Financial Library

Before a sky scraper can reach for the clouds, it needs a very strong foundation. Once the building is complete, the foundation is virtually unseen. The same goes for our financial strategies. Following are the basics of a strong financial foundation:

Budget – Governments and businesses use budgets to properly allocate resources. It’s known as good business. A budget can help you figure out where your hard earned income is going and to identify ways to cut spending or increase savings.

Ralph and Mary have accumulated a nice estate, a good portion of it in cash. They want to leave it all to their children when they die, but they also want to do something for them today. Being part of the Savings Generation, they are reluctant to give large sums to their kids today, as they are part of the Spending Generation. Ralph and Mary also want to treat their children as fairly as possible.

When someone dies, their estate falls into three basic categories: