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How to Have Difficult Financial Planning Conversations with Aging Parents

By 2029, all 76 million American baby boomers will be 65 or older . With age may come wisdom, but it also comes with a variety of questions around lifestyle and legacy. Older Americans must consider everything from where they want to live to how they plan to support themselves as they age.  Adult children of aging parents may struggle with how to support them in these transitions—while not knowing when or how to discuss their parents’ needs with them. Aging parents may be uncomfortable about changing roles with their children and avoid conversations regarding these subjects. Often, these discussions are put off until an emergency occurs—a fall, an illness, mental decline—when loved ones must scramble for information and solutions. Angela Dorsey, CFP and founder of Dorsey Wealth, serves many clients navigating these transitions and has personal experience tackling these issues with her own parents. She thinks its invaluable for adult children to have these financial planning conversat
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Investment Advice: Know Your ‘Why’ Before Moving Your Money

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CaskX , which launched in 2020, is one of many new opportunities that embody how the face of investing has changed over time. The company offers investors a smooth way to grow their net worth by buying scotch and bourbon barrels directly from distilleries, letting them age and then selling them to buyers who don’t have the time to age their own products. “It’s one of the few investments that has historically gone up in value regardless of market conditions,” says Jeremy Kasler , the company’s founder and CEO. Although millennials and Gen Zers are drinking less these days than their predecessors, people who are drinking are spending more on higher-quality products, he says. Generally, investors can expect to double their investments within about five years. But the longer they hold them, the more valuable they’ll be. Expert advice on investment The trick for distilleries, though, is that most don’t have the time or capacity to hold onto their barrels for three, six or 12 or more year
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Mindfulness at Work: How to Audit Your Workspace and Maximize Well-Being

Ever wonder if your workspace is helping you be as calm and efficient as possible? Many of us are so busy trying to get all our work done that we don’t stop to take in and appreciate the environment where we spend so much of our time. With more people trying to manage stress and anxiety while staying as productive as possible, it is imperative to practice mindfulness at work and set up your workspace to boost overall health, well-being and success, whether working from home or in an office.  To determine if your workspace is serving you with these goals in mind, you can conduct a mindfulness audit. Similar to an energy audit, a mindfulness audit assesses the space so you can make personal changes for maximum peace and productivity.  In The New Mindful Home (And How to Make it Yours) , interior stylist and author Joanna Thornhill explains that creating a mindful room “is about far more than simply picking out a wallpaper pattern that cheers us up or doing a bit of decluttering. It’s
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Why You Should Think Twice Before You Monetize Hobbies

People don’t necessarily set out to monetize hobbies. Sometimes a hobby becomes costly, and earning some cash is a way to offset the expense. In other cases, we’re approached by people who wish to purchase the fruits of our free-time labor. Often, getting paid for your hobby feels like a low-barrier route to making more money while combating the rising cost of living. A path to profit materializes, and before we know it, the hobby that used to help us unwind has become work. Clinical psychologist Marianne Trent, DClinPsy, says we must consider hobbies’ original function. “The pursuits that give us pleasure… allow us to decompress… take a breath, [and] be more mindful…. [They help us] regulate the damaging effects of our stress hormones on our body.” The risk of losing passion when you monetize hobbies  Cake designer Nina Kamal spent her free time baking beautiful cakes as a hobby. “The more you do something by hand, the more you want to do it better the next time, and it just turned
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Giving Back: DKMS Is ‘Deleting’ Blood Cancer, One Donor at a Time

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In 1990, Katharina Harf’s mother, Mechtild, was diagnosed with acute leukemia. She needed to find a stem cell donor, and none of her six siblings or other family members were a match. But there was a bigger problem. “Back then, there were only 3,000 donors on the German registry,” says Harf of the country where she was born and raised. “And basically, 3,000 donors is nothing if you want to find a donor.” This is how, in 1991, DKMS (or Deutsche Knochenmarkspenderdatei, if your German is good) got its start. Katharina’s father, millionaire Peter Harf, a brilliant businessman and longtime executive with the multinational beauty company Coty Inc ., began raising awareness of this dire need for stem cell donors in Germany and helping people register with the life-saving national bone marrow registry. A 14-year-old Katharina Harf was there in those early days, handing out flyers, appearing on TV shows and doing radio interviews alongside her sister. “It was hard, you know? It’s very impo
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Top 12 most profitable online businesses for 2024 (plus Net Income Calculator)

Hey, Ramit here. As an NYT bestselling author who’s helped over 50 million readers and 50,000 clients build online businesses, I’ve seen what works (and what doesn’t) in the ever-changing digital world. In this guide, I’m sharing the 12 most profitable online businesses you can start in 2024. These tried-and-true models are primed for success, […] Source from I Will Teach You To Be Rich https://ift.tt/TBkuA3g
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Asking Better Interview Questions Will Help You Land Better Candidates. Here’s How

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You buy a new blazer to ensure your top half looks great on Zoom . You test your audio multiple times. Your resume is polished, your cover letter impeccable and you have researched your potential new company extensively. Then, you are hit with a question out of left field, and you have no idea why. Maybe it’s, “So tell me about an embarrassing time at work and how you responded?” or “If you were a tree, what tree would you be?”  Like any candidate, you wonder what the heck that has to do with your skills, talent and fit at the company—and you aren’t wrong. “Transparency is important because the interview process is fairly opaque to candidates that are applying, because they don’t know what’s happening or why it’s happening, so they’re not able to bring their best self to the process,” says Laura Gassner Otting, speaker, author and executive search veteran who believes in asking better interview questions. She adds that many of us haven’t had career counseling for many years, often si
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