Smart Stepfamily Guide to Financial Planning , livre ebook

Baker Publishing Group - L. Deal Ron

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120 pages

English

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Description

Money issues are a frequent source of conflict in all marriages. But blended families are a monetary minefield. Debts, bills, and child support payments from previous relationships often influence the finances of a blended family. And planning for college expenses, retirement, and inheritance gets even more complicated in remarriage. These issues can explode couple unity and blow up developing family harmony.However, proper blended family money management can make money an asset to your relationship, not a liability. The authors use over 50 years of combined financial planning and blended family educational experience to help you envision your combined financial future and plan for how you'll get there. You'll discover practical ways to merge your current financial realities and protect your marriage while doing so.Get real-world financial advice specific to unique blended family legal and relational matters so you can provide for your family both now and in the future.

Sujets

Personal finance

Informations

Publié par	Baker Publishing Group
Date de parution	17 septembre 2019
Nombre de lectures	0
EAN13	9781493421855
Langue	English

Informations légales : prix de location à la page 0,0461€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

Cover
Endorsements
“I have been a financial planner for over forty years and answered thousands of questions. Undoubtedly one of the most complicated financial situations is that of the stepfamily. Ron, Greg, and David have combined their individual experiences to write a very helpful and practical book. I recommend it highly.”
—Ron Blue, founder of Ronald Blue Trust and the Ron Blue Institute of Financial Planning, author of more than twenty books, including Master Your Money
“This is a book every blended family needs. It provides practical help in the often difficult area of money management. I highly recommend it.”
—Gary D. Chapman, PhD, author of The 5 Love Languages
“When developing material on money management and marriage relationships we turned to Ron Deal for expertise on blended family finances. Now you can turn to him. Together with Greg Pettys and David Edwards, Ron has created The Smart Stepfamily Guide to Financial Planning . This book integrates practical wisdom of stepfamily relationship dynamics with proven principles of money management and estate planning specifically for stepfamilies.”
—Howard Dayton, founder of Compass and MoneyWise Radio , cofounder of Crown Financial Ministries
“This exceptionally well-written book is invaluable for many types of ‘blended’ families. It is comprehensive in that it covers a broad swath of real-life family fiscal matters. The book’s authors handily guide us from scenarios where ‘everyone has their hands in each other’s pockets’ to one of structure, clarity, and harmony.”
—Greg Dewald, CEO, Bright!Tax, Inc.
“Unspoken money issues lurk in the background of most stepfamily unease and conflict. I wish there were enough research-based trained professionals to help you with these problems, but there are not. For the best and most comprehensive resource available today, use The Smart Stepfamily Guide to Financial Planning to identify, discuss, and resolve these difficult topics—a gift beyond measure for your entire family.”
—Margorie Engel, MBA (finance), PhD (law and social policy); former president, Stepfamily Association of America; founding member, National Stepfamily Resource Center (NSRC) and Stepfamily Expert Council
“As with all of Ron Deal’s work with stepfamilies, this book gives wonderful, wise, practical advice. Every stepfamily needs to know how to successfully navigate the unique challenges they face with finances, and this book is an excellent guide to get you there.”
—Shaunti Feldhahn, social researcher and bestselling author of For Women Only and Men, Women, & Money
“The coauthors do a wonderful job of covering all the important financial decisions one will encounter throughout one’s life. This is a must-read for someone searching for a pragmatic financial direction in their life.”
—Bernard Shaughnessy, CFP®
“Finances can be a touchy and intimidating subject in any setting, and blended families face unique challenges in this arena. Thankfully, there’s a book that will help answer their questions and give them peace of mind—and this is it! Here is a practical, insightful, and relevant resource for stepfamilies.”
—Greg Smalley, PsyD, vice president, Marriage and Family Formation, Focus on the Family
Half Title Page
Books in the Smart Stepfamily Series
From Bethany House Publishers
101 Tips for the Smart Stepmom (Laura Petherbridge)
Daily Encouragement for the Smart Stepfamily (Ron L. Deal with Dianne Neal Matthews)
Dating and the Single Parent (Ron L. Deal)
The Smart Stepdad (Ron L. Deal)
The Smart Stepfamily (Ron L. Deal )
The Smart Stepfamily DVD (Ron L. Deal)
The Smart Stepfamily Guide to Financial Planning (Ron L. Deal, Greg S. Pettys, and David O. Edwards)
The Smart Stepfamily Participant’s Guide (Ron L. Deal)
The Smart Stepfamily Marriage (Ron L. Deal and David H. Olson)
The Smart Stepmom (Ron L. Deal and Laura Petherbridge)
In Their Shoes (Lauren Reitsema)
F rom F amily L ife P ublishing
Life in a Blender (booklet for kids) (Ron L. Deal)
The Smart Stepfamily Marriage Small-Group Study Guide (Ron L. Deal)
Title Page
Copyright Page
© 2019 by Ron L. Deal, Aspire and Associates of America, Inc., and Edwards Group LLC
Published by Bethany House Publishers
11400 Hampshire Avenue South
Bloomington, Minnesota 55438
www.bethanyhouse.com
Bethany House Publishers is a division of
Baker Publishing Group, Grand Rapids, Michigan
www.bakerpublishinggroup.com
Ebook edition created 2019
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means—for example, electronic, photocopy, recording—without the prior written permission of the publisher. The only exception is brief quotations in printed reviews.
Library of Congress Cataloging-in-Publication Data is on file at the Library of Congress, Washington, DC.
ISBN 978-1-4934-2185-5
All names and recognizable details have been changed to protect the privacy of those who have shared their stories for this book.
This publication is designed to provide general information in regard to the subject matter covered. It is not to be considered tax, legal, or other professional advice. The views and opinions expressed are those of the authors. This publication discusses many strategies and techniques that may not be appropriate for every situation. You should consult with your personal advisors, to include tax and legal, before making any decisions based on the content of this book.
Cover design by Eric Walljasper
Ron L. Deal is represented by MacGregor Literary, Inc.
Dedication
Ron To Dr. Margorie Engel, for being the first to open my eyes to the challenges of stepfamily dynamics and money matters and for leading the way to practical solutions
Greg To my wonderful wife, Johnita R. Pettys, God’s amazing covenant gift I will forever treasure
David To Michelle, Bailey, and Cole, and to my parents, Delbert and Pat
Contents
Cover 1
Endorsements 2
Half Title Page 3
Books in the Smart Stepfamily Series 4
Title Page 5
Copyright Page 6
Dedication 7
Acknowledgments 11
Introduction 13
Part One: Laying the Groundwork 19
1. Taking Stock 21
2. Creating a Togetherness Agreement 31
Part Two: Merging Day-to-Day Financial Responsibilities and Relationships 47
3. Merging Yours, Mine, and Ours 49
4. Love and Boundaries 67
5. Money and Former Spouses 79
6. Computers, Cars, and Cash 95
7. Parenting Adult Children and Caring for Aging Parents 107
Part Three: Planning for the Future 121
8. Planning Your Child’s Education 123
9. Planning Your Retirement 147
10. Planning for Healthcare Needs 167
11. Planning Your Estate 183
12. Stay Calm and Stay the Course 199
Appendix 1: Pension Options Case Study 203
Appendix 2: Create an “Own and Owe” List 205
Appendix 3: QTIP Trust Case Study 209
Notes 211
About the Authors 217
Back Ads 219
Back Cover 222
Acknowledgments
Ron:
This book is the result of two influential conversations for which I am very grateful. The first occurred twenty years ago with Dr. Margorie Engel, former president and CEO of the Stepfamily Association of America. Her early writings on money management innovated solutions for stepfamilies, but it was a personal conversation with her that awakened my interest in this subject and started the process that resulted in this book. Just a few years later, I had dinner with Greg Pettys, one coauthor of this book. As a financial planner with a blended family of his own, he was very interested in this subject and shared many ideas that provide the foundation of this book. We both walked away from that conversation saying, “We should write a book someday.” We did.
Appreciations to my agent, Chip MacGregor, and editor Beth Jusino (who did the initial painstaking work of helping three voices become one). And thanks to editor Ellen Chalifoux for once again making my books read much better than they were written.
And finally, a special thank-you to Bethany House for investing in stepfamilies around the world by collaborating with me to create the S M A R T S T E P F A M I L Y S ERIES . Your dedication to publishing practical resources to help an underserved people group is admirable. I am honored once again to partner with you.
David:
I remember the day Greg came to my law office asking if I would help him with some content for a breakout session he was doing at one of Ron’s stepfamily events. That was the beginning of my journey with Greg and Ron to create a resource to help stepfamilies make wise financial choices.
Thank you to all the blended family clients who have honored me by trusting me to help them plan effectively. My contribution to this book is the result of what I have learned from working with these wonderful families over the years.
Thank you to Ron and Greg. I am honored and humbled to be a part of this project, and I pray that it can be used by many families to make wise decisions that honor God.
Thank you to editor Beth Jusino, who helped immensely in the writing of the healthcare and estate planning chapters.
Greg:
Special thanks to my coauthor friends, Ron L. Deal and David O. Edwards. Ron, your writing expertise, wisdom, and true servant leadership were the glue that kept this project together. David, the combination of your integrity, compassion, and professional excellence amazes me. Both our award-winning developmental editor Beth Jusino and the indispensable Ellen Chalifoux at Bethany House are so appreciated. Sincere gratitude to three mentors who imparted much wisdom to me over these decades of my financial services career: Michael J. Haglin, Bernie Shaughnessy, and Brian Roberts. Heartfelt hugs to each of my six children: Daniel, Kara, James, Kyle, Alicia, and Blake, whose powerful and diverse gifts have inspired me to write! To God be all glory.
Introduction
I magine a conversation between two people who have been dating for over a year. They are both single parents. After a nice, romantic dinne