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The couple wanted their young daughter to have one stay-at-home parent. They'd examined their finances and determined they could afford to live on one income.
Most people consider a move to a continuing-care retirement community to be their last move. After all, the whole point of these facilities is they can accommodate older people on one campus as they age, progressing from independent through ...
Home sales often occur during or shortly after divorces. With real estate values on the upswing in many areas (finally), the federal income tax exclusion for principal residence sale gains can come in handy. However, divorcing individuals ...
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For 6-year-old Isabel Miller, a better understanding of charity came by way of some lemonade and a Lalaloopsy doll.The rising first-grader at Woodlin Elementary School in Silver Spring, Md., began receiving allowance about a year ago after ...
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The 74-year-old man struggled with degenerative memory loss and was forgetting to complete financial tasks.He needed help, and turned to financial planner Audrey Wehr Jones, of Casselberry Fla.-based Financial Life Designs. Ms. Jones ...
Major provisions of the 2010 health-care-overhaul law will take effect in January. That's when employers with 50 or more full-time workers must offer them health insurance or pay penalties. Likewise, individuals must obtain insurance or pay ...
Companies are catching on to paternity leave. Dads? Not so much.Yahoo announced in April that new fathers can take eight weeks off at full pay. Bank of America offers 12 weeks of paid leave, and Ernst & Young a few years ago bumped its ...
Dad would surely love season tickets for his favorite team—if it weren't for the cost (on your end) and the time commitment (on his). But you can often snag a deal on tickets to a handful of games through a season-ticket share group.
Q: In an article on federal estate- and gift-tax laws, you wrote that "you can pay for someone's tuition or medical expenses—as long as you make those payments directly to the educational institution…" Does that include relatives who aren't ...
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If you are an investor and aren't on the verge of retirement, your fondest wish should be for another whiff of fear that will tip even more assets into the bargain bin.
News Corp. Chairman and Chief Executive Rupert Murdoch filed for divorce from his wife, Wendi Deng Murdoch, in New York State Supreme Court on Thursday, citing as grounds "that the relationship has broken down irretrievably," spokespeople ...
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Columbus, OhioHere in the Buckeye State, we've made major economic strides over the past two and a half years. Facing an $8 billion budget deficit in 2011 and unemployment over 9%, Gov. John Kasich and the state legislature have since ...
For married couples planning their retirement, the quintessential question is this: "Who will die first?"That mortality forecast can turn out to be a do-or-die financial issue for the surviving spouse, who could end up living a much longer ...
Aside from rising home prices and reports of bidding wars, here's one sure sign the housing market is improving: Banks seem to be loosening standards for down payments.
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People draft estate plans so they can pass their money and property on to their heirs after they become incapacitated or die.But what happens to their other assets--so called "digital assets" such as an iTunes account containing thousands ...
Michael Spalding, a 50-year-old dentist, and his wife, a 56-year-old preschool teacher, have three teenage sons either in or preparing for college.
Summer vacation for you might mean sending your pooch or cat on a getaway of her own. But does she really need the massage?From kennels to "pet resorts," pet boarding facilities run the gamut in terms of accommodations and services offered. ...
A boot camp—or a daily ritual?Those choices are at the heart of a debate among financial planners about setting up budgets. Should people make an ongoing habit of tracking everything they spend and save? Or should they do shorter, focused ...
Financial advisers have a simple question for some of their clients who own businesses: Are you an active or passive owner?For clients whose businesses are set up as S corporations, the answer is crucial if they want their income from those ...
My Juggle column last month about the cost of college elicited a huge response from readers—many with great advice on financial aid, who should pay for college, and whether to narrow a kid's college applications based on anticipated cost.
Just three years after New York passed sweeping changes to its matrimonial laws, a legislator has proposed an overhaul of its alimony guidelines, including setting new formulas to determine the length and amount of post-divorce awards. The ...
Tucked inside the annual report for the Vanguard Wellington Fund is this nugget:Rebalancing boosted the fund's performance over the past 10 years.
Q:I am 72, retired and went back to work. At what point do I not have Social Security tax deducted from my pay?
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The deal last week by Shuanghui, China's largest pork producer, to buy U.S. pork company Smithfield at a big premium shows how much Chinese are willing to pay for safe food.
Summer relocations and home-improvement projects often find people in need of stashing their belongings in self-storage facilities.But many don't know how much storage space they actually need and whether they should spring for extras like ...
Q: How do the tax rules work on deducting personal losses due to storms and other natural disasters?N.H., Brooklyn, N.Y.A: Our reader is asking about the rules for what tax experts refer to as "casualty and theft losses." If you're a storm ...
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It's becoming a busy time for financial advisers with same-sex clients.As more states recognize gay marriage and the U.S. Supreme Court gets ready to weigh in next month in a case that involves the federal tax rules for gay spouses, many ...
MOSCOW—Russian President Vladimir Putin and his wife said Thursday they are separating after nearly three decades of marriage, setting the stage for the first divorce of a Russian leader since Peter the Great and bringing an end to years of ...
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Most investors hold a mix of stocks and bonds, hoping for both growth and safety. Then there are people like Daniel White.The 36-year-old Chicago lawyer keeps all his investments in the stock market. His 401(k) plan is invested in equities, ...
This is the month we honor Dad, but the deals you will find in June can be for the entire family, the house and even our grocery carts.1. Father's Day Freebies
We hope you’ll never need to know how payments for personal injuries are taxed. But here’s the story, just in case you or a loved one does need to know.
Services that aim to help investors turn retirement savings into a steady income stream are coming to 401(k) plans and individual retirement accounts—and they may help retirees stick to a plan that will keep them from outliving their ...
The story of J. Paul Getty III, as told by Charles Fox in "Uncommon Youth" (Bookshelf, May 22), is a great argument for confiscatory estate taxes.Donna Handy
Ready or not, here it comes.The launch of new marketplaces for buying your own health insurance—a key piece of the "Obamacare" plan—is just four months away, and the so-called insurance exchanges are starting to take shape.
The Obama administration announced that its signature consumer-mortgage modification initiative, due to expire at the end of the year, will be extended for two more years.
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Frequent fliers should be on the lookout for higher airline fees if proposals in the Obama administration's new budget make it through Congress.
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Planning on getting married soon? Uncle Sam might be celebrating as well.An inconvenient truth of marriage is that it often brings a tax increase compared with what the couple would pay as two single people. And the problem is only getting ...
For people like Salvador Martínez, a 50-year-old grounds crewman, the health-care law seems to be a potential game changer. Because of the law, his employer, a landscaping service in Santa Clarita, Calif., will begin offering coverage to ...
LOVE HAS NO BORDERS, of course, which may help explain why it's not just the economy that's gone global. To hear estate and tax planners talk, cross-border marriages are skyrocketing—along with a host of international estate and ...
AS PROFESSIONAL EUROPEAN soccer teams go, Galatasaray has had a pretty strong 2013, finishing in the top slot of its league in Turkey and competing in the prestigious European Champions League with super teams like Real Madrid and ...
I am a single, divorced, almost-62-year-old woman. I'm trying to decide the best way to take my Social Security. I have a pension, savings and individual retirement accounts. Should I apply for spousal benefits on my ex-husband's account at ...
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How can wealth managers help keep an estate from winding up tangled in legal battles between the heirs? For one thing, encourage clients not to be too "fair" in the division of assets, say estate lawyers E. Patricia Chantler and Wonsun ...
$4,670 Buys You...Brunello Cucinelli Wool Peak-Lapel TuxedoFew looks strike the balance between dashing and daring as well as a navy tuxedo. This one, from Italian master of tailored luxury Brunello Cucinelli, is in lightweight wool—ideal ...
An independent commission reviewing New York's alimony laws recommended sweeping changes in a report issued Friday, including revamping formulas and throwing out a unique decades-old legal precedent that counts professional degrees as ...
Mother's Day celebrates all that our mothers have done for us. But…no one's perfect, right?One mistake moms (and—let's get real—dads, too) sometimes make is failing to teach their children how to be smart about money.
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People are calling "family meetings" nowadays not only to deal with their parents' health issues but increasingly to sort out their finances as well.
The pickings are growing increasingly slim for retirees looking to boost the income generated by their savings.To earn yields of 5% or more, investors—who once would have relied on the relative safety of bank certificates of deposit or ...
What are the chances that the Internal Revenue Service will audit your income-tax return?At first glance, the answer appears simple: very low. The IRS has audited only about 1% of all individual income-tax returns in each of the past ...
Q:Your recent article in The Wall Street Journal Sunday noted the audit likelihood based on income level. However, I am curious as to audit likelihood based on whether one files using itemized deductions versus the standard deduction.
Consumers appear to be struggling more with worries about access to health care, while even those with coverage are running into barriers to getting some treatments authorized by insurers. And many Americans have questions about the ...
The ultralow interest rates that are eating into retirees' fixed-income portfolios pose a separate yet vexing conundrum for those same older Americans: Should I pay off the mortgage?
Besides keeping some in an emergency fund, should the average investor have an allocation to cash and cash equivalents in an investment portfolio? The Wall Street Journal put this question to The Experts, an exclusive group of industry and ...
If you work for yourself, I hope you already know about the deduction for self-employed health insurance premiums. It is allowed for sole proprietors (including single-member LLC owners who are treated as sole proprietors for tax purposes), ...
Call it a midlife epiphany.After decades of pursuing money, titles and ever more stuff, baby boomers are coming to a big realization: Success and security just aren't enough anymore. They want something more fulfilling out of life, ...
The recent Internal Revenue Service scandal — career officials deliberately delaying applications of certain organizations for tax-exempt status, and the IRS commissioner and acting commissioner are accused of lying to Congress about the ...
Do-it-yourself investing is gaining newfound popularity—but with a twist.Instead of going it entirely on their own, more investors are pursuing a kind of modified DIY approach, tapping an array of increasingly sophisticated online tools and ...
Many people are moved by sad stories in the news, but few decide then and there to take action. Judy Cockerton did just that in 1999.One evening, after reading an article about a foster-care baby who was kidnapped out of his crib, she ...
SWEDISH INVESTOR MARCUS Sahlé was looking for a new markets strategy when he read about foreign-exchange trading. Now, he's buying the dollar and the British pound with trades that last from a day to several weeks to time the market—and ...
As they enter their 50s and 60s, growing numbers of baby boomers are turning to jobs with religious ties, becoming chaplains, spiritual counselors, missionaries, educators and social workers. This Encore cover story—and the following ...
Nearly half of all Americans split with their partners within the first eight years of marriage. Furthermore, the zeitgeist trend to marry later–the median age for brides is 26.5 years, for grooms, 28.7–means more assets are up for grabs, ...
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F. Scott Fitzgerald wasn't entirely right. The very rich are different from you and me—but not by much.A new study offers a comprehensive look at the portfolios and investment decisions of several hundred of the wealthiest families in the ...
Whatever your needs as the summer season gets under way, there's an app for that.GasBuddy.com and GasPriceWatch.com promise to find the cheapest fuel for drivers in unfamiliar terrain, GateGuru and iFly keep fliers updated on flight delays. ...
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Trying to find a meaningful way to help your college-age kids get some real-world experience?Some business owners and managers are "swapping" internships, which allows young people to gain valuable experience while bypassing human-resources ...
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Here's another reason why Generation X might resent baby boomers.Typical Generation Xers now in their late 30s to late 40s saw their net worth drop by a larger proportion than older Americans during the financial crisis and came out of it ...
ON MAY 21, 2001, a Taurus rocket carrying two satellites blasted into the sky from Vandenberg Air Force Base in California. All went well at first, but when the second-stage booster ignited, the spacecraft veered off course and burned up in ...
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The federal government won't tax an individual's estate if it's worth less than $5.25 million.But many states will tax estates worth far less. For example, New Jersey's estate tax kicks in at $675,000--the lowest threshold in the nation.
When was the last time you looked at your will? If you can’t remember, it is time for a review. Having outdated legal documents, such as a will or power of attorney, can wreak havoc on your health and your family’s wealth.
Paul Gigot: This week on "The Journal Editorial Report," the IRS under fire over its targeting of conservative groups. It's the very same agency ramping up for the ObamaCare rollout. Could the taxman soon be playing politics with your ...
Don't sink your maintenance budget when opening up your pool in time for the Memorial Day holiday.A pool-opening service typically includes cleaning the pool area and equipment, removing the pool cover, activating the circulation system, ...
When it comes to exercise, he says aerobic—and I say resistance.Running is my husband's thing; weight training is mine. Our running joke is that we have a Running Argument: a debate over which type of workout, his or mine, provides the ...
As college students close the book on another school year, they should consider selling their unwanted textbooks online.Students who sell back used textbooks traditionally do so through the campus bookstore, where they typically get back up ...
There are humble beginnings—and then there's Harold Hamm. Before becoming chairman and CEO of Continental Resources, a petroleum producer that has made him one of the richest men in America, Hamm grew up in Oklahoma as the youngest of 13 ...
In less than five months, on Oct. 1, the Affordable Care Act's insurance exchanges will go live online. Millions of Americans will suddenly be able to log on to a website and choose their own heath-care coverage from a menu of subsidized ...
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You don't have to be a Rockefeller to join a family office.Family offices are private firms that manage just about everything for the wealthiest families: tax planning, investment management, estate planning, philanthropy, art and wine ...
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The 60-something client came into adviser Ross Gerber's office to help address a rift that was opening in his family.He had remarried and had young children, but both he and his new wife had adult children from their previous marriages. And ...
Some call it contingency planning while others refer to it as plain old risk management. But no matter what you call it, you’ll need to start thinking about ‘it’ if you’re saving for or living in retirement.
It isn't often a business says, "Thanks, but no thanks," when you try to invest more money with it.But that is what a growing number of life insurers are saying to people who, years back, bought the retirement-income product known as a ...
Private U.S. colleges, worried they could be pricing themselves out of the market after years of relentless tuition increases, are offeringrecord financial assistance to keep classrooms full.
What is the biggest financial mistake retirees make? The Wall Street Journal put this question to The Experts, an exclusive group of industry, academic and other thought leaders who engage in in-depth online discussions of topics from the ...
Most folks are no longer exposed to the federal estate tax, thanks to today’s relatively generous $5.25 million exemption. Great. But being exempt from the federal estate tax is not the end of the story. If you have assets (maybe just a car ...
Q:In a recent column, you said the maximum earnings subject to Social Security taxes increased from $110,100 in 2012 to $113,700 in 2013. That is a 3.27% increase. Social Security recipients received a 1.71% increase in benefits from 2012 ...
As Rachel Zahn's three children were growing up, she liked to warn them, half jokingly, not to overstay their welcome. "Checkout time at this hotel is age 18," the 56-year-old nonprofit director would tell them.
Want to be a smarter investor? Get in touch with your feelings.The usual advice tells us that we have to use reason, not emotion, when we make investment decisions. But even if we think we're being cold and analytical when we make a move, ...
Many financial advisers don't go out of their way to work with young investors. Young people typically don't have $250,000, much less a million dollars, lying around waiting to be invested, so some advisers don't think it's worth their ...
The vast majority of borrowers being compensated for mortgage-related abuses will get $1,000 or less apiece.About four million borrowers will share $3.6 billion in cash as part of a settlement between federal regulators and banks accused of ...
Doing some spring cleaning? A garage or tag sale is a way to turn that unwanted stuff into cash. But many people don't know how to go about pricing their wares.
Don’t miss these top stories:10 things vitamin makers won’t say.Should you buy Apple bonds?5 things you can’t do if you’re gay.Retire Here, Not There: Kansas.
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The 66-year-old widow had been a client of adviser Jay Wertz since her husband died in 2007, leaving her with had an estate worth $30 million.
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Are you a man with a waist measuring 40 inches or more? If you want to work at Michelin North America Inc., that spare tire could cost you.Employees at the tire maker who have high blood pressure or certain size waistlines may have to pay ...
If you thought nothing could be more tedious than filling out your tax forms, just wait until you try to apply for health insurance through the Affordable Care Act’s new exchanges.
It isn't cheap to be the belle of the ball.Families with teens going to proms dropped an average of $1,139 on the event last year, according to Visa's annual survey of prom spending across the country.
NEW YORK—More investors are taking the do-it-yourself route.It's well known that registered investment advisers are grabbing market share from traditional brokerage firms. But another trend appears to be encroaching on the business of the ...
An important deadline is coming up soon for many long-term procrastinators.Nearly one million taxpayers still haven't gotten around to filing their federal income-tax returns for 2009, according to the Internal Revenue Service. If those ...
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Taxpayers who gave substantial assets to family members last year could be in for a nasty surprise this tax season: potential errors on federal gift-tax returns that could result in donors owing taxes on gifts they thought were tax-free.
Millions of workers saving for retirement risk losing part of their nest eggs if interest rates jump.The cause for concern: target-date mutual funds, designed for investors who lack the time or expertise to balance their investment ...
Baby boomers with individual health plans stand to benefit big-time when public insurance exchanges launch on January 1. The centerpiece of the Affordable Care Act, these state-level marketplaces will improve boomers’ access to health ...
While college majors may seem irrelevant to employers who mainly want to hire young people who can think critically and communicate well, that doesn't mean all majors are created equal.
Don't let the sequester foil your trip to a national park or other site this summer.Under the automatic federal spending cuts that went into effect on March 1, the budget for each of the country's national parks and sites has been cut by ...
Funding the individual retirement accounts of family members before April 15 can boost their retirement security and potentially lower your tax bill.
When it comes to our oldest daughter and college, we are in a place that most parents would envy. Jamie, a junior, is a strong student and is being wooed by a lot of colleges. But as the envelopes keep coming, they're all going straight to ...

With most couples waiting to marry and three quarters of marriage partners living together first, many celebrants are paying at least part of their wedding bill.
It’s never too early to start talking dollars...and sense.
Your grocery bill is your biggest weekly household expense, so keeping a lid on it will go far to stretch your dollar.