May 27, 2016

Kids and Money

When it comes to teaching kids about money, the earlier you teach them the better. Learn about the financial lessons that David John Marotta taught his daughter, Megan, as a child in her series Rich Dad, Rich Daughter or explore some of our lessons for college students in the two part series, Learning to Live on Your Own.

Ten Principles for Teaching Children about Money

Ten Principles for Teaching Children about Money

Here are ten principles for teaching children about money.

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Family Budgeting

Family Budgeting

If a budget isn’t a team effort, one member of the family will hold the purse strings and everyone else will be resentful.

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How To Instill Good Financial Habits In Your Children

How To Instill Good Financial Habits In Your Children

Give your children experience spending their own money.

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Does Your College Saving Need a Christmas Gift?

Does Your College Saving Need a Christmas Gift?

Some years, we fall behind and I try to make a year-end contribution to get us caught back up again.

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Gifting Appreciated Stock To Family Members

Gifting Appreciated Stock To Family Members

For children with lower incomes, there is an opportunity to give them appreciated stock to shift the capital gains to a lower tax bracket.

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What is the Kiddie Tax?

What is the Kiddie Tax?

The kiddie tax was first added to the tax code in 1986 for children under age 14. Now, it can burden them until they are 23.

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Trust Protections from Creditors and Spendthrift Beneficiaries

Royal Guards

The beauty of trusts is that they are very flexible, and an estate lawyer can help you craft a document that will follow your wishes and give you peace of mind.

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Financial Christmas Gift Ideas

Colorful Gift Wrapping

Financial Christmas gifts don’t need to be a piggy bank. They can be more serious and more meaningful than that.

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Radio: The Rising Debt of College Education

Grad in Green

David John Marotta and Rob Schilling discussed the ways current policy makes college more unaffordable, and what students and parents can do about it.

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The Worst Advice Given to Me

Worst Advice

Milestones in life encourage advice. In 2012, I graduated, got married, and started a job and then this year, I bought a house. I received a lot of great advice, but here is some of the worse advice I was given.

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Overspending Retirement Income

Sailboat to Money Island

Several issues can cause retired clients to deviate from their safe spending rates.

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8 Worst Money Tips for New Grads

Worst Advice For Grads

My recent column, 8 Worst Money Tips for New Grads, was recently published on Yahoo Finance. I originally wrote this column with the voice of a Dutch Uncle admonishing college students to stay out of financial ruin.

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4 Reasons You Are Afraid of Investing

AfraidMarkets_t

This kitten isn’t afraid of the markets. Be more like this kitten.

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Help Recent Graduates Find a Fulfilling Career

AreaOfGenius_t

This kitten knows his area of genius. Be more like this kitten.

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Helping New Graduates Get a Financial Life

College Graduates

Matthew Illian says young adults should read one personal finance book a year to expand their financial literacy. See what books we would recommend.

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Financial Advice for Recent College Graduates

Graduation Caps

Financial advice for college graduates is easy. Graduates street smart enough to take the advice is rare.

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Essential Financial Advice for College Graduates

Graduation Advice

As the wife of a 2013 college graduate and a 2012 college graduate myself, I can boldly say this was the most helpful advice given to me.

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Financially Savvy Kittens on Goal Setting and Keeping

This kitten boldly shares her goals with others.

This kitten boldly shares her goals with others. Be more like this kitten.

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How to avoid the vehicle sales tax in Virginia

Oh My!

“I would like to give my daughter my newer car, but the tax considerations are not simple.”

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College Grads Need Jobs Not Sesame Street Subsidies

Fact check: Jobs for college grads

Are half of college graduates unable to get a college level job?

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Sesamenomics: Bert and Ernie weigh in on politics

Bert and Ernie

A light hearted look at Bert and Ernie’s politics.

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One Income: The Fiscal Challenges for Stay-At-Home Moms and Dads

One Income: The Fiscal Challenges for Stay-At-Home Parents

Financial planning means supporting the goals of stay-at-home parents to be with their children.

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Fund a Teenager’s Million-Dollar Retirement

Megan

We teach teenagers a lot more about sexuality than we do about money. This can confuse them about what they should be learning. Give this article to a teenager and encourage him or her to start a Roth IRA.

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How To Avoid Drowning in College Debt

$ Stress

Debt burdens are relative. For example, a $58k college debt will feel doable to a doctor making $100k+ per year and overwhelming to a lower wage employee. A degree should not cost more than your future earning power will sustain.

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George Marotta featured in Reuters article by Linda Stern

David and George Marotta

The 85-year-old Palo Alto patriarch has turned helping his 10 grandchildren into a hobby that has paid off for multiple generations.

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Rich Dad, Planning Daughter

Rich Dad, Planning Daughter

My money has value because I have values my money helps me achieve. In this season of New Year’s resolutions and old year evaluations, treat your imagination with the question: What’s the money for?

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Krisan Marotta: Creating Family Memories

Krisan Marotta

When our children were young, we decided to budget for memory making. Birthdays, holiday celebrations and family vacations became our primary memory making tools. We invested in birthdays.

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Megan Marotta: Feeding Others.

Megan Marotta

What is my favorite thing I’ve done with money? Feed others.

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Economic Lessons from Farmville

Farmville

To interest me, a game must have a simple but thought-provoking premise that allows for deep strategy. I’d never played Farmville but decided to recently because the parent company, Zynga, is going public this Thursday, December 15, 2011.

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Rich Dad, Empowered Daughter

How to Give Your Child Good Gifts

With impulses reeling, it is easy to find a gift that children will appreciate but difficult to find one that they will love to have. The gifts that I loved to have and the presents that I still cherish are the vocational gifts that my parents purchased for me.

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Rich Dad, Amused Daughter

Doing Fun vs. Buying Fun

Fun has no price tag and cannot simply be ordered online plus $3.99 shipping and handling. It’s true that money can enable experience but it cannot replace it. There is an art to having fun and it needs to be taught.

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Rich Dad, Thankful Daughter

When to Give Your Children Presents

Often times I wouldn’t buy for myself what my parents thought was needed. Items my parents thought were essential for me to own were purchased by them.

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Rich Dad, Saving Daughter

Something Better than Hiding Money

Although sock drawers might be able to protect wealth from physical thieves, inflation is the dastardly villain who will raid it. As a child, I did not know of such economic forces let alone that they had an influence on my humble stash.

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Rich Dad, Creative Daughter

Creative Alternatives

One reason that many people buy things that they could have done without is “functional fixedness.” Teach children to prevent unnecessary purchases by making efforts to help them see other possible uses of owned objects.

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Rich Dad, Discerning Daughter

Evaluating the Cost

My dad taught me the opportunity cost of a Barbie airplane, or what alternative opportunities I would be giving up when I bought it, like buying twelve Barbies.

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Rich Dad, Wise Daughter

The Dangers of Wait a Week

For cheap or limited edition items, desire needs to undergo a trial other than the test of time and the Wait a Week principle should be modified.

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Building A Rich Defense

Karate

Multifamily offices and private banks see an increasing need for self-defense programs that help protect their wealthy clients.

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Full-Nest Syndrome

Full Nest

“With more adult children relying on their parents amid the economic uncertainty – or moving back home – well-laid financial plans could get trampled.”

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Rich Dad’s Money, Rich Daughter’s Money

My Money vs. Your Money

If my parents had been in control of the purse strings, I would not have learned the value of money. To a child, “My Money” is valuable where “Your Money” is worthless.

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Economic Lessons from “Settlers of Catan”

Catan

What makes Catan particularly interesting is that just producing the most resources is not sufficient to win the game. Knowing what mix of resources you need to meet your objectives is critical.

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Radio: Giving Your Children a “Rich” Mindset

Megan on the Radio

David Marotta and Megan Marotta were featured on October 11, 2011 on radio 1070 WINA’s Schilling Show discussing the importance of teaching your children about money and giving them a “rich” mindset.

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Rich Dad, Patient Daughter

Learning to Wait a Week

With money in my pocket and impulse in my veins, I used to cherish our weekly trips to Toys ‘R’ Us. However, it was on the Barbie aisle under my parents’ guidance that I became a money-savvy kid with the millionaire mindset.

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Rich Dad, Working Daughter

Your Children's First Job

When it comes to teaching financial lessons, setting a good parental example is important, but actually giving the child some experience making wise financial decision is essential.

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Wealthy Kids In Trouble

Bill Gates Mugshot

Children of the rich and famous are not immune to the temptations and foolish behavior that sometimes plague the rest of this generation’s youth.

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Financial Planning For Kids With Special Needs

Butterfly Hands

Parents with disabled children must have an estate plan to provide without disqualifying them from receiving public assistance.

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Economic Lessons Learned from Chess

Chess Prodigy

I love strategy games. Many people dismiss games as a waste of time. But at their best they teach principles of cause and effect that we can use as paradigms for real life.

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Rich Dad, My Father

Rich Dad, Rich Daughter

David John Marotta may just be an economic columnist or financial planner to you, but to me he is an amazing father and best friend. I’d like to take this opportunity to show you why he was and is so awesome.

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Chess: David John Marotta vs. Edward Teller (1977) – Game 2

Chess: Edward Teller vs. David John Marotta Game 2

Played at the age of 16 at a social gathering with theoretical physicist Edward Teller on 1977-07-09.

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Chess: Edward Teller v. David John Marotta (1977) – Game 1

Chess: Edward Teller vs. David John Marotta Game 1

Played at the age of 16 at a social gathering with theoretical physicist Edward Teller on 1977-07-09.

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Family Affair

David and George Marotta

Father George Marotta and son David John Marotta were featured in an article in Financial Planning magazine.

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