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.

LIKE SurfKY on Facebook - Click here to LIKE us now.

© Copyright 2015 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 on social media.

3/13 - 16

In Other News...

Hopkinsville Home School Student Wins SAR Poster Contest

CHRISTIAN COUNTY, Ky. (3/27/15) — The Col. Stephen Trigg Chapter of the Sons of the Revolution in Cadiz recently… Read More

Utility Tax Petition Signatures Put Choice before Voters; Board to Wait for November Election

GREENVILLE, Ky. (3/27/15) — The Muhlenberg County Clerk's office has completed the certification of Muhlenberg County… Read More
3/13 - 16

Most Read This Week

March 27, 2015 5262

Three Arrested during Execution of Search…

by Madisonville Police Department/Hopkins County Detention Center
March 25, 2015 5187

Fazoli's, Roses Coming to Madisonville

by Amber Averitt, SurfKY News
March 24, 2015 5009

One Dies, Another Injured in Mortons Gap Traffic…

by Deputy Heath Owens
March 25, 2015 4938

Grand Jury Finds No Criminal Wrongdoing in Bean…

by Doreen Dennis, SurfKY News
March 24, 2015 4145

UPDATE: One Injured in Hopkinsville Road Accident

by Doreen Dennis, SurfKY News
March 25, 2015 3890

Madisonville Man's Living Room Leap Lands Him in…

by Madisonville Police Department / Hopkins County Detention Center

Most Read This Month

March 09, 2015 13198

Multi-Agency Drug Bust Results in $1 Million Meth…

by KSP DESI
March 02, 2015 11476

Madisonville Teen Faces Numerous Drug Charges

by Madisonville Police Department/Hopkins County Detention Center

Stories Trending Today

March 27, 2015 5262

Three Arrested during Execution of Search…

by Madisonville Police Department/Hopkins County Detention Center
March 27, 2015 2239

MPD Searching for Man Accused of Nearly Running…

by Madisonville Police Department
March 27, 2015 1995

Family Loses Possessions, Dog in Sugg Street Fire

by Doreen Dennis, SurfKY News
March 27, 2015 1405

Hopkins Grand Jury Indictments Handed Down

by Karen McKnight
March 28, 2015 1322

Young Child Dies in Princeton Fire

by Chris Rogers, KSP
March 27, 2015 1273

Rehabber Explains Her Mission; Efforts Filmed by…

by Ron Sanders
March 27, 2015 1120

Hopkins County Health Department Food Scores Thru…

by Barry Franklin
March 27, 2015 1052

Madisonville Police Arrest Reports - March 27,…

by Madisonville Police Department
March 27, 2015 904

Work Continues on Madisonville's Downtown Plaza

by Rita Dukes Smith, SurfKY News Director
March 27, 2015 897

Utility Tax Petition Signatures Put Choice before…

by Charles W. Riley II, SurfKY News