Author Archives: David Toback
Don’t Repeat The Old Generation’s Mistakes With Your Digital Estate Plan
The subgenre of jokes about old people and technology predates the first generation of the iPhone, but a digital estate plan is no laughing matter. Seeing the incredulity on your grandparents’ faces when you describe to them the difference between Instagram and Tik Tok is certainly fun, and so is going to your mother’s… Read More »
For Optimal Retirement Income, Withdraw Money From Your Investment Accounts First
While you are still in your prime working years, decisions related to maximizing your retirement income relate to increasing your earnings and living below your means, so that you can put as much of your income as possible toward retirement accounts and investments on which you can draw after you retire. From this perspective,… Read More »
What Are Lost Heirs, And How Can They Cause Trouble During Probate?
You should never use your estate plan as a way of getting back at family members who have hurt you, but there is no rule saying that you must leave part of your estate to a family member from whom you have been estranged for years. Actually, there is a rule, and it is… Read More »
Places To Look For A Deceased Person’s Will Before Being Sure That The Person Died Intestate
Grumpy administrative assistants will point to a sign on their desks that says, “lack of planning on your part does not constitute an emergency on my part.” When a close relative dies unexpectedly, though, their family must scramble to sort out their financial affairs and initiate the probate process. This is what estate planning… Read More »
Can Your Children Inherit Your Cryptocurrency?
Cryptocurrency started out as a young man’s game, but the same can be said about rock and roll. Of course, one needs look no farther than the likes of Paul McCartney, Keith Richards, and Elton John to see that some people find a way to keep rocking no matter how old they get. In… Read More »
Florida Couple Loses $19,000 In Venmo Scam
Try describing to your grandparents what any of your favorite apps does, and before you are even finished getting the words out, it will be obvious the kinds of trouble the app can cause. Facebook? People post the snarky comments and divisive political views that, in the old days, people kept to themselves in… Read More »
Goodbye, Clutter! Hello, Retirement!
When you are young, your motivation in your career might be making a difference in the world or impressing people with your professional skills or purchasing power. When you have children, your desire to secure a future for them affects your career goals and decisions. After a while, though, you start to feel like… Read More »
Retirement Planning Advice From An Economist Who Is In No Hurry To Retire
Laurence Kotlikoff is a professor of economics at Boston University, and his actions show that his interest in the ways that economics affects people’s daily lives extends far beyond the realm of academia. He served on the Council of Economic Advisers during the Reagan administration, and he ran for president in 2012 and 2016,… Read More »
What Your Bedroom Needs For Safe And Happy Aging In Place
One of the best things you can do to ensure financial security during retirement is to pay off your mortgage, but by deciding to stay in your family home as you age, there are still questions to address. Your house can remain the glue that holds your family together, the site of joyous family… Read More »
The First 3 Estate Planning Documents You Need After Getting Married
People who are cynical about love will tell you that you are nuts to get married, especially if a divorce blasted their financial plans to smithereens. Personal financial celebrity Suze Orman supports your decision to get married, if that is what you and your partner decide to do, but she is outspoken about the… Read More »
