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According to the National Retail Federation, Americans will spend an estimated $19.6 billion on Valentine’s Day this year. With a little more than half of the American population participating in Valentine’s Day giving, that breaks down to about $143 per person.
While chocolates, candied hearts or a night out on the town can be great ways to express your love, I would argue that financial planning may be the ultimate act that says, “I love you and I care about you”.
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As we approach the end of the year, you may be thinking of making a large financial gift to your children, grandchildren or others in your life.
Gifting strategies and the tax laws that create them can be confusing. Even as I write this, Congress is considering major legislation that could impact generational gifting for millions of Americans in the future.
Don’t let these 5 myths about gifting assets stop your holiday giving this year.
November 22nd, 1992.
That was my first official day as a financial planner. For several months, I had been working hard to get licensed, establish a network of contacts, and get set up to hit the ground running, but Wednesday, November 22, 1992 was my official first day on the job.
My manager generously allowed me to celebrate by taking the next day off. The fact that the next day was Thanksgiving and he wanted to spend it with his family, I am sure was just a coincidence.
Back then, the only days we had off were Sundays and major Federal holidays. The Friday after Thanksgiving was not one of them. So, on Friday the 24th I was back at it – or maybe I should say “at it” since I hadn’t really even gotten started yet.
Since 2009, GiveMN.org has paired charitable donors with qualified charitable organizations in a uniquely Minnesota movement known as Give To The Max Day.
Last year alone, donors anted up more than $20 million over a 24-hour period to support their favorite causes. To date, Give To The Max Day has raised over $125 million dollars for Minnesota-based charitable organizations.
Below are 3 reasons why you should give to the max on November 16th.
World War I officially ended at “the eleventh hour, of the eleventh day, of the eleventh month” in 1918. A year later, Woodrow Wilson proclaimed November 11th to be “Armistice Day”.
Congress declared November 11th to be “Veterans Day” in 1954. Since then, we’ve taken this day to recognize and honor all military veterans, both living and dead, who have honorably served in the U.S. Armed Forces.
If you are a military veteran, thank you for your service.