Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Henderson | Lakes | McCracken | Webster

Dave Says – July 28, 2013

dave R2 300KENTUCKY (7/28/13) – This week Dave discusses ' Giving from grandfather’s wealth', ' Pension solvency', and 'U.S. currency deflation?'

Dear Dave,

My grandfather died about a month ago, and I recently learned that in his will he distributed his money unevenly between his children and grandchildren. I received significantly more than other members of the family, but I make $140,000 a year. I’d like to give them some of my inheritance to even things out. How would you approach this? - Kate

Dear Kate,

You’re obviously unselfish and have a really good heart. But honestly, it was your grandfather’s decision and his money to do with as he pleased. It wouldn’t be wrong or greedy to simply keep what you have without worrying about it a second longer.

If some of your relatives are having financial troubles and you feel that making a gift of a portion of your inheritance will help, you can do that. With your income, it’s probably not going to change your life in a big way. My advice would be to look at your relatives and their situations objectively and see if something like this would really be a blessing. Then, if your heart and your head still tell you it’s a good thing, do it. - Dave

Dear Dave,

Considering the condition of the economy, how secure should I feel about the solvency of my pension? - Crystal

Dear Crystal,

In many ways, this would depend on your particular pension. Some pension funds are very well-run, very solvent and are in great shape. Others are poorly managed and not the type of programs in which you’d want to invest any of your money.

The biggest problem with a pension is that it’s the property of the organization. If it’s a union pension, it’s not yours—it’s theirs. All they do is pay you out of the fund. So if they go broke, you lose everything you had in there. If it’s a business that has the pension, that makes them the owner—not you.

That’s the beauty of the 401(k). You’re the actual owner. If the company you work for goes broke or the union does a poor job of managing things, it doesn’t harm your investment.

Don’t misunderstand what I’m saying. There are good pensions and bad pensions, just like there are great managers and lousy managers. Just make sure you check into the solvency of the program before you put your money in there! - Dave

Dear Dave,

What do you think about predictions of a major deflation of U.S. currency? - Steven

Dear Steven,

I think woven into your question is another question: What do I think about the predictions of our economy completely collapsing? The truth is I don’t believe for one second that our economy is going to completely collapse. Do we have some serious problems that should be addressed? Yes. Do we have politicians who are stupid and who don’t want to address these problems? Absolutely. But does that mean the world is coming to an end? Of course not!

It does mean, however, that you and I need to demand that the people in Washington stop playing games and do their jobs. This ridiculous spending spree we’ve been on for years has to stop. Government spending on all levels—national, state and local—is ridiculously out of control.

I’ve heard end-of-the-world predictions most of my life. But the truth is, we’re not going to see anything of that magnitude until Jesus comes back. No, I’m not going to predict or believe that the U.S. currency is going to collapse. Don’t spend all of your time and energy worrying about conspiracy theories and doomsday scenarios. Spend it living life! - Dave

*Dave Ramsey is America’s trusted voice on money and business. He’s authored four New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover and EntreLeadership. The Dave Ramsey Show is heard by more than 6 million listeners each week on more than 500 radio stations. Follow Dave on Twitter at @DaveRamsey and on the web at www.daveramsey.com.

 

Disclaimer: The content supplied by columnists and letters to the Editor on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such content, statement, or opinions therein. SurfKY News does not necessarily adhere to or endorse content provided by outside non-staff sources.

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

Latest Video

3/13 - 16

Stock Report

1 DOW 17,279.74
+13.75 (0.08%)    
2 S&P 2,010.40
-0.96 (-0.05%)    
3 NASDAQ 4,579.79
-13.64 (-0.30%)    
3/13 - 16
3/13 - 16

In Other News...

Fall at Land Between The Lakes

KENTUCKY (9/19/14) — The following happenings and events are scheduled for this fall at Land Between The Lakes: Hike… Read More

Nearly Half of $1 Million Worth of Marijuana, 5 Lbs. Hashish Seized

KUTTAWA, Ky. (9/19/14) ― A search warrant executed at a Kuttawa residence Friday, Sept. 12 produced 63 pounds of… Read More
3/13 - 16

Most Read This Week (Site-Wide)

September 15, 2014 5827

Man Accused of Stealing Rural King…

in Top Stories by MCSO PIO Alex Piper
September 16, 2014 4453

Postal Worker Arrested for Terroristic…

in Top Stories by GPD PIO Wes Miller
September 19, 2014 3407

Madisonville Man Among Three Arrested for…

in Top Stories by Muhlenberg Sheriff Curtis McGehee
September 17, 2014 3277

Two Arrested for Meth After Traffic Stop

in Top Stories by Alex Piper
September 17, 2014 3177

Wanted Man Leads Troopers on Chase…

in Top Stories by Trooper Stu Recke

Most Read Stories from Hopkins County

September 17, 2014 3177

Wanted Man Leads Troopers on Chase…

in Top Stories by Trooper Stu Recke
September 19, 2014 2111

Five Injured in Two-Vehicle Collision at…

in Top Stories by MPD Officer Russell Nichols
September 17, 2014 1990

Three Injured in Two-Vehicle Accident

in Top Stories by Kyle Pharris
September 18, 2014 1744

Manitou Man Charged with DUI

in Top Stories by Madisonville Police Department
September 18, 2014 1616

Vehicle Strikes CSX Train Cars at Crossing

in Top Stories by Trooper Stu Recke

Most Read Stories from Owensboro

September 19, 2014 539

Police Searching for Hit-And-Run Driver

in Top Stories by Jennifer Smith, DCSO
September 18, 2014 539

Owensboro's Nathan Morris Has Worldwide…

in Top Stories by Paul McRee, SurfKY News
September 19, 2014 460

STREET CLOSINGS FOR MONDAY, SEPTEMBER 22

in Top Stories by Abby Shelton
September 18, 2014 384

9-1-1 Phone Lines

in Top Stories by Michael Hathaway
September 18, 2014 347

Bearcats Return to Owensboro for…

in Top Stories by Kayla Cruse

Most Read Stories from Muhlenberg County

September 15, 2014 5827

Man Accused of Stealing Rural King…

in Top Stories by MCSO PIO Alex Piper
September 16, 2014 4453

Postal Worker Arrested for Terroristic…

in Top Stories by GPD PIO Wes Miller
September 17, 2014 3277

Two Arrested for Meth After Traffic Stop

in Top Stories by Alex Piper
September 17, 2014 1330

Muhlenberg Job Corps Support is 'Written…

in Top Stories by Karen Robinson
September 16, 2014 1291

Former 1977 Graduates Speaks at…

in Top Stories by Karen Robinson

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 03social 04social 22social 21social 06