Family

“Hi. Could I borrow $5000? Only if you have it available from a cash source (don’t want to cause taxes for you). We depleted our HSA with all the medical expenses in the last year and still have bills to pay. I would need to start selling off stock and mutual funds at this point and pay the taxes on the earnings.”
I told him I would not loan him the money, but I would send the $5,000 immediately which I did.

 
Marks recent post on the cost of his daughter’s upcoming wedding made me think about and remember fondly the 2 weddings we “hosted” (sponsored, bankrolled… not sure what the right term is) now 17 and 12 years in our rear view mirror.
Yes, the costs and add ons were outrageous then but we paid for them, survived and even retired since.
Mark, if you think the wedding is expensive wait until the costs of family social gatherings (including your new in-laws),

It’s been almost 58 years since my parents decided to immigrate to the U.S. for a better future for me. That’s the reason they gave as to why they uprooted our  lives in Athens, Greece.  I did not like their decision and for years afterward I let them  know that I preferred my life in Greece.  My parents knew what I didn’t know which was that America was a land of opportunity and I could educate myself and eventually have a better standard of living than in Greece.

At ten years old, my twin brother and I stood in a dark hallway trying not to cry.
The suitcases had already been taken from the car. Around us stood other families saying goodbye to children far too young to understand why they were being left behind. Then suddenly it was our turn.
Two frightened boys clinging to their mother, tears streaming down our faces as we watched home disappear behind us.
“An ominous dark hallway,


I have on occasion criticized politicians and/or people of wealth for not remembering where they came from. Other times I have read articles enumerating retirement account balances by age, and commented negatively about young people’s failure to prepare for their future.
There is validity to feeling that way to a certain extent, still, in doing so we may be denying our own past. While I’m proud to have achieved a two comma net worth, that didn’t happen until sometime in our 7th decade of life,

Some of us can choose our path through school and career. But life often has other plans. It did for my mom. As Mother’s Day approaches, I got to thinking of her story.
Mom was one of nine siblings. She was the third youngest, but she was old enough to draw the short straw when her pharmacist father fell ill and died as she was coming of age.
With her older siblings off at school or busy establishing careers,

In January 1948, welcomed by family wearing sunglasses, my dad and grandma arrived at the Santa Fe train station in Pasadena, California.
Several months earlier, just before my dad graduated high school, his father died unexpectedly following surgery. Grandpa was hurt moving a large beam at their home, an old farmhouse fixer-upper on the outskirts of Pittsburgh, Pennsylvania.
The family moved to that home during the Great Depression when finances forced them out of their home in the city.

My hope is this resonate with some of you and you will tell your own story. It’s probably more of an article, but my hope is it creates good conversation and your wisdom as well.
The life we built, the family we raised, and the future we prepared for were not handed to us. They were built—day by day, dollar by dollar, choice by choice.
Most people will never have the exact same story.

In many personal finance circles, the conversation around aging inevitably turns to the “child as a safety net” strategy. We often assume the natural progression of life involves moving closer to our offspring, or perhaps moving them into our homes, so they can help navigate us through our final chapters.
But as I look around my age-restricted community, I see a much more diverse—and arguably more resilient—set of arrangements. While some neighbors do live with their adult children,

This is the first piece I have ever written for HumbleDollar, because frankly I don’t have much financial nous to preach – particularly to a congregation that I assume to be, on average, better off than I.
I’m here with a question, not a pearl of wisdom, and I’m asking out of genuine curiosity.
Both my net worth and my retirement savings are around the 80th percentile for Americans. That’s way higher than I ever expected to be,

When I’m turning a tricky problem over in my mind, my normal port of call is my wife Suzie…she’s much more sensible than me. But I have an issue I can’t ask her thoughts on. The reason is simple — it’s a secret that she knows nothing about. So I thought I’d canvass opinions from the Humble Dollar community.
Right now I’m thinking of offering four separate loans to extended family members, and the backstory is straightforward.

I want to thank all forum members who commented on my last post about helping my adult son and his new wife.  Last night, my wife and I applied all of the lessons to have “the talk” with my son, his wife and my daughter over an impromptu family dinner at our house.  Just a quick background for context and then back to the conversation.  My daughter lives in Maryland, some 3.5-4.0 hours away.  My son also lives south of us about 2.5 hours away.  

Hi HD community.  I am a longtime reader and first time writer so please be kind with your feedback.  The topic on my mind today is helping my adult children financially.  I have read previous articles on the topic, but do not recall any addressing this specific angle.  I am interested to hear your thoughts on helping adult children who, by virtue of their financial discipline and decision-making, are in very different financial situations.  Simply put,

I saw a post on Bogleheads regarding a question on grandchildren accounts.. I haven’t set up an account there to post so here is a method we used when children were very young.
We started and gifted to gift-to-minor accounts.  Coordinate with the parents first so you don’t complicate financial aid packages for continued education.  Once the children had taxable wages we gifted to Roth accounts in their names.
We stuck with a balanced 100% equity,

I have recently paid attention to calls for help by retirees seeking ways to support a needy child who is, for medical or mental reason, unable to manage to live independently without ongoing financial support. I resonate with such worry, which mirrors mine.

Naturally, I keep a warm heart for all my extended family members despite occasional differential preferences for some over others. My children, nieces and nephews follow the current US economy into a K-shaped future: some with up-sloping prospects,