Category: Wisdoms
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Prepare Today, Protect Tomorrow
In our island community, where the bonds of family and tradition run deep, facing a long-term care event is one of the most challenging experiences we may encounter. Such events can place emotional, physical and financial strains on even the strongest ‘ohana. Without a clear and thoughtful plan, families often find themselves making difficult decisions…
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Naughty or Nice?
Your estate plan is the set of documents that you use to say who gets your stuff when you go. It is also where you can say who doesn’t get any of your stuff — with some important exceptions. In most states, you can disinherit everybody but your spouse. You can even disinherit the IRS.…
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Is Travel on Your Retirement Agenda?
One of the great benefits of retirement is having the freedom to pursue new interests and hobbies at your leisure. For many, travel is at the top of their retirement bucket list. The key question is how to make sure your retirement savings can keep up with your travel ambitions. The following considerations can help…
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Doing Good While Doing Well
Enjoying a successful career or owning a profitable business can enable a person to give some wealth back to the community where it was generated. If this describes you, consider the following pointers: ■ NEVER SELL APPRECIATED ASSETS IN ORDER TO MAKE CASH GIFTSIf you sell an asset in order to generate cash to make…
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Siblingship
Siblingship describes the unique relationship between siblings. Siblings begin their relationship at a young age, and if they are fortunate, they reach old age together. They experience joys and setbacks, they laugh and cry — and they fight. Through the fighting, they can learn conflict resolution. Spouses join us in our adult lives. Friends often…
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Financial Success for Parents & Kids
According to a recent study published by Ameriprise Financial, individuals in their 30s and 40s have received significant financial help from family and expect additional assistance in the future. And over a quarter of those surveyed said they received $25,000 or more.(1) It’s admirable to see that parents want to go to such great lengths…
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SECURE Act 2.0
According to a Federal Reserve System report on the Economic Well-Being of U.S. Households in 2022–May 2023 in 2023, “3/4 of non-retired adults had at least some retirement savings, about 28% did not have any. This share who did not report any retirement savings was up from 25% in 2021. While most non-retired adults had…
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The Mom Who Ran Out of Time
Having spent over 14 years handling elder issues, the one thing I have seen seniors do repeatedly is not plan for their passing because they think there will be time do it later. This naïve mindset causes so much frustration and anger that instead of leaving behind a legacy of love and fond memories, ill…