Gilbert Wealth Articles

How to be the Bank of Mom and Dad: Funds, Terms, and Estates

So you've decided you want to become the Bank of Mom and Dad. Fortunately, you don't have to register with the state or federal government. However, there are some important considerations you should address.  This is Part 2 of the Bank of Mom and Dad Series. Part 1: How to Be the Bank of Mom and Dad: A Guide to Lending Support Without Losing Your Mind (or Money) – Gilbert Wealth Part 3: The Bank of Mom and Dad: FAQ and Closing Thoughts – Gilbert Wealth The Best Sources of Funds Before you act as a lender, assess how the loan fits…
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How to Be the Bank of Mom and Dad: A Guide to Lending Support Without Losing Your Mind (or Money)

Many parents want to help their children financially—but just handing over a check isn’t the only option. More and more families are turning to what’s often called the “Bank of Mom and Dad,” where parents offer loans instead of gifts to children for major life expenses: buying a home, starting a business, or consolidating debt. Done well, it can be a powerful way to support your child while preserving fairness and family harmony. Done poorly, it can lead to resentment, financial strain, and even legal trouble.This guide covers how to be the Bank of Mom and Dad wisely blending heart…
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After the Fall: What History Tells Us About Markets That Drop 25%

When the market drops 25%, it doesn’t just sting—it rattles us. Headlines scream recession, portfolios shrink, the normal group of permabears wake from their slumber to talk gold, and emotions take over. In those moments, it’s natural to wonder: Is this different? Should I get out before it gets worse?It's times like these that I look back to what history has shown us in the past to gain reassurance. History has a story to tell. And it's a story worth listening to. History of 25% Downturns Since 1950, there have been nine times when the U.S. stock market fell at least…
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What Is Generational Wealth and Why Does It Matter?

When people hear the term generational wealth, their minds often leap to sprawling estates, trust funds, and family businesses passed down like heirlooms. This stunning image of the Biltmore Estate captures the grandeur of America’s Gilded Age—a time when the Vanderbilt family stood as the richest in the country. Built by George Washington Vanderbilt II in the late 1800s, the Biltmore was a symbol of unmatched wealth and vision. Yet within a single generation, the fortune that funded this 250-room mansion had all but disappeared.Despite their immense financial power, the Vanderbilts failed to pass on the financial discipline, unity, and…
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The Power of Starting Early: How Saving Less Can Lead to More

This is a story of “Saving Sara” and “Delay Dan”. Both Sara and Dan start their first job at 21. While they aren't earning much, they do have money left over after their needs are met.Sara, having learned the power of saving early, begins investing $2,000 per year at age 21 and stops after just 10 years.Dan decides to put off saving and spends his surplus income. He waits until age 31. Trying to catch up, he invests $3,000 annually - $1,000 more per year than Sara did - for the next 35 years.So who ends up with more by age…
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The Powerful Role of Compound Growth in Reaching $1 Million

When it comes to building wealth, time is one of the most powerful tools at your disposal. The image below illustrates a profound financial truth: the longer you give your money to grow, the less you have to invest each year to reach your financial goal. And the math is striking. The Cost of Waiting The chart shows how much money you need to invest annually to accumulate $1 million over different time horizons, assuming an 8% average annual return—a historically reasonable rate based on long-term stock market returns. The math is straightforward but stunning. Take an example of a new…
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Giving in Retirement

As retirement unfolds and income shifts from paychecks to portfolios, many believers find themselves reflecting on how to continue giving.Should you tithe on IRA distributions or investment withdrawals if you already gave on that income when you earned it?Should you only tithe on the growth after the original tithe?Social Security benefits are generated from income you already tithed on, should you give from that?Those questions, while seemingly practical, stray away from the true focus of giving: our posture.  Jesus never commended those who gave by formula. In fact, He did the opposite:“What sorrow awaits you Pharisees! For you are careful to…
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How to Track and Implement a Budget

Budgeting Program Using a budgeting program (an app, online website, software, etc) is a great way to develop and implement a budget. Here are the two general flavors. Aggregation Tools I love aggregation tools because it makes managing a budget so much faster. The less work you have to put into just getting the data, the more likely you are to stick with it. Aggregation software automatically pulls in transactions from your banks, credit cards, and other accounts; performs some basic categorization for you; tracks your progress in the budget; alerts you to overspending; and can provide some useful graphics…
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Budgeting Terminology You Should Know

Budgeting guidelines use all sorts of terminology. Here are the most important ones you should be aware of as you start crafting your own budget. Essential Expenses Essential Expenses are those you cannot reasonably live without. What does that include? That’s where money is more of an art than a science and is different for everyone.For example, most agree that your mortgage payment falls within the essential category. What if your mortgage payment is from an 8,000-square-foot home with a pool and private tennis court? Essential or not?Generally essential expenses include the following: Housing Anything related to maintaining a residence.Mortgage…
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A Guide to Popular Budgeting Methods

Choosing a budgeting method can feel overwhelming given the many strategies available. Each budgeting style offers a different way to approach spending, saving, and giving, depending on your goals, habits, and personality. Below is a detailed overview of some of the most popular budgeting frameworks used today.1. Backward Budgeting (Reverse Budgeting)Backward Budgeting, also known as Reverse Budgeting, is a powerful strategy grounded in the principle of "paying yourself first." Instead of allocating money toward expenses and saving whatever is left over, you first determine the amount you want to save or invest. Once your future goals are secured, the remainder…
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