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Bankruptcy: The Power of the Clean Slate

It doesn’t take many clicks online to find writing and advice on how to shape up your finances, even First30Days has a great financial advice section found here. There are...

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Our Planning for Retirement Experts

Matthew Tuttle

Matthew Tuttle

Certified financial planner and author

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Jonathan Pond

Jonathan Pond

Author of The Boomer's Guide to a Great Retirement

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Terry Savage

Terry Savage

Personal finance columnist for the Chicago Sun Times and best...

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Give It Away Now

You’ve worked hard for the money, as the song says, but now that you’re planning for retirement, your thoughts will turn to where all the money will go. Of course you’re saving some for yourself, but if you have kids or other family members you’d like to leave something to, it can be a confusing process to decide how that will happen.

The definitions of wealth and inheritance are changing. Families often set up charitable trusts or foundations that set out parameters for how an inheritance will be passed on so that children do not simply have access to hundreds of thousands of dollars or more. But, the privilege of leaving behind a financial legacy isn’t all its cracked up to be—money and death are taboo enough without weaving the two together.

Most parents agree that the intellectual and family history left behind is most important, but money still matters. Get some ideas on how to plan your retirement from the experts and make sure you have a nest egg ready—for you and your loved ones.

Posted: 3/18/08