I was one of those moms who insisted her kids do chores. Not just 5 minutes worth but a number of regular daily chores. We did this to develop of a sense of belonging and to learn responsibility. Another reason was I didn’t want them to see Mom and Dad always working while they loafed around the house. If adulthood was that drab, why would they ever want to grow up?
We hope you enjoy our most recent newsletter. Included you will find some tax changes for you to consider before 2016 closes, tips for paying for college and our most recent blogs from our advisors talking about why they love to travel to how they choose their words to live intentionally.
We would like to call your attention to the most recent Market Insight where Steve discusses the perennial debate about whether passive or active investing is the superior methodology. Read here.
Is college worth it? A few years after baby boomers finished college beginning in the 90s, the cost of education started rising higher than the costs of other goods and services1. Now, as we are trying to secure education for our own children, we are faced with mind-boggling expenses. The average cost of tuition and fees at a private non-profit, four-year school for 2015 was $31,2311. Ivy League schools almost double that. At the University of Minnesota, the bill for our daughter this year will come in just over $25,000 for expenses including tuition, fees, room and board.
Student loan debt is the only form of consumer debt that has grown since the peak of consumer debt in 2008. Balances of student loans have eclipsed both auto loans and credit cards, making student loan debt the largest form of consumer debt outside of mortgages.1
As a Financial Advisor, talking about money, finances and cash flow with clients is a normal every day occurrence. One of the most common questions I’ve been asked by clients has been “How can I talk to my children or grandchildren about money?” and “How can I teach my children about the value of saving?” As the father of four young girls, clients’ eyes invariably lock directly on mine when asking questions like these.