Despite an economic recession, the nation's net worth has increased by $23 trillion during the past 15 years, according to the Federal Reserve. And as Americans' financial assets grow, many may be asking themselves, Where should I invest my wealth?
Imagine 100 people who start working at age 25. “By age 65, 1 percent will be considered wealthy; 4 percent will have enough money saved for retirement; 3 percent will still be working; 63 percent will be dependent on Social Security, friends, relatives or charity; and 29 percent will be dead,” says Alan Skrainka, chief investment officer at Cornerstone Wealth Management and author of the book Principle Based Investing: A Sensible Guide to Investment Success. “That’s frightening stuff. So I’m on a mission, trying to save the world—one investor at a time.”
No matter the size of a donation, when someone gives money to charity, they have some level of confidence that it will be used for a specific purpose. And that expectation only grows with the size of the gift, particularly if there’s a donor agreement in place. The book, Abusing Donor Intent: The Robertson Family’s Epic Lawsuit Against Princeton University, was written by Doug White, director for the Master of Science in Fundraising Management program at Columbia University. In it, he digs into a high-profile case where the donors accused the university of misusing their charitable gift. We asked the author about the case, its implications, and steps donors should take before giving their hard-earned funds—no matter how noble the cause.
Perhaps you purchased the right painting at the right time. That is a possible outcome of investing in collectibles—and so is having a basement full of Beanie Babies.
Meghan Christina Blase and Charles Brian Flynn
You’ve worked hard building your career, raising your children and accumulating assets. Now, you’re entering into a second marriage…Should a prenuptial agreement be part of the equation to protect these important parts of your life?
In support of the expansive, publicly funded St. Louis County Library (SLCL)—which includes its headquarters and 19 branches—there is the SLCL Foundation, which works to fill in gaps in funding and other resources.
From walking up the red carpet to strutting down the runway, kids will be in the spotlight at the Friends of Kids with Cancer Fashion Show and Boutique on Nov. 6 at The Ritz-Carlton, St. Louis. “It’s like the Academy Awards,” says executive director Judy Ciapciak.
If anyone can outwit Father Time, it just might be Ellen Port, who recently won her ninth Missouri Women’s Golf Association Amateur Championship at The Golf Club of Creekmoor in Raymore.
If you’ve been watching the returns on your savings account lately, you might have noticed the numbers are not as high as they once were. The historically low prime rate, which gets passed along to the rates that savers earn from their banks, has many consumers wondering, Where can I find higher yield?
The Acropolis has stood in Athens for more than 1,000 years. That symbol became the inspiration for the name and philosophy behind Acropolis Investment Management. “We liked the idea of a strong, safe place that serves as the citadel during good and bad times,” says David Ott.
When it comes to saving, things can get a lot more complicated than clipping coupons and knowing how to balance a checkbook. For many, adopting bad routines can stop the balance in your bank account mid-climb. Three area financial advisers spoke to LN about bad habits they see that can prevent you from building wealth—and how to break them.
Marilyn Bush recites a favorite quote by author and activist Alice Walker: The most common way people give up power is thinking they don’t have any. Bush, senior VP at Bank of America, is dedicated to empowering women to form strong relationships with each other while contributing to the community.
Last fall, Bud Drennan was raking leaves in his yard when he took a step back and thought, Maybe I’ve had enough of this. The retired Merrill Lynch stock broker had lived in his house for 48 years, but had been there by himself since his wife succumbed to Alzheimer’s seven years earlier. “Once I made up my mind, the question became, Do I want to buy a condo in Clayton? Or do I just want to make one leap?”
People are living longer, often creating more time to enjoy retirement. But with these additional golden years also comes the need to finance them. That’s why local financial advisers remind older adults that it’s never too late to plan for retirement.
Whether you have an infant, toddler or teen, most mothers—at some time—consider a return to the working world. This decision, however, often is accompanied by contradictory feelings. Guilt that you will be away from your children, relief that you will be away from your kids—or guilt that you might actually feel relieved.
Everyone’s got a past. But, of course, some are just naturally more interesting than others. Three area realtors opened up to LN about how they got to where they are today, and how they transfer the skills they gained in previous careers to give them an edge in real estate industry.
Three months after he was shot while deployed in Afghanistan, Cpl. Tyler Huffman returned to his father's home in Fulton, Missouri. He had been injured in the spine, lung and liver, and was now paralyzed from the waist down. To his surprise, a welcoming committee awaited his arrival—and thanks to the Semper Fi Fund, there was more in store for this Marine.
Parents dream of the day when their child will walk across the stage to receive a college diploma. But in the case of divorced couples, the mounting costs of higher education—books, room and board, and tuition—can create conflict.
Sometimes—on very rare occasions—when something sounds too good to be true, it actually isn’t. Some 51,000 people found that out in the first quarter of this year alone, through the efforts of RxOutreach, Inc.
It’s approaching that time of year again: People are getting ready to pack their bags for summer vacation. But before you leave for some rest and relaxation, local attorneys say organizing your affairs—from family to work matters—should be a top priority.
It’s often noted that only the strongest businesses thrive during tough economic times. While it’s no secret that many financial institutions were hit hard by the economic downturn that began in 2008, Reliance Bank is among those that seem to have come out from the recession stronger.