Social Security may be about to experience one of its largest increases for cost of living since the 1980s, due to the recent increases in inflation. Some estimates show an increase as high as 6%, and the actual numbers will be released later in October. Although Social Security is for all workers, it is complicated.…
Author: gstc
Marital Trusts
Dear Garden State Trust: Now that the federal estate tax exemption is over $11 million, do I still need a marital deduction trust in my will for my wife? —Concerned Husband Dear Concerned: Most likely, yes. If your current will includes a trust for a surviving spouse, you probably will want to keep it. A…
Incentive Trusts
A recently proposed bill in California is geared toward helping people stay sober by providing financial incentives to so. Although it might seem as though financial incentives would not be substantial enough to change behavior in terms of healthcare, we recently saw that incentives increased the likelihood of people getting a vaccine when they were…
Tax Reform
Dear Garden State Trust: What are the chances that we will see tax reform soon? —Rate Worrier Dear Rate: Based upon past experience, I would say that the odds are somewhat against tax reform this year. Usually tax reform legislation has had a lengthy and public process as it moves from broad goals to specific,…
Having the "Money Talk"
For many of us, the first time we talk about money with our kids (aka “ the money talk”) is when they are younger and we explain the benefits of saving some of their allowance. As they get older, we talk about the danger of credit card debt and understanding the value of delayed gratification…
Bond Prices
Dear Garden State Trust: I’ve read that when interest rates go up, bond prices go down. Why should this be so? It seems a bit irrational to me. —Cynical Investor Dear Cynical: It’s not irrational. It’s not emotional at all; it’s just math. Here’s a simplified example. You have a bond with a face value…
Inflation Worries Keeping You Awake?
According to a recent Harvard CAPS/Harris poll, reported at thehill.com, 85% of respondents are concerned about inflation, and 45% are very concerned. Beyond polling data, we can tell from looking at Google trend graphs that searches for information on inflation more than doubled in May, and that keyword search continues to be above average. Google’s…