by Keith Gustafson CFA and Christopher M ONeill PhD CFA CFP ® FRM ® ChFC ®, The margin of safety retirement savers need for peace of mind , Most retirement savers both under-save for retirement and potentially face a serious return drag from sub-optimal market chasing behavior—, Guaranteed Retirement Income (GRI, products can help Employer education automatic enrollment investment defaults and automatic contribution escalation have greatly helped to improve the retirement savings situation in years since their widespread adoption  Mounting empirical evidence however indicates that the serious behavioral problems persist  Our paper examines one of the more serious issues for the retirement savers—namely…

Haley Rafferty is Senior Vice President of Asset Management in Mesirow Institutional Real Estate Direct  Haley has more than 18 years of real estate experience all within multifamily Prior to joining Mesirow Haley worked for The Related Companies a New York based privately held real estate owner and operator During her tenure at Related Haley was a vice president leading operations of the firm’s…

Discussions between parents and children are not easy and get more complex as we advance to different stages in life Regardless of how mature we think we are as the parent or the child some discussions are just “not fun” Preparing and engaging in them creates stress and anxiety however not having them may result in a more devastating outcome, The most difficult family discussions¹, Adulthood Independence and Life Choices Understanding Death Relationship Breakups Family Conflict Finances Not only are the topics difficult but getting advice on how to approach them can be challenging too especially if you are trying to hold on to family secrets Early adulthood conversations such as the “birds and bees” may seem to be the most difficult but later conversations about your money…, Talking to your children about your money, If we want our children to do well with our assets we should explain what we are doing and why Discussions about money should start by explaining your values and showing how money can be used as a resource to maintain each value For example if a family highly values education for themselves and others parents should explain how their estates should be used to provide education for family members…, Other things they should know, Your children should also know where to find key contact information and documents in an emergency Items to cover in your discussion may include Basic personal information such as dates of birth past marriages to who parent’s full name birth places grandparent’s maiden name Critical documents such as marriage license birth certificates social security cards passports insurance policies pension…, Published January 2025, 1 https//healthfullycom/1012696-tackle-difficult-conversations-familyhtml2 https//wwwnefeorg/press-room/story-ideas/2013/financial-disconnect-among-seniorsaspx 2 https//wwwfa-magcom/news/millennials-want-family-help-in-retirement-33081html

Discussions between parents and children are not easy and get more complex as we advance to different stages in life Regardless of how mature we think we are as the parent or the child some discussions are just “not fun” Preparing and engaging in them creates stress and anxiety however not having them may result in a more devastating outcome, The most difficult family discussions, 1, Adulthood independence and life choices Understanding death Relationship breakups Family conflict Finances Not only are the topics difficult but getting advice on how to approach them can be challenging too especially if you are trying to hold on to family secrets Early adulthood conversations such as the “birds and bees” may seem to be the most difficult but later conversations about your money…, shouldn’t we talk to them about our estates so that good decisions are made to protect our legacies, According to a 2023 survey 63% of Americans do not have conversations with their family about money   2 As parents we are often hesitant to let our children know our net worth because we may be afraid it will cause them to be less motivated Children may also be hesitant to have the conversation because they do not want to consider their parents declining health or mortality Such conversations may…, Talking to your children about your money, If we want our children to do well with our assets we should explain what we are doing and why Discussions about money   should start by explaining your values and showing how money can be used as a resource to maintain each value For example   if a family highly values education for themselves and others parents should explain how their estates should be used to provide education for family…, Other things your children should know, Your children or other beneficiaries  should also know where to find key contact information and documents in an emergency Items to cover in your discussions may include  Basic personal information such as dates of birth past marriages  parents full names birth places grandparents maiden name Critical documents such as marriage license birth certificates social security cards passports insurance…

Every family should be able to have healthy discussions but the reality is that for many this may prove challenging Busy schedules geographic distance changing values and complex family structures are among several factors that might complicate these much needed conversations Although many of us know we should not avoid certain family conversations postponing them often seems like the easiest…, The past couple years have had a sobering effect on many of us It has brought us to the realization that regardless of our age or stage in life we may not always have the luxury of as much time as we once thought  Families often postpone discussions about their assets and wishes until someone is elderly and perceived to be in their last stage of life However such conversations are necessary…, The “talk” is about your legacy, How do you start the talk  Initiating conversations about money and life changes can be difficult because they require asking personal and sensitive questions that can be viewed as inappropriate They also require providing very honest answers to those people who will have to execute plans on behalf of a loved one  Eighty-five percent of Americans age 55 and older believe it is the parent’s…, Key information family members should know, Someone should know where to find key contact information and documents in an emergency Items to cover in your discussion may include Critical documents such as a marriage license birth certificates social security cards passports insurance policies and pension statements Basic personal information such as dates of birth past marriages parents full name birth places and grandparents maiden name…, not,  having these discussions well in advance of need has the potential to create more stress and anxiety in the long run when some event happens in our lives to make the conversation a necessity Your wealth advisor can help facilitate the conversation and help you decide how best to begin the conversation Mesirows document locator can help you keep track of the location of your most important…, Published February 2025, 1 https//wwwcaringcom/caregivers/estate-planning/wills-survey 2 https//wwwbusinesswirecom/news/home/20221011005297/en/Only-One-Third-of-Americans-Have-an-Estate-Plan-DA-Davidson-Survey-Find 3 https//wwwaarporg/content/dam/aarp/research/surveys_statistics/ltc/2017/family-caregiving-rolesdoi1026419%252Fres00175001pdf 4 https//imagesembankofamericacom/HOST-01-19-2701/ML_Legacy_Studypdf