Read our post that discuss about 1040ez Printable Tax Forms. And mail irs tax formsIncome tax forms 2017: printable tax form 1040 1040ez. Worksheets, 2017 tax. Cloud Mining ROI The cloud mining ROI is an obvious parameter when to compare and select the best cloud miner. The ROI can be hard to compare since you need to do it over a long time. In addition, it can change dramatically in short time periods because of the volatile markets. We have logged the payouts from all cloud miners presented on the main page. Of all these cloud miners has performed best over 3 years. It´s hard to calculate an exact ROI since we have bought several contracts during the period. Some contracts have also run out of profitability. However, Genesis mining has told us their estimated yearly ROI is 15% for their contracts. But if the Bitcoin price rises the ROI can be higher. The numbers well correlate with our contracts. Has worked hard to reduce their electricity fees and their contracts are now good as well. Was the best Bitcoin cloud mining contract in our latest Bitcoin cloud mining calculation. Cloud Mining Stable Payouts We want to know how much the payouts could fluctuate and how stable the payouts are. We have seen that Genesis Mining´s payouts rely heavily on the Bitcoin price and the mining difficulty. However, we have not experienced the same fluctuations from and if you are looking for more stable payouts. They all have an alternative product which is more like an interest wallet or investment program. This product differs from the general cloud mining contract in that way that your investment is possible to withdraw. A simple explanation is that you take less risk and receive less ROI. Cloud mining transparency Cloud mining transparency is very important since this market is full of scams and Ponzi schemes. Also, many users like transparency and communication because it gives you information about what you have invested in. We would say is the best operator in transparency and communication with the customers. They have a blog they continuously update with news, webinars and live videos from their mining farms. Also, Hashflare has improved their communication to their customers via social media and email. Genesis mining Promo code: allcloud 3% off. ![]() I'm curious what people tell their kids about how much money they make or are worth. Do you tell them? Do you keep it quiet? If they ask you these questions, what do you tell them? EDIT: I should have added more context behind my question. My father in law is worth some coin and his kids know it. My wife and I basically live with the assumption that we're getting zero.if we do get something, it's gravy. Her older siblings (in their late 30s) seem to have zero motivation or urgency to build a retirement portfolio or financial independence (1 still lives at home). Not sure if this is coincidence or because they know they might have a pay day coming in the future that negates the need for them to build a retirement portfolio on their own. My kids are very young, but when they ask or start to wonder, I’m wondering if it will be detrimental to tell them what we’re worth or motivational so they can do the same. Income: I think that children should know the relative incomes of different professions, including yours. Wealth: My children are in their 30's. They know pretty accurately what their grandfather is worth and what I am worth. They knew what our house was worth in their teens when I sold one and bought another. Honesty: When my children asked me questions, I didn't lie to them. That doesn't mean I told them about the mechanics of sex when they were four, but it means that if they asked what I made, I told them. I saw no harm. I don't have kids, so I can only mention how my parents handled this. Growing up, I really had no idea how much my parents earned. All I know is that my father had a 9-5 job, a side business, and he worked his butt off during my entire childhood. I only found out how much he made when, as a teenager, I found one of his paystubs that he forgot to put away on a table. They never told me much of anything about their finances. Clearly, we weren't starving. They generally drove older cars, and we didn't take many vacations. But they did do a lot of additions/upgrades to our house, and if there was some kind of sudden large expense for anything, it was paid without any bickering or worry. Actually, the only thing they ever really told me about their finances growing up is that we didn't have a mortgage on the house, since dad saved up money from his side business, put 50% down, and paid off the rest in 5 years. They were real proud of that. In my early 20s, since they knew I was really into investing, they aksed me to clean up and 'manage' their investments. So naturally, I found out exactly what they had. Since I'm monitoring everything now, I could probably tell you their net worth to the nearest $10,000 off the top of my head. Of course, I keep that secret to anyone other than them. If I had kids, I would not offer any earnings/net worth information. If they asked, I would probably give some roundabout answer like show them how to find out a salary range for my profession or something like that. What a great question. I have a 3year old and one day may face this question (or not, you never know). My husband and I would probably tell. If our son asked this when he's older - say - in his teens, then I would respond truthfully but ask him a few follow-up questions: 1) 'Why do you ask? 2) 'How did you think we got to where we are/our net worth?' 3) 'How are you going to achieve - and preferably exceed - what we've done?' His response would precede any additional detail I give him and it would let me know whether he could be a responsible steward for any wealth we leave. I have been financially secretive all my life. I can't say why. I would not tell my mother how much I earned and had even though she once asked. She died at 92 without any knowledge. My wife knows, of course, but my grown children (40s) have no idea. They may be surprised when they learn after we pass on.or they may not.I don't know what they think. We have never discussed our personal finances in any manner. They have copies of our revocable trust, wills, etc,, know where we keep our funds, but don't know how much there is in any of our accounts. (They never have asked either.) By the way, I don't know how much they earn or have either. I voted yes but: It depends on age and maturity. In the earlier years that would be a no. College age it becomes a yes for investment and knowledge need to know basis. It was also a motivator for why he needed to study, go to college and try to do as well as, if not better than we ever did. Trying to encourage him, I hope it worked. His Mon & I never got college degrees, we actually didn't think we had what it took. Sad but true. My son will have a degree soon and will be the first in my side of the immediate family. Yes, I will be (am) proud of him. I still do not have any idea what my parents really have and I'm about to turn 57. But there are 3 of us brothers. I will say, I'm beginning to wonder if they are financially OK though, because of some health and hospital stay issues. In my personal situation I only have one son so I decided he needed to know some info in case anything happened to his MOM and myself. About knowing about your children. Sometimes you can't help but know. When my son-in-law graduated from law school and became a new associate in a major law firm, data was easy to find (NY was paying about $15,000 a year more than Chicago or the West Coast). He told me himself, but it wasn't really a secret he could keep. My daughter is a dentist. Not tough to figure out. My son started work for a company that offered him a choice of a 5% match 401(k) or Roth 401(k). He asked me which he should choose, so we sat down and worked out how much lower his take home would be if he used the Roth (and how much more he would be saving for his retirement). I also know what he paid for his house and how large his mortgage is. Let's turn the 'if they know, they will be wasteful' argument around. If you know your children make more than you and could support you in your old age, are you going to blow it all? If not, why do you have less respect for your children? Both of mine are quite young still, but I intend to be open with them about our finances. I think it's a great opportunity for instruction, to talk about where you are and the mistakes you did and didn't make along the way. Too many kids end up financially illiterate, and stories from experience make much more of an impression then talking about how it 'should be done'. I'm not worried they'll end up lazy, because part of the openness will include letting them know they only will inherit a very modest part of it all. My experience and beliefs have soured me on the idea of large generational wealth transfers, and I'll be happy to talk to them about the reasons for that too. EDIT: Also, my wife is in the uniformed services. Once they are old enough to wonder about such things her income is easily calculated from online sources. For the last 2 yrs my 16 y old is actually the one who crunches the numbers when we do our annual rebalancing. Initially he agreed to do the math in return for a video game but soon wanted to know what was going on. I used it as a teaching opportunity and had a discussion about stocks, bonds, rebalancing etc. He is now aware of what the salaries are in his Dad's and Mom's profession. Also aware of the importance of education for good earnings over a lifetime. He learns AP economics at school and asked me some intelligent questions. We discussed about mean family income, why some students get reduced price lunch and some dont. Being good bogleheads (before we were bogleheads) we always lived below our means. Our kids never asked and we never told them. Now fully mature adults, they have never asked about net worth and we've never told them. I'm sure they know we're 'comfortable' but I think they'd be surprised how much they'll inherit. If one of them became curious for a good reason to know, I'm sure we'd tell that one and then the others as well. It's not a secret, just not something we think they need to know. BTW - that's how we were teated by our parents, which I think is highly predictive of how children act as they grow up. If my kids start to ask what we make or what our house is worth, I will start to look around and figure out whether something is amiss, because generally normal kids shouldn't be concerned about such things. That's not to say every kid who asks such a question is screwed up -- sometimes it is just curiosity. But if there was a trend of some sort -- a red flag would go up with my wife and I. I would not lie to them, but I also would not necessarily answer the question either if they were younger than mid to late teens or so. Once they are a bit older than of course planning considerations come into play. At this point, being retired and able to live a comfortable life style, I remind them by example and by word, that the way I got there was by dollar cost averaging from EVERY paycheck. I didn't have an inheritance. Do you tell them your net worth? As long as you have one kid who thinks that because you have more, then you should share it, then I would say no. This leads to the other fun clarifying question: What would you do if you won the lottery? Say 50 Million. My wife would give each of the kids a large chunk. I think this takes incentives away. I have asked many people this and the answers highlight the differences couples have in the way they deal with money. DaveS wrote:Interestingly I just finished reading Swedroe.Right financial Plan. In it he says that a big reason, though not the only reason, why estate plans fail is that parents did not talk with heirs about what they had, and wanted, so as to prepare heir's for managing assets to be inherited. He goes so far as to say children should help write your investment policy statement. Failing to plan, is planning to fail. Think about it. Dave Dave: This is exactly the reason why we plan to be up front and honest with our son. I'm reading James E. Hughes' Family Wealth, since we're interested in changing our family tree and looking into generational planning strategies. One theme that keeps popping up about wealth dissipation across generations is that the first generation does not realize the importance of both intellectual and human capital development alongside financial capital accumulation when it comes to preserving 'family wealth'. People think about money only when it comes to wealth - but they don't realize that money has been made by the transformation of one's intelligence, talent, time and effort. It is a myth that children of the rich are more inclined to become lazy, unmotivated, or entitled - but it is very possible that parents are too busy focusing on their financial asset accumulation and ignore their family/children's intellectual and human asset development. There are plenty of 'rich kids' or 'trust fund babies' who have started and operate successful businesses. [We know of one, personally, and this person certainly never ever has to work a day in his life if he doesn't want to - but he's constantly busy with projects and businesses he enjoys.]. My teenage son never asked me about it, and that actually worries me a little bit. We live a very modest life style but we do take vacations from time to time, and the son got everything he needs (he never had any excessive request). We paid everything for his college. So guess he doesn't have a motivation to ask for our net worth yet, but just assume that we're doing fine and he'll get what he does need. The concern is that I still have not found a good way to educate him on managing personal finance, since he's entirely dependent on us for now. Our adult kids are aware that they are the sole beneficiaries of estates. They understand that they will not become beneficiaries until both a healthy DW and I are underground. I have made it clear/vague that we have sacrificed and invested well over the years instead of living an extravagant life style as many of our friends and family have. They understand that we will be very comfortable financially for the rest of our lives (25 years +?) and they will not have to worry about having to support us in our old age. I think that this is a pretty good balance. I figure I'll respond because I have a different real life take on it. I'm in my upper 20s and my parents in their mid-60s. My father was in uniformed service, and I first determined his salary when I was probably 12 and found it on the internet. I could make a guess at their network growing up, but it wasn't something explicitly shared. I did help my dad with his taxes and balancing his checkbook from around 14. I first found out my parents networth when my grandmother passed 10 years ago and left a modest inheritance to my dad. Although it was my mom who said the number. Since then, I've sat down with my dad every other year to go over his investments and where he keeps the documentation - we live quite a ways apart. I'm sure I'll take over finances for my mom if my dad were to pass, so I assume that is why he does it. My parents live well within their means (my dad is still working at mid 60s), so may have money left to leave, but I hope not. I hope they live long enough to spend it all aside from what they already plan to bequest in their will, which I have a copy as as well. On the other hand, my parents don't know what I currently make. They know my previous salary, so can guess the range. My mom asks me at least yearly but I choose not to tell them. She does the same with my networth, but I will only give a very rough range of that. Sscritic wrote:When my daughter was a pre-teen,.I used to test her on 60s rock; she was required to recognize Chuck Berry, Ricky Nelson, and Elvis by sound (including songs she had never heard before). I could have written either of those (except substitute Beatles and Stones for the Ricky Nelson part). My kids are 17, 15 and 11. They know I'm a lawyer, and that I enjoy Bogleheads and spend relatively much time thinking about investments. I've never told them what I make or how much we have, but they're not stupid. The oldest, at least, knows that we're not applying for college financial aid despite frequent advice to do so, and all know that college money has been set aside for each of them. They have all been warned to prepare for independence: that they are not going to live in their old bedrooms after college. As they become self-sufficient adults, I expect to share more with them about what we have and how it's invested. I figure to be an open book to them by the time they are in their 30's and mortality becomes more than a statistical blip (although wife and I are both healthy). In the meantime, I do talk with them (and the wife) about what I have learned on this board: why we invest in index funds, the importance of asset allocation and reducing costs, and things that are happening in the financial markets. The youngest associates index funds with a conversation we had about betting on coin flips in a particular restaurant (index fund = more coins to bet on --> lower variance). If I raise three little Bogleheads, I will have served them well. A little family context. I helped my mother manage her finances after my father died. I took over the task entirely when she was not longer mentally capable of doing so. As her executor, it was very helpful to me to know where everything was when she passed. I did a great deal of simplification of her financial affairs over the last ten years of her life. My wife knows very little about her parents' finances. They are both in their 90's and their health is not great and their mental acuity is noticeably waning. Our two daughters are both married and in their late 20's. They are aware that we have not had a mortgage for many years, a strategy I discussed with them, and are aware that we can afford to retire should we want to do so. They both have an idea as to the value of the real estate we own, but don't have any idea as to how much we have saved in our retirement accounts. They have some idea of what we have in our taxable accounts. We are probably within 3-5 years of full disclosure. Once my wife and I are both retired I think it will be important for them to know where all assets are located and how they are all invested. I was about 45 when I took over entirely for my mother. I was about 5 years too late. I don't want to repeat that mistake. I've named numbers to my kids occasionally, but perhaps I should mention that they are both thirty-something wageearners with 401(k)s and families and such. When the kids were growing up, I dropped broad hints. One of the most valuable exercises I ever had occurred in, I think it was junior high school, seventh or eighth grade, when we were given the task of 'making a budget for a family that earns $5,000 a year.' (This was in the late fifties). It was extremely valuable in itself. And it forced me to seek help from my mother and find out the cost of a lot of things I'd never tried to price out. I grew up in a wealthy suburb, and my mother had to do a lot of headscratching. Somewhere quite early in the project, she said, 'Oh, dear, you know we live on a lot more than $5,000 a year so it's a little hard to know how you'd handle things on five thousand.' Eventually I pressed, and she allowed as how 'we live as if we were making about fifteen thousand a year.' Our family was always pretty closed mouthed about finances and wages. I do however, remember a little celebration when my dad got a raise to 60 cents an hour. Wow, a penny a minute - 12 candy bars per hour, that was worth celebrating. Later though, I never knew his income or wealth - and he never knew mine. My boys never knew how much I made either, though they often tell me how much they make - seeking dad's approval I guess. They are in their mid-forties now. I've told them they will probably inherit about X. One will probably retire immediately, the other will probably continue to slave away! Fortunately, DW and I live on a well lit street and the alarm system works. I think it's best not to tell them. My husband's daughter worked for him in his business, (which he has since sold)and as such knew exactly how much he is 'worth' and that she will inherit half of it (her brother inherits the other half and doesn't know, or want to know, how much he may inherit). She has, therefor,made extremely foolish financial decisions, knowing she doesn't have to save for retirement or anything else because she is pretty sure about how much she will inherit, and her dad is not in good health. He told me he regrets letting her know his finances. Cloud wrote:I don't think they're old enough to know your net worth until they're in their 40's. Blanket rules are always a bit short sighted. When I'm in my mid 40s, my parents will be in their mid 80s. By then one or both may be mentally incapable of making decisions, dead, or any other range of issues that effect older people, especially getting preyed up by scam artists. I hope that my parents mental capacity wont ever degenerate to that point, but hoping is a very poor form of planning. Every person is going to be different about when they start becoming responsible with regards to financial matters, and that is probably the best starting point for easing knowledge into them. It shouldn't surprise me that 75% of the answers are no, given how often I see the sentiment of 'I started with nothing and did ok, so can they'. It is certainly everyone's freedom to take their money to the grave with them, or bequeath it to a charity; however, nothing in that prevents you from having intelligent discussions at appropriate maturity levels with your children to help them understand the same values that you find important. If you try to raise your children with the same moral values that you find appropriate, why does that change when the values are financial? Right now since my boy is only 13 - I'd never tell him, except to give vague references to teach him to save and take care of himself. I have no idea what my parents are worth except I know my mom has diddly squat for her age and my dad is at least 'comfortable' in his frugal, semi-retired lifestyle. Neither one did much of anything to save for their futures until they were in their 40s. Saw my dad's Social Security annual statement once a couple years ago. He peaked the year before his semi-retirement at age 60 at less than half what I was making at the time.so the American dream is still alive and well.
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