Various studies show that our educational system doesn’t give much emphasis on teaching our children financial responsibility, thus, creating a culture of debt-burdened population. Where everything is easily procured and spent, it is paramount to our children’s future success to teach them financial responsibility from a very young age.
Asian Journal- The Filipino-American Community Newspaper
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Nov 21st
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General Interest Evangeline Giron
General Interest Evangeline Giron
Evangeline Giron
Setting children for financial success
My daughterwas about 7 when she asked me to buy her something and Itold her that we needed to first save for it. She responded saying, "Why don’t you use your ATM card, mom?"
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Getting the Most from Social Security
Thepast few years, there has been much buzz on the Social Security Administration’s potential inability to provide full benefits to beneficiaries during retirement. This opened a whole spectrum of financial uncertainties that led to Americans being encouraged, both by the public and private sectors, to plan retirement using personal funds. Hence, the tremendous growth in personal investment vehicles such as annuities became a phenomenal success.
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However, aside from contributing to Social Security, you could apply a few basic strategies to get the most bang for your buck.
High investment return? Think again!
LAST week, Ana (not her real name), approached me regarding her situation. She has "loaned or invested" $182,000 to someone who is now missing with the lure of extremely high investment return.
So many times I have been personally offered these sales pitches myself. My simple and easy answer, "If it sounds too good to be true, it probably is!" There are no guaranteed returns on an investment unless you are putting it on a fixed product.
Where to Find Scholarship Opportunities?
OVER 85% of the nation’s schools of-fer various types of scholarship, granting money to college students based on a host of criteria such as academic merit, financial need, and in some cases, ra-cial or ethnic background. Though the application pro-cess can be complicated and redundant between scholar-ships, there is a great deal of money available for those who are willing to jump through the right hoops and prove their merit and/or need.
The power of a Power of Attorney
THE power of attorney is perhaps the most important tool a person needs to protect financial interests if there comes a time when an individual is not able to act. Signing a power of attorney is absolutely critical to ensure a person’s future independence in the event of illness or incapacity. Without it, one risks having his or her affairs managed by a court-appointed guardian, possibly a stranger, under court supervision and often without the ability to have any input. In other words, the person literally loses financial control. The power of attorney is the cornerstone of a financial management plan. It ensures that a person’s wishes will be respected if there comes a time when he or she is unable to act. It is a written document whereby someone is appointed to manage that person’s financial affairs in the event of illness or incapacity.
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