By Amanda Morrall
1) Get your will together
Yes, I know I've written about Wills Month already but I'm giving it one last mention before September's out. In my discussions with folks I know on the topic more than a few (with assets and children) admitted they still didn't have one. The video in today's column goes over some of the basics. See also the Public Trust website for a comprehensive list of frequently asked questions.
2) Silver separations
I'd heard of the silver tsunami (a reference to the demographic bulge of Baby Boomers approaching retirement) but silver separations was a new one to me. The term describes the bloom in late age divorces that are becoming increasingly common. The Globe and Mail, in the following article, looks at the sad financial aftermath for the 50-something set tearing through the divorce courts. A similar trend is evident in New Zealand according to Statistics New Zealand. In 2010, the median age of a divorced male was 45.1 and for a female 42.5. Stats NZ also reports that just over one-third of Kiwis who married in 1985 divorced before making it to their silver anniversary (at 25 years).
3) Mortgage done and dusted
Yahoo finance profiles three couples who are mortgage free and how they did it. Oh what a joyous occasion.
4) Money and trust
How can you measure the value of money when the goal posts are constantly shifting? Broker Marcus Padley, writing for the Age, argues that you can't. Not really anyway. He says the ultimate metric boils down to one thing: trust. If you want to increase the value of your money, ensure the trust underlying the relationship wherein an exchange takes place is solid.
5) Hate your job?
Do what you love and you'll never work a day in your life. That's the theory anyway. Unfortunately, there is a paucity of employees for whom this mantra holds true. Monevator.com reflects on the disenchantment with the modern work world and the era of cubicle slaves and sees reason for perspective. We're not working in smoke-filled Dickensian factories after all.
The kids interviewed in this Flight of the Concords video offer some cute and clever insights on money - and relationships.
To read other Take Fives by Amanda Morrall click here. You can also follow Amanda on Twitter @amandamorrall