Inter-generation Conflict

Intergenerational Conflict – Should seniors who own property pay school taxes?

Intergenerational Conflict - Should seniors who own property pay school taxes?

A government policy that places the cost burden onto one generation by removing the responsibility from another generation, regardless of their ability to pay, is wrong.  Without a doubt, there is a big challenge facing all levels of government during this time of population aging.  Housing, transportation, health services and so on are challenged to address the needs of everyone […]

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Gerontologiphobia and other things in ‘Never Say Die’

Gerontologiphobia and other things in 'Never Say Die'

A new word to try out on your friends and colleagues – gerontologiphobia (1).  It refers to the fear of getting older, or a dislike for becoming older.  Our society does not make it easy to age.  Older people talk about becoming invisible as they age.  They are overlooked, undervalued and even discriminated against.  It’s ironic considering the rapid aging […]

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Teaching our children about financial matters – Parents must lead by example!

Teaching our children about financial matters - Parents must lead by example!

This post is about dependent children.  Another post on adult children and financial literacy is here:  http://agenomics.ca/?p=447 66% of respondents to a 2011 poll by the BC Securities Commission indicated that their parents/family taught them about financial matters.  http://www.investright.org/uploadedFiles/resources/studies_about_investors/National_Youth_Survey_Full_Report-25-10-11.pdf  This number isn’t surprising.  Parents should be the teachers of life skills, including financial skills. A more recent initiative – Talk […]

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Gifting – Question #5 – Ownership of Assets

Gifting - Question #5 - Ownership of Assets

Some people feel that once a person is older they no longer require their assets.  This mislead viewpoint thinks it is fine to being to use the older person’s assets because they will pass away before the assets are required.  Often this perspective is held by individuals who will inherit the remaining assets.  They feel that their current need for […]

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Gifting – Question #4 – Manipulation

Gifting - Question #4 - Manipulation

The issue of elder abuse is increasing in awareness.  Yet I continue to see family dynamics that leave me concerned that manipulation is taking place.  Money can be used as bargaining power in relationships.  This may sound negative but it isn’t necessarily so.  Bargaining happens all the time – you help me with something and I feel drawn to return […]

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Gifting – Question #3 – Diversification

Gifting - Question #3 - Diversification

We know about diversifying our portfolios – although we don’t always do it.  If our financial eggs are all in one basket we take a huge risk that failure of an asset class could substantially decrease our net worth.   Another way we diversify is in our personal lives.  We have a variety of friends and we rely on different […]

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Gifting – Question #2 – Grandchildren & Step Grandchildren

Gifting - Question #2 - Grandchildren & Step Grandchildren

There is quite a range of opinions on whether gifting should happen for the younger generation (the grandchildren) or just for the children.  It is entirely your personal choice – after all – it’s your money.  However, when gifting to the grandchildren it can be tricky to keep things fair.  One of the issues that arise occurs due to the […]

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Gifting – Question #1 – Who are you helping?

Gifting - Question #1 - Who are you helping?

This blog is the second in the series on family gifting and intergenerational transfers.  This is the first of five questions that professionals need to consider asking their clients when changes to financial plans, wills or other long term planning activities are being made in order to provide a ‘living’ gift.  This needs to be approached in a way that is […]

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5-Key Questions on Family Gifting & Intergenerational Transfers

5-Key Questions on Family Gifting & Intergenerational Transfers

Gifting sounds like a nice thing but it is filled with anxiety, pressure and unintended outcomes.  I cannot count the number of times that an individual has approached me about family gifting.   Increasingly, parents are being asked by their adult children for gifts.  Some of these requests are substantial in size with the potential to place the parents in financial jeopardy.  […]

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