game and won it. I’m done playing the game.” With a few financial advisors and they look at me like I’ve grown a 2nd head. Since retiring, my husband and I are spending more than we did while working and still have plenty. Our investments have been on the conservative side and when I get , “if you would have done…your portfolio would be $$$, it really annoys me because we have more than what we started with 12 years ago and the risk reward suits us fine. As far as personal goals, I love having the opportunity to do whatever, whenever and with whomever! There are no guarantees how long we have or what may happen tomorrow. “Therefore don’t worry about tomorrow, for tomorrow will worry about itself. Each day has enough troubles of its own.” Matt:6:34
Post: Never Enough
Link to comment from February 15, 2025
The famous quote from Ben Franklin,”Nothing is certain except taxes and death.” Knowing this is one thing, but preparing for it brings you peace of mind!
Post: A Time to Give
Link to comment from August 24, 2024
Appreciate your input, my one son has similar support from his in laws, fair is a good approach, fortunately my kids like each other
Post: When to share estate plans and net worth with your adult children
Link to comment from June 30, 2024
thanks for sharing, especially appreciate the discussion is not for their approval
Post: When to share estate plans and net worth with your adult children
Link to comment from June 29, 2024
Appreciate the sound advice. Many subjects including money and estate planning were not discussed with our parents. After closing our parents estates, we realize that it can lead to misunderstandings and hard feelings.
Post: When to share estate plans and net worth with your adult children
Link to comment from June 26, 2024
I have two sons, both married with young children. One son is a school principal and the other is in the financial industry. One family is financially sound and the other struggles with making ends meet. So far we have gifted each family the same amount of money and set up 529 funds for the grandchildren. We’ve considered custodial accounts for the grandchildren who have more need, but our financial advisor doesn’t think it’s worth setting up for them if it’s providing short term benefits. I struggle with equal gifting and giving out of need. Sharing your experience is appreciated.
Post: Is it better to give away money now or upon death?
Link to comment from June 22, 2024
Since reading your post about the C word, I’ve been thinking about how fragile life is and sad to hear this news. In my retirement, I’ve lived by the financial strategy I read in your book Jonathan Clements Money Guide 2016 of “I played the game, won the game and am done playing the (financial) game.” For the past 12 years this strategy has served me well. Now that you’re facing an unexpected future, I pray that your many years of playing the game of life will bring you peace. God bless you and your family with healing, protection and love ❤️
Post: The C Word
Link to comment from June 22, 2024