Articles instructing us how to trim our budgets often target the coffee shop specialty coffees: $3.00 a day compounds to $15 a week $60 a month and so on through your working career. I recently heard a compelling rebuttal to the instruction that we do without our morning caffeine stop. “I’m not expecting any great inheritance” the twenty-something employee declared.
In an investment environment that’s seen endowment assets drop and administrative costs climb many families nationwide are eschewing the cache of small foundations for donor-advised funds. Why? Lower administrative costs and flexibility mean that more money goes to their charitable causes.
In an effort to ensure everyone pays their fair share of taxes on January 1st of this year the Federal government began requiring brokerage firms and other custodians to calculate and report gains or losses on certain customer trades to the IRS.
We’ve all received emails riddled with misspellings from scam artists notifying us that a vast amount of cash is just waiting for us to claim or that something’s amiss with our bank account. All we need to do is enter our bank information and money will be wired immediately and we’ll live happily ever after. Many of these scams are targeted at older people.
On July 21st the newly formed Consumer Financial Protection Bureau (CFPB) took over a range of consumer-product regulatory functions from bank regulators. In addition to mortgages and other credit products the CFPB also is now responsible for the oversight of the three major consumer credit-reporting companies Equifax Experian PLC and TransUnion.