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Monthly Archives: July 2014

Financial decisions and family

Bruce HeenRetirement plans and other financial matters are not the most common topics of conversation when it comes to parents and their adult children. But it should be. As a result many young Americans are not prepared to live comfortably in retirement or support their family during a financial crisis.

A study conducted by Fidelity Investments discovered that about 64% of parents and children can not agree on when to have conversations about financial preparedness. The study found that money is a taboo subject for many parents of adult children.

Many families disagree on when the best time is to sit down and have conversations about later-life financial topics such as retirement. According to the study, around 40% of parents indicated they haven’t discussed these matters with their adult children.

“Admittedly, these discussions aren’t always easy, but there can be real emotional and financial consequences when they don’t happen or lack sufficient depth,” said John Sweeney, executive vice president of Retirement and Investing Strategies at Fidelity.

There are three financial misunderstandings that often affect families. Parents lag adult children on sense of urgency about retirement. Adult children are 56% more likely to worry about financial security compared to 23% of parents. Adult children also significantly underestimate the value of their parents’ estate. Lastly, families disagree over who will care for a parent if they fall ill. The study shows that these parent-child disagreements can be avoided by talking about these financial issues earlier.

For more information read on at http://www.usatoday.com/story/money/personalfinance/2014/07/09/families-divided-over-personal-finance-decisions/12380577/

via Bruce Heen http://bruceheen.org/financial-decisions-and-family/

 
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Posted by on July 21, 2014 in Bruce Heen

 

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Carmelo Anthony to stay with New York Knicks?

Bruce HeenCarmelo isn’t Ready to leave New York just yet.

After Knick fans stressing for the past week over his choice, Anthony is expected to finally make it public that he will be staying with the Knicks. Leon Rose, Anthony’s agent claims that there is no official decision that has been reached but a friend close to Anthony commented that Anthony “wants to get it done in New York.”

The deal on the table brings the Knicks to a max contract deal with Anthony for $129 million over five years. The Lakers have also offered Anthony a max deal over four years for $96 million alongside a $75 million dollar deal from the Chicago bulls.

Anthony, who constantly was reported saying that he wanted to stay in New York, seemed to be interested in joining the Lakers and close friend, Kobe Bryant. He also liked the idea of playing with the champion contender Chicago Bulls. He liked their presentation and appreciated the strong bond Head Coach Tom Thibodeau shared with his players.

However Anthony seems to want to stay in the Big Apple, a place his family calls home and the place he believes that can be turned around by Phil Jackson.

A source close with Anthony claims that his prolonged decision is not a reflection on his confidence in the Knicks of Jackson. The Knicks ideally wanted a verbal agreement from Anthony last Thursday but Anthony requested at least the weekend to make this decision about his future.

By Wednesday, Anthony was reported as telling friends that he could see himself in a position to win a championship in New York. The last NBA title for the team was back in 1973.

For more information read on at http://www.nydailynews.com/sports/basketball/knicks/carmelo-return-knicks-win-new-york-article-1.1860680

via Bruce Heen http://bruceheen.net/carmelo-anthony-to-stay-with-new-york-knicks/

 
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Posted by on July 21, 2014 in Bruce Heen

 

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