Thank Uncle Sam

Thank Uncle Sam

Peter Mallouk  |  April 20, 2020

TO STAVE OFF the financial impact of COVID-19, the government has unleashed an unprecedented array of stimulus programs, tax law changes and other incentives to encourage economic activity. Result: There’s a slew of financial planning opportunities that can benefit almost all of us. Here are nine of them:

1. Refinance your debts. With the Federal Reserve’s recent rate cut, interest rates are now at their lowest level since 2008. These lower rates will take time to filter through the lending system, but they’ll eventually manifest themselves as lower rates on mortgages, car loans and even credit cards.

Now is a great time to consider refinancing existing loans, especially your mortgage. Indeed, if you have enough equity in your home, you might consolidate some of your higher-cost debt with a cash-out refinancing, using proceeds from your mortgage to pay off, say, your credit card balances.

2. Fund retirement accounts early. If you’re still working, consider accelerating contributions to your IRA, as well as to your 401(k) or similar employer-sponsored retirement plan. By completing your annual contribution earlier in the year, you’ll enjoy a longer period of tax-favored growth, plus your contributions will buy stocks at prices that are well off their previous highs.

One caveat: If your 401(k) investments earn an employer match, confirm with your human resources department that changing the timing of your contributions won’t impact the match.

3. Check on your stimulus. The government is in the process of rolling out direct payments to taxpayers, with the amount received varying by income, marital status and number of dependents.

Unsure if you’ll receive a payment? This link   https://www.kiplinger.com/tool/taxes/T023-S001-stimulus-check-calculator-2020/index.php   can show you how much your payment might be. Want to get your payment faster with direct deposit or, alternatively, check on your payment’s status? Go here.  https://www.irs.gov/coronavirus/economic-impact-payments

To continue reading, please go to the original article here:

https://humbledollar.com/2020/04/thanks-uncle-sam/

Is It Better to Borrow From a Bank or Private Lender?

Is It Better to Borrow From a Bank or Private Lender?

By Tex Freitag

If you’re considering a personal or business loan to get you through a financial hardship, you need to know the difference between a bank and private lender.

Many people need financial help from time-to-time, and most commonly this is in the form of a loan. While there is a myriad of loan types on offer today, two of the most common include a standard bank loan and a private lender loan.

But what is the difference between these two loans and why choose one over the other? Let’s see how private lender differ from bank loans and the pros and cons of each:

How Do Private Lenders Work?

Private lenders are generally businesses or individuals looking to invest in sound business opportunities. In other words, they are in the business of making money, by lending money in the form of an investment. Check out Money Trumpet for brilliant private lender access.

Private lenders are more entrepreneurial in nature, so the outcome of their investments vary. This means that a private lender can be a little more lenient when it comes to qualifying for a loan.

Private lenders have one main priority when lending money: mitigating risk. Some of the most important considerations they will look at when making an investment include: market value, borrower equity, and credit, additional collateral, pricing strategy, exit strategy, and due diligence.

How Do Traditional Bank Loans Work?

Banks are the largest lending institutions you can get and probably the first place people think of when considering a loan. This is especially true for businesses. Bank loans typically offer the lowest-cost financing, but they’re not always easy to qualify for.

Bank loans are often secured by collateral if you have a poor credit score or financial history. The interest rate on a bank loan is determined by your credit score, too. Bank loans must be paid back over a certain period of time, with regular payments usually deducted off your checking account each month.

If you qualify for a bank loan, this is one of the most affordable ways of maintaining cash flow for a business. It also allows you the opportunity to expand your business without huge loan repayments hanging over your head.

The Pros and Cons of Private Lender Loans

To continue reading, please go to the original article here:

https://lenpenzo.com/blog/id60561-is-it-better-to-borrow-from-a-bank-or-private-lender.html

My Life Philosophy: 51 Lessons From 51 Years

My Life Philosophy: 51 Lessons From 51 Years

 By J.D. ROTH  25 March 2020

Happy birthday to me!

Today, I turn fifty-one. Holy cats, that's old! It's also a very, very strange time in this world. Kim and I had planned to celebrate by spending the weekend with my brother somewhere else in Oregon. With the coronavirus crisis in full swing, that's not going to happen. Oregonians have been ordered to stay at home with family unless absolutely necessary. So, we'll celebrate today with the dog and cats.

As I do every year here at Get Rich Slowly, I'm going to commemorate my birthday by sharing some of the most important things I've learned during my time on Earth. These are the core pieces of my life philosophy.

I'm no wiser or smarter than anybody else. And I'm certainly no better. But I am an individual. I'm my own person with my own personal preferences and personal experiences.

These have all jumbled together over the past fifty years to give me a unique perspective on life (just as you have a unique perspective on life). To quote my favorite poem:

Much have I seen and known; cities of men And manners, climates, councils, governments,

Myself not least, but honour'd of them all; And drunk delight of battle with my peers,

Far on the ringing plains of windy Troy. I am a part of all that I have met…

So, these fifty-one nuggets of wisdom are things I've found to be true for me — and, I believe, for most other people. (But each of us is different. What works for me may not work for you.) These beliefs make up the core of my personal philosophy of life.

For obvious reasons, some of these notions overlap with the core tenets of the Get Rich Slowly philosophy. Plus, long-time readers will recognize this as an article I update every year on my birthday.

Some of these ideas are original to me. Some aren't. When I've borrowed something, I've done my best to cite my source. (And I've tried to cite the oldest source I can find. Lots of folks borrow ideas from each other. There's nothing new under the sun and all that.)

Here are fifty-one principles I've found to be true during my fifty-one years on this planet. I'll lead with this year's new addition.

Love yourself. All my life, I've struggled with low self-esteem. There have been times when I've hated myself. Last year was especially tough for me as anxiety and depression proved to be crippling for several months. Working with a therapist has helped. She's helped me to understand that it's important to learn to both accept myself and love myself — even though, like everyone, I'm imperfect. I still have a long way to go, but I'm making progress.

Self-care comes first. If you're not healthy, it's tough to be happy. Before you can take care of your friends and your family, you need to take care of yourself. Eat well. Exercise. Nurture your mind, body, and spirit. Your body is a temple; treat it like one. If you don't have your health, you've got nothing.

To continue reading, please go to the original article here:

https://www.getrichslowly.org/my-life-philosophy/

Is the Coronavirus Killing Off Cash?

Is the Coronavirus Killing Off Cash?

By Nancy Scola  Politico April 17, 2020

Stores are shuttering all over the United States, and many of those still open are balking at cash. Shoppers are switching orders to Amazon and Walmart.com. Many restaurants that have stayed open won’t take cash, and operate without any contact at all, requiring customers to pay first online.

What once seemed like the oldest, most reliable way of paying now seems fraught: A physical object changing hands, bringing people closer than 6 feet, covered in who knows what.

“Do I want to grab the thing that you were just holding in your hand? No,” says Harvard economist Kenneth Rogoff, who has advocated for a less-cash society, and predicts the crisis “is absolutely going to drive people to prefer credit and debit to cash.”

Or, as one Twitter user, @DonGone5 put it last week, “Still no cash accepted. $10 dollar bill now been in my wallet so long, Alexander Hamilton has shot himself.”

Filling the void, in many cases, are digital payments that are quick, clean and easy. That sudden shift is a huge opportunity for tech firms such as online payments giant PayPal, which also owns the Venmo app.

CEO Dan Schulman says the company is seeing the number of new customers setting up accounts each day “basically double” from prepandemic rates. Square, the digital payment company run by Twitter CEO Jack Dorsey, has found itself fielding calls from merchants whose customers no longer want to touch any surfaces.

Some of the change might be temporary. And some might not—which has Silicon Valley excited, and others worried.

For years, tech companies have been pushing toward a more virtual, less cash-based payments system, and pressing regulators to free them from the restrictions that govern traditional banks. Now, in the U.S., the government has been moving in this direction of its own accord, discouraging paper checks in a rush to get stimulus money out to Americans.

But the sharp jag away from cash also worries those who look out for older and poorer Americans—groups that tend to be more reliant on paper money either for lack of tech savvy, out of habit or because they don’t participate in the formal banking system.

“Even in this pandemic crisis, we have the same vulnerable people we had before that did not have access to banks or credit cards,” says Vallie Brown, a cash advocate and former Democratic member of San Francisco’s Board of Supervisors.

There’s an ideological component as well: Among cash’s strengths is that it’s universally accepted and difficult to track, giving Americans a just about anonymous way to, say, donate to their preferred church or live out their life as a persecuted minority or back a dissident group. “Some of us still use cash because we think it’s nobody’s business,” says Jim Harper, a visiting fellow with the libertarian-leaning American Enterprise Institute.

For more than 200 years, paper cash has been at the heart of the American economy. How close could coronavirus come to killing off cash—and if it does, is society ready?

Money habits can be hard to break. It took years for ATMs to replace visits to human bank tellers; now, Americans withdraw cash from them at a rate of some 5 billion times a year.

To continue reading, please go to the original article here:

https://finance.yahoo.com/news/coronavirus-killing-off-cash-235546969.html

Getting Comfortable With the Uncomfortable

Getting Comfortable With the Uncomfortable

April 16, 2020 Banker On FIRE Personal Development 11

Feeling comfortable?

In a way, aspiring to financial independence is all about comfort.

Forgetting what the jam-packed commute feels like.  Never having to deal with workplace politics again.  Leaving all the money worries behind and spending the rest of your days in a state of pure bliss and relaxation.

If that doesn’t sound absolutely grand, I don’t know what does.  That is, until you consider all the thorny patches on the road to this state of hedonistic nirvana.

The most obvious one is spending less than others.  In a society where the majority of people are programmed to spend at least as much (if not more) than they make, putting a lid on your spending isn’t easy. There are good reasons for it, too.  Humans are social animals.  Ever since we emerged as a species, social acceptance played a key role in our survival.

Just imagine getting kicked out of the cave for being “different”.  That certainly didn’t increase anyone’s chances of making it through the night – and keeping their genes in the pool.

As a result, thousands of years down the road we are now coming off the assembly line with a default setting that causes us to mimic the behaviour of our “pack” to avoid a disastrous outcome.

It takes a lot of hard work and painful introspection to re-program the way our brains are designed to work.  And the further up the food chain you are, the starker the comparison.

Some people just can’t bear to rock the iPhone 6 like I have been for the past five years.  For others, flying commercial is an absolute deathblow to social ambitions (unless you can claim it’s all about climate change).

No matter how obnoxiously wealthy you may be, there’s always someone with a bigger yacht – or a prettier private island… tough life!  And if you do manage to get your own psyche under control, you’ve then got to get your significant other on board too.

For many people, it’s a task akin to having to stare down Federer’s serve at love – forty, what with the ball boys, audience and umpire all squarely in his corner.

Making More Money

There is an alternative of course.  Find some middle ground in terms of spending and focus on increasing your earnings instead.

But dig one level deeper and you’ll find that it’s not so straightforward either.

To continue reading, please go to the original article here:

http://bankeronfire.com/getting-comfortable-with-the-uncomfortable?utm_source=rss&utm_medium=rss&utm_campaign=getting-comfortable-with-the-uncomfortable

Why It Makes So Much Sense To Own REAL Assets

Why It Makes So Much Sense To Own REAL Assets

Notes From The Field By Simon Black 

April 16, 2020   Bahia Beach, Puerto Rico

Earlier this week we talked about why the economic consequences of this pandemic could last a lot longer than what a lot of people expect.

Now, I say all of this from a position of complete ignorance and uncertainty. Nobody knows what’s going to happen next, or how long this pandemic will last.

But to simply expect that everything will return to normal in a few weeks-- and willfully ignore the countless other possibilities-- seems a bit foolish.

Worldwide, the number of deaths from Covid-19 reached 138,000. That’s more than double the number of deaths from 10 days ago. So it’s still growing.

Singapore was initially successful in controlling the virus outbreak. But they’re now experiencing a nasty second wave of infections.

In the US alone, more than 20 million people have lost their jobs so far, and the government’s $350 billion program to bail out small businesses has already run out of money.

It’s great to hope for the best. But let’s be realistic: there are a lot of reasons why the economic consequences of this pandemic could be long-lasting.

And that’s what brings me to real assets.

If the negative consequences linger, it’s reasonable to expect that governments and central banks will shovel piles of cash into their economies at a feverish pace.

Most developed nations have started this already.

In Australia, the government has passed at least $130 billion in stimulus measures so far-- a princely sum in a country where the population is just 25 million people.

The British government has passed hundreds of billions worth of loan guarantees, grants, and tax cuts.

Germany’s government has passed more than 750 billion euros worth of loans and stimulus programs.

Canada’s central bank slashed its benchmark interest rate to 0.25%, and cut bank reserve requirements, in addition to billions of dollars in stimulus programs.

And the United States government has spent trillions of dollars already; plus the Federal Reserve has conjured more than a trillion dollars out of thin air to loan money to banks and businesses.

It’s likely they’ll keep printing money if the economic pain persists.

Second wave of outbreaks? Print another trillion dollars to bail out businesses.

Massive corporate layoffs? Print another 2 trillion dollars to bail out employees.

Skyrocketing loan defaults? Print another 5 trillion dollars to bail out the banks.

Now, consider that they’d be printing all this money at a time when economies are shrinking by 20% or more.

So we’d see a tidal wave new money flooding into an economy where fewer goods and services are being produced.

This is precisely how a currency loses value: if there’s less stuff in an economy, but more paper money, it means all the stuff has to become more expensive relative to the paper money.

That’s ultimately what inflation is.

Throughout history whenever this situation has arisen, it’s almost invariably been a good idea to own real assets, i.e. direct ownership of an asset that cannot be conjured out of thin air by a central bank.

Real assets include things like productive land, shares of a well-managed private business, or physical gold and silver.

These are assets that cannot be willed into existence by a government or central bank. And they don’t simply exist on paper, or as an entry on a balance sheet.

They’re real. And they tend to do very well in an inflationary environment where ridiculous sums of money are being printed.

Most people don’t have an easy opportunity to buy productive land or shares of a well-managed private business.

But gold and silver are totally within reach. And here’s something really interesting about them:

The chart below shows you the ratio over the past 50 years between the price of gold and the “M0 monetary base”.

As you can see, right now this ratio is well below its long-term average.

(M0 is just one method economists use to measure the supply of money in the US economy. But using other methods, like M2 money supply, the ratio is still below its long-term average.)

This low ratio suggests that the gold price is cheap relative to the amount of money in the economy right now. And it stands to reason that the amount of money in the economy is going to increase a LOT.

And that means the price of gold could also increase a lot.

But if gold is relatively cheap, silver is even cheaper.

As I wrote to you on Monday, the gold / silver ratio is near an all-time high. In other words, it takes twice as much silver to buy a single ounce of gold relative to the long-term average.

So while there’s a good case that the price of gold can increase quite a bit, it’s possible that the price of silver could rise even more.

There are, of course, risks. Nothing is certain, especially in this environment.

But there are some inexpensive ways to bet on rising gold and silver prices where you could make potentially 10x your money or more, even with limited amounts of capital.

We’ll talk about these next week.  For now, stay safe and healthy.

https://www.sovereignman.com/trends/why-it-makes-so-much-sense-to-own-real-assets-27658/

To your freedom & prosperity, Simon Black, Founder, SovereignMan.com

The Seven Stages Of Sudden Wealth

The Seven Stages Of Sudden Wealth

By Douglas Wolford

The path to wealth is often a slow one, a journey that takes place one step at a time over the course of several decades. But for some people, certain events—receiving an inheritance, selling a successful business, winning the lottery—can create a rags-to-riches experience, seemingly overnight.

When that happens, the results can be both thrilling and confusing. I’ve seen many clients, colleagues, and close friends go through a period—and a process—of adjustment to sudden wealth that, unless anticipated and managed consciously, can be very jarring.

The goal of this primer is to provide a preview of the psychological transformation you, or someone you care about, may encounter when coming to terms with this newfound wealth. And so, with respect to Elizabeth Kübler-Ross, on whose famous model this primer is loosely based, I offer you what I call the Seven Stages of Sudden Wealth.

Opening Thoughts: Let’s be clear— there are many, many worse things in life than quickly coming into money. But sudden wealth does have its challenges. Perhaps the most difficult part is the sense of isolation: no one wants to hear someone complain about the difficulties of being rich.

Thus, it’s important to connect with a community of people who understand both the trials and privileges of good fortune, and can help you create a plan for the years ahead. The sooner you can do this, the more likely you are to come to terms with your new life in a healthy, productive manner.

Stage One: Numbness and Disbelief

These feelings may be amplified if you come from a modest background. The contrast between what your life has been and the new direction it is taking may be too overwhelming to process quickly—both for you and the people around you. Just like any shock to the mind, it takes time to adjust and comprehend the new life that is just around the corner.

Be easy on yourself, and give yourself time to absorb your new situation. ‘Is this really happening? How is this possible?’ It’s not uncommon to go through a lengthy period of numbness and disbelief, particularly in the period between learning that a hefty sum is headed your way and actually receiving it.

It is totally normal to feel like everything is ‘unreal’ or that you are having an out-of-body experience. Spouses, friends, and family members may have similarly shocked reactions.

Stage Two: Generosity and Expansiveness

As you get used to the notion of having money, it’s natural to want others to become comfortable with the idea too. In our culture, there is a growing sense of discomfort about being richer than other people around you. This is the time when people often begin sharing their money with others in an attempt to make those around them feel as if they are also wealthy.

 The intent can be noble—who wouldn’t want to share good fortune with their friends and loved ones? But there can be an underlying sense of guilt at work as well, with lavish gifts being used to mollify these sordid feelings.

To continue reading, please go to the original article here:

https://www.summitas.com/files/pubarea/article/Convergent%20-%20Seven%20Stages%20-%202015%2009.pdf

Income Isn’t Wealth

Income Isn’t Wealth

John Goodell    April 15, 2020

MY WIFE AND I recently read The Ant and the Grasshopper, from Aesop’s Fables, to our youngest daughter. If you recall, the grasshopper mocks the ant for spending all his free time amassing food. But when winter comes, the starving grasshopper begs for assistance—and the ant refuses.

Lately, I’ve been struck by the irony of this parable. As we celebrate the role of physicians in keeping us all safe from a virus, that same virus is slowly starving physicians of their salaries. How am I acutely aware of this bizarre conundrum? I’m married to a family physician.

Before you break out the world’s tiniest violin, allow me to paint a picture of what I and others are witnessing across the nation. The economics are startling, even if the personal finance lessons are a well-worn, cautionary tale.

Since this virus’s arrival on our shores, more or less all of us are now under some kind of quarantine, except essential workers. As hospitals have halted their elective procedures to free up bed space and medical equipment, their revenue has taken a massive hit.

In addition, many outpatient clinics have closed to prevent the spread of the coronavirus. Our once-booming economy has now ground to a halt—even for the medical field.

Those clinics that remain open have seen a dramatic decline in patients, who are presumably afraid they’ll get the virus by visiting the doctor. I went to my doctor’s office recently. It was a ghost town.

It’s usually packed with people, but there were no other patients the entire time I was there. Many offices, including my wife’s, have gone to virtual medicine via video platforms, which has helped alleviate—but not eliminate—the financial burden.

Keep in mind that these same doctors are on standby if or when hospitals become overwhelmed. They will begin seeing patients to relieve the strain on hospital staff. In fact, that exact scenario is playing out in New York right now. Other hospital systems around the country have told their physicians to be prepared to do the same.

To continue reading, please go to the original article here:

 https://humbledollar.com/2020/04/income-isnt-wealth/

Are You Living Beyond Your Means?

Are You Living Beyond Your Means? The Warning Signs to Watch For
Post From Invested Wallet

Posted in Dinar Recaps Archives on 7/9/2019

In our consumer and debt-heavy society, living beyond your means is all-too-common. And unfortunately for us, it can put us in tricky financial situations.

Considering how easy it is to impulse buy online and use credit cards we end up spending more than we make.

This process has become so normalized, that we overlook the financial dangers and live a lifestyle that can be too expensive for our own good.

While it may seem okay because so many are living beyond their means, it shouldn’t mean you need to endanger your own financial well-being.

Below are a few warning signs you should watch to ensure you are not living beyond your means.

You Notice You are Living Paycheck to Paycheck

78% of full-time workers said they live paycheck to paycheck (CNBC)

Now, this might not signal right away that you are living beyond your means. You might be underpaid, living in an expensive area, or have some other financial circumstances putting you in this situation.

However, a lot of times you may be upgrading your lifestyle or just overspending that causes you to barely squeak by every pay period.

Take a step back, look at your paycheck and see where your money is going every week. You may discover that there are some cutbacks you can do to help you get out of the paycheck to paycheck slump.

I’ve been there before and it’s not fun. Even though I was only making $36,000/year at the time, had I not been overspending on my lifestyle that situation would have been different.

You Have Little Saved or No Emergency Fund

One thing I roll my eyes to in most personal finance articles is when they talk about having an emergency fund. We all should know it’s important to have one and we all do typically want to save money.

To continue reading, please go to the original article at

https://investedwallet.com/living-beyond-your-means/

5 Money Lessons Grandparents Can Teach Their Grandkids

5 Money Lessons Grandparents Can Teach Their Grandkids

Starting as young as age 3, your grandchildren could reap a lifetime of rewards from these five basic financial skills.

If you are like many grandparents, you like your kids, sometimes, but you LOVE your grandkids. Being a grandparent is a special honor. You have a unique ability to shape your grandkids well beyond just spoiling them with sweets and sending them home.

Given how important financial skills are to succeeding at life, it’s surprising schools don’t teach our children more about money. As a grandparent, however, you can teach your grandkids important financial lessons — and you should! These lessons can leave a positive mark on your grandkids for decades to come.

Lesson 1 (ages 3-8): Delay gratification.

You may have to wait to buy something. This is a hard lesson for people of any age to learn, but building the foundation early is a key to financial success. It’s easy for adults simply to buy things for grandchildren who are looking up at them with pleading eyes. 

Instead, help them save money and set a goal to buy the item of their dreams. Create a “savings jar” that is clear, so they can see the progress, and help them count the money as they add to it.

Lesson 2 (ages 8-14): Hard work never hurt anyone.

There is a sense of satisfaction in us all when we work hard for something and achieve it. While we’re certainly happy to live in a country and time where 8-year-olds are not working in factories, completing some kid-friendly chores around your home — like raking leaves, dusting or cleaning up the garage — could help teach a valuable lesson about work and reward.

As your grandkids get older, encourage them to become entrepreneurs by starting their own business babysitting, pet sitting or mowing grass. It’s a lesson that will serve them well throughout life.

To continue reading, please go to the original article here:

https://www.kiplinger.com/article/retirement/T065-C032-S014-5-money-lessons-grandparents-can-teach-grandkids.html

5 Ways NOT to Gift to Children

5 Ways NOT to Gift to Children … and 5 Better Ideas

By DANIEL A. TIMINS, ESQ., CFP® | Law Offices of Daniel Timins

Parents who mean well sometimes put their children in a position to blow it.

Giving to children can be a weakness. We often want to help children actualize their financial goals and give them an easier life than we might have had. However, gifting to children can also be a disaster:

We all realize that many children are irresponsible with money, do not have enough life experiences yet to protect it, and are targets of those interested in getting a piece of the money you gave them.

Here are five common and less-than-ideal gifting scenarios, and suggestions you can use to protect your assets:

1. Gifting a Child a Highly Appreciated Asset

Capital gains taxes elicit less attention than income and estate taxes because they are usually assessed at a lower percentage (15% or 20% for capital gains taxes vs. 40% for estate taxes). However, if you gift assets during your life, capital gains are the taxes that require the most vigilance to avoid.

If I gift my children my old shares of ABC company stock, which I bought for $10 a share and now sells for $100 a share, my child also receives my cost basis, meaning they have a $90 per share capital gain they owe taxes on.

The Better Idea: Gift cash or stock that has minimal appreciation. If I bequeath the stock after I pass away, the cost basis is “stepped up” to the value of the stock on the date of my death, meaning they now have a $100 cost basis per share and no capital gain if they sell it immediately. Therefore, you should hold onto highly appreciated stock and bequeath it after your passing so its cost basis “steps up” upon your death.

2. Naming Children as Joint Owners on Real Estate

In many parts of the country home prices have skyrocketed: For too many children the notion of ever becoming a homeowner without some help from family members is impossible. However, the issue that caused the problem in the first place (expensive housing) now snowballs, because Mom and Dad not only have to help with a down payment, they also have to name themselves on the mortgage.

There are additional issues that arise for different people buying real estate with their children: More wealthy individuals may be depleting their gift tax exemptions and not know it, children with their own college-age kids may be hurting their financial aid opportunities if the real estate is a second residence, and younger children with uncertain job opportunities may rely on Bank of Mom & Dad to pay mortgage and real estate taxes for a long time.

The Better Idea: Carefully consider the consequences of future real estate expenses and co-signing a mortgage with your child. Lay out expectations, and have a back-up plan of your own if your child cannot find stable income to fulfill his side of the bargain.

To continue reading, please go to the original article here:

https://www.kiplinger.com/article/taxes/T021-C032-S014-5-ways-not-to-gift-to-children-and-5-better-ideas.html