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03/29/2016

Teaching Children the Value of Entrepreneurship, Part 1

Posted by: Irvin G. Schorsch III

Skeptics might say we’re pushing kids into adulthood way too early, but it’s hard to argue with the life skills they can acquire through early entrepreneurship...

01/14/2016

It’s Never Too Early to Prepare End of Life Documents: 4 Must-Have Estate Planning Documents That Need to Be Updated Regularly

Posted by: Irvin G. Schorsch III

Now is the time of year when we get together for traditional family gatherings. On a less joyous, but equally important note, it’s also an ideal time to have important conversations with parents, siblings and other close relatives about their estate plans. Sure, you have to pick your moments carefully, and not everyone’s going to be in agreement. But, this recent Kiplingers Personal Finance article had some great tips (albeit pretty basic) about getting end-of-life documents in order. If nothing else, you want to make sure you have four key documents accurate and up to date:

08/07/2015

Surviving the Age of Boomerang Children

Posted by: Irvin G. Schorsch III

With the economic troubles and the skyrocketing cost of college loans, many parents are finding themselves stuck in the predicament of adult children returning to live at home. This trend has become what’s known as “boomerang children” – ones who leave home to attend college or live on their own, but later are forced to return to the comforts of their parents’ home. Having increased so much in recent years, there was even a popular movie starring Matthew McConaughey who returned to home at the age of 35. It is reported that over a third of adult children under the age of 34 are living with their parents.

08/04/2015

Repaying College Debt and Growing Wealth

Posted by: Irvin G. Schorsch III

With the outlook for college graduates improving each year, graduates are able to land a first-time job and pay off college debt much faster than those in recent years. The National Association of College and Employers projects that 9.6 percent more graduates will be hired from the class of 2015 than were hired from the class of 2014. This hiring increase continues to rise year after year, since late 2002 when the group began to survey employers and graduates.

07/27/2015

A Few Questions for Mom and Dad

Posted by: Irvin G. Schorsch III

Unfortunately there comes a time in our lives when we have to discuss our parents mortality. This is no easy task but should be done sooner rather than later. The best approach to the conversation is to assure them that you want to protect their assets and make sure that each specific wish they have is honored.

07/09/2015

Financial Rx For Your Children

Posted by: Irvin G. Schorsch III

The value of a dollar may be the most important lesson we can teach our children. According to the Journal of Consumer Affairs, nearly 3 out of 4 Americans between the ages of...

05/14/2015

The Parent’s National Bank

Posted by: Irvin G. Schorsch III

There are hundreds of books about the “how-to’s” of expecting a child. Step by step guides are available for before you’re pregnant, while you’re pregnant, and when your child turns 2 years old. However, the one that is missing from the bookshelf is what to do about financial support once your children are all grown up

12/23/2011

Choosing a Retirement Community Is No Easy Job

Posted by: Irvin G. Schorsch III

Retirement communities have become the answer for an increasing number of seniors looking to get out from under the burdens of home ownership, focus more on hobbies and health and increase their social and recreational opportunities. But with so many types of communities and ranges of services available, navigating the maze of living options can be overwhelming — and fraught with opportunity to overpay. If you are considering retirement living for yourself or your aging parents, here are six points to keep in mind