October 23, 2014

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.

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.

Read More...

Overspending Retirement Income

Sailboat to Money Island

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

Read More...

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.

Read More...

4 Reasons You Are Afraid of Investing

AfraidMarkets_t

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

Read More...

Help Recent Graduates Find a Fulfilling Career

AreaOfGenius_t

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

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.”

Read More...

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?

Read More...

Sesamenomics: Bert and Ernie weigh in on politics

Bert and Ernie

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

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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?

Read More...

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.

Read More...

Megan Marotta: Feeding Others.

Megan Marotta

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

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

Building A Rich Defense

Karate

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

Read More...

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.”

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

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.

Read More...

Family Affair

David and George Marotta

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

Read More...

Rich Dad, Rich Daughter

Rich Dad Rich Daughter

“Small changes over a long period of time make all the difference.” Learn how to teach financial wisdom to your children with Megan Marotta’s series, “Rich Dad, Rich Daughter.”

Read More...

Radio: How to Win the CNBC Million-Dollar Portfolio Challenge

Marotta Smiling On Radio

David John Marotta was featured on radio 1070 WINA’s Rob Schilling show on September 13, 2011. The topic was the CNBC million-dollar portfolio challenge, and how it does not emulate a good real-life investing strategy.

Read More...

How to Win the CNBC Million-Dollar Portfolio Challenge

Stack of Money

CNBC’s million-dollar portfolio challenge begins next week. Participants can trade a fictional account of stocks and currency. Prizes are given over each of the 10 weeks, and then a grand prize winner is awarded a million.

Read More...

Minimum Wage Hurts Starter Jobs

Minimum Wage

Some first-time workers are not worth minimum wage. But without being hired, they can’t learn job-related skills.

Read More...

Multiple Accounts: An Essential Management Tool

Colorful Drinking Glasses

To build real wealth, you need specific wealth management tools.Most families have less than half of the accounts they really need, and young newlyweds often only have a checking account.

Read More...

Video: How Your Children Can Win the Stock Market Game

Marotta Youtube

Good things do come from France. Frenchman Antoine Deneriaz captured Olympic gold in the men’s downhill skiing event beating out favorites Austria’s Michael Walchhofer and America’s Bode Miller. His win meant flying madly off jumps and being determined to finish first or break every bone in his body. Your investments shouldn’t be like that.

Read More...

Video: Personal Debt – The Borrower Becomes The Lender’s Slave

Marotta Youtube

They say that as long as Americans keep spending, the economy will be strong and unemployment will remain low. “Spend now and pay later” is poor personal policy.

Read More...

Video: University Students and Credit Cards

Marotta Youtube

Every University student knows they should have a credit card. You have to have a second form of ID on many financial transactions. You have to have one to establish good credit. And, the more you use them, the more you will accrue bonus points toward cash, mileage credits and various “free gifts”. P.T. Barnum said, “There’s a sucker born every minute.” But it doesn’t have to be you.

Read More...

Video: Family Budgeting

Marotta Youtube

Every year problems of debt and overspending frustrate millions of families. The problem has little to do with income, a lot to do with spending. Spending less than you earn is the essential foundation that creates the capital for investing and wealth building.

Read More...