This week’s Mega Millions jackpot is projected to top $1 billion. Would you be happy if you won? Last week, I talked about the Vanderbilts. Once the wealthiest family in America, they saw their fortune dwindle because of aggressive spending. Back in the 1890s, for example, the family spent $7 [...]
T is for drama
When it comes to estate planning, folks with taxable estates—that is, with assets in excess of $12 million—tend to fall into one of two camps. The first recognize that their estates will have to hand the IRS 40 cents out of every dollar above that $12 million threshold. They also know that this [...]
The next generation
In his book The Opposite of Spoiled, Ron Lieber describes a conversation that occurred between Chris Rock and Jon Stewart back in 2012. In an interview on Stewart’s show, they got around to discussing the challenges both faced in raising children who could remain grounded amid wealthy [...]
Helping helpfully
Life is expensive. There’s no doubt about that—especially for young adults contending with budget busters like housing and tuition. If you have adult children facing these expenses and want to help them financially, you may be wondering how best to approach it. While every family is different, below [...]
Parenting for financial success
When I was growing up, one family in the neighborhood lived differently from all the others. In their garage was a Rolls-Royce, and when each of their sons turned sixteen, a new BMW showed up in the driveway. Because it was so out of the ordinary, it caught my attention. It [...]
