Money and You

Why a Family Meeting on Finances is a Good Idea

Planning a conversation with your loved ones about your financial plans and goals may not be easy, but it can help you feel more confident about your family’s financial health and your peace of mind.

Basics of Trust and Estate Planning (Lakeside Chats 7-9-20)

July 9, 2020 | Topics: Video, Estate Planning

Ever wonder about the difference between a revocable trust and an irrevocable trust? Or do you have questions about estate planning (and what that even means)?  If yes, then you’ll be happy to know that our next Lakeside Chat covers the Basics of Trust Planning/Estate Planning. Our guest host will be Heather West from the Rural Law Center of New York.

Your Financial Health Checkup

Your annual physical checkup and health screenings are scheduled. Your dental checkups, and perhaps those for your spouse and children, are on your calendar or smartphone. Yet many people fail to schedule time for a regular financial health checkup. 

Whether you prefer to block out some time each month or review your financial goals annually, here is what you need to do at least once a year to make sure your money is working hard for you, and that you address the goals most important to you and your family.

Talking with your adult children about money

Talking with your kids about money changes as they get older and as you get younger (of course). If this has been a conversation you have shared since they were young, it’s natural to continue to discuss financial matters as the years go on. In a perfect world this would be the way it is all the time. Unfortunately, the opposite is often true.

Talking with Your Kids About Money

While everyone has different views about money, it’s important to have “money talks” with your kids about the basic concepts at an early age. You don’t want these conversations to be heavy-handed or hour-long lectures, but aim for brief observations whenever opportunities come up. My husband and I are regularly on the lookout for teachable moments to talk about money with our two kids – especially since we know that our oldest is a “saver” who hates to part with even a penny, and our youngest is a “spender” who will spend every penny she has and then ask for more. We hope to teach them about finding a balance between the two. Here are five important tips for helping your children learn to use money wisely today and throughout their lives.

What Keeps You Up at Night? (Part 2)

Know that you are not alone if you toss and turn as you try to fall asleep. In 'Part 1', we focused on the financial concerns of a married couple with young children, but noted that the Gallup-Healthways Well-Being Index shows 61 percent of Americans worry about how to manage their economic life to reduce stress and increase security. That’s a lot of worrying going on!

You did WHAT!? Common Financial Pitfalls

Avoid common financial pitfalls for a more secure future.

In life and matters of the wallet, rest assured that we all make mistakes. Mistakes are a critical part of our education process – but when it comes to your finances, some lessons and consequences can be quite lasting. In an effort to help you learn from others, and potentially save a great deal of money and heartache, you may wish to review some of the following most common financial mistakes, and ways to avoid or mitigate them.

Estate Planning to Avoid Family Discord


Family relationships are so fundamental to our personal identity and so often they are complicated. During a time of grieving and mourning over the death of a loved one, family relations can become even more emotionally charged. Although none of us can avoid death, it is possible to minimize potential family conflicts through advanced, careful estate planning.

Have You Had "The Talk" With Your Kids? It's Recommended You Speak Early and Often About Money

As parents, you have probably often heard that you should speak openly and often with your children about all kinds of tough issues – bullying, alcohol, and drug use to name a few. You may wish to add another topic to the list: money. Like other important conversation subjects, learning about and developing sensible financial habits is a long-term goal for parents, and all the more challenging for people with substantial means.

Who's Managing the Family Money?

For many families, this is a question getting some new answers lately and sending the financial planning profession into profound change. Once the exclusive domain of "the man of the house," managing the family's investments is increasingly shifting to the one who schedules the medical appointments, gets the kids to school and gets the bills paid; Mom.