For many people, if they know about reverse mortgages at all it is probably limited to seeing them advertised on late night TV. They are not widely used or understood, and might even seem gimmicky; but given the right circumstances, they could be worth considering. Reverse mortgages are primarily designed for older homeowners who have … Continued
Typically, a regular IRA is not the most efficient asset to use for inter-generational transfers of wealth. If the IRA and estate are large enough, both estate and income taxes will apply. As a result, heirs can end up with only about 20% of the actual value of an IRA. However, if estate taxes are … Continued
Social Security was established in 1935 in the depths of the Great Depression to provide Old-Age, Survivors, and Disability Insurance (OASDI). What started as a program covering only about 50,000 Americans has turned into one now covering over 50 million beneficiaries. By dollars paid out, the US Social Security program is the largest government program … Continued
Most people are familiar with the popular 1939 movie The Wizard of Oz. Far fewer, however, are familiar with the deeper storyline of the original book written in 1900 by Frank Baum as both a children’s novel and a parable about money reform in the late 1800s. It also addresses the corresponding Midwestern political movement … Continued
When news of the security breaches at Target and Neiman Marcus broke, many people, myself included, immediately thought, “Did I do any holiday shopping at either of those stores?!” followed by “What do I do now and how do I protect myself in the future?” At Sand Hill, we have always been diligent about safeguarding … Continued
The greatest trick the devil ever pulled was convincing the world he didn’t exist.” – Keyser Söze, from the 1995 film “The Usual Suspects” When censors first sat down and watched the movie Psycho, they deemed it to be too violent. In response, Hitchcock reviewed with them the violent scenes frame-by-frame. To their amazement, there was … Continued
“It is tedious to tell again tales already plainly told.” – Homer, The Odyssey The ancient Greeks were great storytellers. That tradition continues to this day – for better and, unfortunately, for worse – as the world has witnessed over the last several years. We fear that just as King Odysseus faced obstacles and headwinds … Continued
“Under current law, on Jan. 1, 2013, there’s going to be a massive ‘fiscal cliff’ of large spending cuts and tax increases. All those things are hitting on the same day, basically. It’s quite a big event.” – Ben Bernanke There is always a lot to be said for keeping things simple, and it is … Continued
“The arch of history is long, but it bends towards justice.” – Martin Luther King, Jr. The future doesn’t seem to be what it used to be. Global financial calamities last year, ranging from the ongoing European sovereign debt crisis to the unprecedented downgrade of our Treasury market, combined with the Japanese natural disaster, the … Continued
“A fronte praecipitium, a tergo lupi” – Latin Idiom lit: “a precipice in front, wolves behind” The world economy once again stands upon a precipice. As the developed economies post slower growth and the emerging economies debate whether inflation or recession is the greater threat, the need for global balance between fiscal austerity and economic … Continued