As part of our recent estate planning, our assets will be split 50/50 between our kids. That seems fair, but how equally have we provided support, or will we provide support, during our lifetimes? “…if that scorecard of lifetime gifts isn’t roughly equal at the time of the parents’ death, then there’s a problem. Not a legal problem — a family problem.” So says Jeffrey Condon, co-author of Beyond the [...]
I recently finished a new personal finance book, Beyond The Basics, by Sammy Azzouz, a financial advisor out of Massachusetts, and one of his investment topics “beyond the basics” is real estate. Azzouz’ premise is that for most investors their basics will be three things: career, because that provides your earning potential;savings rate to ensure there are earnings left over to invest;building a risk-managed paper portfolio that you can stick [...]
Costa Rica FIRE made a guest appearance on the Real Wealth podcast, which focuses on real estate investing. We were excited to be invited onto the show because we look to Real Wealth as a source for real estate news and ideas and even traveled to their income property showcase in Cleveland last summer. (It was a great example of one of our bleisure trips, where we mix business and [...]
A few months ago, Scott and I updated our estate plans to switch from a will to revocable living trust structure, as well as update key documents to reflect that both of our kids are legal adults (i.e., age 18 and over) and that our primary residence is now Florida. We are almost done with all the moving parts, but it will still likely be a couple of months before [...]
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