iOS app Android app

Structured Settlement

Annuities, Experts and My Losing 90 Pounds

Don McNay | Posted 05.21.2015 | Business
Don McNay

I was in a coffee shop, having breakfast with my daughter, Angela Luhys, on a week when my weight loss had reached the 90 pound mark since November. While sharing this great milestone with Angela, the guy in the booth behind me was trying to sell an annuity.

A Main Street Way to Help Obese People

Don McNay | Posted 10.24.2014 | Business
Don McNay

"Don't you know things can change Things'll go your way If you can hold on for one more day" -Wilson Phillips I'm 55 years old and morbidly obese. ...

The Hall of Fame and Dead Kentucky Lawyers

Don McNay | Posted 09.04.2014 | Business
Don McNay

It was a session of the Kentucky Bar Association, but it felt like a wake. A reasonably large crowd came to hear about the downbeat topic of attorney suicides. Two years ago, a number of Kentucky attorneys took their own lives.

Clay Bigler, CSSC, Overcoming Adversity to Achieve Success

Don McNay | Posted 04.20.2014 | Impact
Don McNay

Thank God my daughter Gena didn't listen to me. She never listened to me much, but this is one where Dad was dead wrong. She fell for him immediately, and after 20 years, you would think they were still on a honeymoon. I was right about the 30 guys that I ran off before him, but completely missed on Clay.

If You Can Wait Until Your Child Is Age 27 to Let Them Have Money, Do It

Don McNay | Posted 09.29.2014 | Business
Don McNay

Few 18-year-olds are prepared to handle a large lump sum of money. Laws prevent people from buying alcohol until age 21. It is assumed that people who can't legally buy a beer can somehow be responsible for handling thousands and sometimes millions of dollars.

Helping the Wounded Trial Warrior

Don McNay | Posted 06.24.2013 | Business
Don McNay

Trial lawyers have a unique caveat to their job. They are always making someone mad. Often times, like Atticus Finch's character in Harper Lee's classic novel To Kill a Mockingbird, they can find that their entire community has turned against them.

Getting Rich In Supposedly Illegal Businesses

Don McNay | Posted 04.22.2012 | Business
Don McNay

As a society, it would seem logical that we would want drug pushing, loan sharking and corporate influence peddling to stop. At the very least, we could go back to making it against the law.

Has Bank of America Pulled a Netflix?

Don McNay | Posted 12.05.2011 | Business
Don McNay

Three years after US taxpayers bailed Bank of America out by giving them part of the $700 billion bailout, they repaid Congress by slapping their customers in the face with a $5 a month fee for using a debit card. Bank of America may have sparked its "Netflix movement."

Getting Rich Slowly

Don McNay | Posted 10.12.2011 | Business
Don McNay

Because the money is harder to access, people who take structured settlements are more likely to "get rich slowly" than my professional clients who can cash in a mutual fund or stock whenever they want.

Are You Ready to Jump Into the World of Self-Employment?

Don McNay | Posted 10.10.2011 | Small Business
Don McNay

If Americans like the idea of self-employment and know it presents the greatest opportunity for growth, what is stopping some of them from taking the plunge?

A Different Look at Life Insurance

Don McNay | Posted 07.14.2011 | Business
Don McNay

Why give your family a lump sum and have them blow it? Most insurance policies have options to pay out over time, but few people use them. It limits them to the terms of the insurance company. Thus, I came up with a simple system.

Elvis and the Definition of Happiness

Don McNay | Posted 11.17.2011 | Healthy Living
Don McNay

"I believe the key to happiness is someone to love, something to do, and something to look forward to." -Elvis Presley The King had it right. If...

The Person We Should Be Moving Our Money to

Don McNay | Posted 05.28.2011 | Business
Don McNay

Over 4 million people moved their money from Wall Street Banks in 2010, according to Sara Ackerman, project coordinator for Move Your Money. I bought...

UPDATED: What to Do if You Win the Mega Million Jackpot & can you stay anonymous

Don McNay | Posted 05.25.2011 | Business
Don McNay

You would think that after having overcome trillion-to-one odds, the idea of running through the money would seem silly to most lottery winners. But 90 percent of people do just that within five years of winning the jackpot.

Have We Lost Our Common Sense?

Don McNay | Posted 05.25.2011 | Books
Don McNay

Corbin, Kentucky's Bob Terrell is a man rooted in small-town wisdom.

Byron Crawford, Bard of the Backroads

Don McNay | Posted 05.25.2011 | Books
Don McNay

Crawford's new book, Kentucky Footnotes, appears to be anthology of some his most interesting columns from his 29 years as an award-winning columnist. It's more than that.

Financial Fitness and Physical Fitness

Don McNay | Posted 05.25.2011 | Business
Don McNay

Most of us want to be physically fit, but very few of us are. The same holds true with financial security. As my father (and many others) used to say, "A lot of people want to go to heaven but no one wants to die to get there."

Is Main Street Ready for the Second Wave of the Recession?

Don McNay | Posted 05.25.2011 | Business
Don McNay

The phrase "double-dip recession" means little to most of us. To people on Main Street, it hasn't been been a "dip". We took a drop to the bottom two years ago and stayed there.

What Are We Going to Do About Gambling Addicts?

Don McNay | Posted 05.25.2011 | Business
Don McNay

My solution to gambling addiction would be same one that seems to be helping keep track of sexual predators: A national registry. If widely shared, such a list could prevent addicts from any legalized gambling.

Things to Consider When Taking a Buyout or Severance Package (Video)

Don McNay | Posted 05.25.2011 | Business
Don McNay

I've found that people leaving old line companies, even with a severance package, were more bitter than those where companies treated employees like interchangeable parts.

Money, Sex and Hot (Broke) Messes

Don McNay | Posted 05.25.2011 | Business
Don McNay

People looking to solve financial problems are also looking for empathy. Instead, the message they often receive from books about money is "I'm OK and you're an idiot."

Tearing Up the Lotto Ticket

Don McNay | Posted 05.25.2011 | Business
Don McNay

Almost all of us have our own "lotto moment." We make decisions about money that will either give us long term security and happiness or bring on pain and regret.

Abraham Shakespeare: Death by Lottery (video)

Don McNay | Posted 05.25.2011 | Business
Don McNay

http://www.youtube.com/user/mcnayonthemoney#p/a/u/0/t-nYOCaF2cM Here's a video of my comments on the death of Florida Lotto winner Abraham Shakespe...

Just Say "No" to Adult Children Wanting Money (Video)

Don McNay | Posted 05.25.2011 | Business
Don McNay

Why people should not give money to their adult children.

It's Time to Teach Children About Money

Don McNay | Posted 05.25.2011 | Business
Don McNay

I'm convinced that most of the mistakes made handling money result from lack of information and bad habits formed in childhood.