Friday, January 30, 2015
Davis Motor Sales banner ad
Posted on 2/2/14
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 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 by using one of the social media links below.

2/6/2014 - posted
3/13 - 16
1 DOW 17,347.75
-69.10 (-0.40%)    
2 S&P 2,005.06
-16.19 (-0.80%)    
3 NASDAQ 4,658.32
-25.09 (-0.54%)    
2/6/2014 - posted
3/13 - 16

Most Read This Week

January 28, 2015 17053

UPDATED: Several Involved in Two-Vehicle Accident

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 26, 2015 7288

KSP Arrests Two on Child Porn Charges; MPD…

in Top News For All Sites Touching Hopkins by Trooper Stu Recke
January 25, 2015 7086

Dean’s List Announced

in Top News For All Sites Touching Hopkins by Joyce Riggs
January 28, 2015 6458

Nortonville Man Accused of Meth Possession,…

in Local (Hopkins) Top News by Madisonville Police Department/Hopkins County Detention Center
January 26, 2015 5025

School Board Votes 3-2 for Utility Tax

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News
January 29, 2015 4895

Man Charged with Sexual Abuse of Child

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 25, 2015 4590

Juvenile Hit by Vehicle at McDonald's

in Local (Muhlenberg) Top News by GPD Officer Wes Miller
January 28, 2015 4479

Tax Recall Committee Formed Day After School…

in Local (Muhlenberg) Top News by Charles W. Riley II, SurfKY News

Most Read This Month

January 08, 2015 22144

Woman Claiming to be 'Lady Gaga' Tours Town in…

in Top News For All Sites by Madisonville Police Department
January 15, 2015 21792

UPDATE: Fatality Victim's Name Officially Released

in Top News For All Sites by Doreen Dennis, SurfKY News

Stories Trending Today

January 29, 2015 4895

Man Charged with Sexual Abuse of Child

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 29, 2015 2993

UPDATE - Students Have until Jan. 31 to Enter…

in General News For All Sites by James R. Comer
January 29, 2015 1615

Group Organizing Prayer Circle for Youth

in Local (Hopkins) Top News by Doreen Dennis, SurfKY News
January 29, 2015 1504

Kentucky Highway Crews Prepare for Possible…

in Top News For All Sites by Keith Todd
January 29, 2015 1351

Hopkins County Health Department Food Scores Thru…

in Hopkins News by Barry Franklin
January 29, 2015 1339

Hopkins County Sheriff's Reports Released

in Hopkins News by Hopkins County Sheriff's Office
January 29, 2015 1265

Madisonville Police Arrest Reports - Jan. 29, 2015

in Hopkins News by Madisonville Police Department
January 29, 2015 1156

Probation and Parole Violators - January 29, 2015

in Video by Crime Stoppers
January 29, 2015 1034

Keystone Approval Will Boost the Economy, Support…

in General News For All Sites by Robert Steurer
January 29, 2015 981

Protect Your Sensitive Information from Hackers

in General News For All Sites by SurfKY News
January 29, 2015 917

Revive the Art of Letter-Writing

in General News For All Sites by SurfKY News
January 29, 2015 903

Whitfield Meets with Fort Campbell Soldiers

in General News For All Sites by Marty Irby