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 [...]
How to manage a windfall
When Cornelius “Commodore” Vanderbilt died in 1877, he was by far the wealthiest American, with a fortune of $100 million. And in the ten years after Vanderbilt’s death, his son William succeeded in further doubling those assets. It was an astonishing level of wealth. But that’s precisely when [...]
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 [...]
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 [...]
Organizing your financial life for your heirs
A few years back, I found myself in an emergency room, thinking I had a serious condition. As I sat there, I worried about my family, including my wife and young children. But I also worried that if I didn’t come home, my wife wouldn’t have a clear picture of our finances. Fortunately, the health [...]
