The Social Security Administration has indicated that one in four 65-year-olds will live past the age of 90 and one in ten will live past age 95. With men and women living much longer than in the past many face a significant concern they will outlive their money. Many financial planners argue that people will… Continue Reading
Category Archives: Estate Planning
Protect Yourself – Preventing Elder Financial Abuse
In a recent post I advised family members of things to look for to protect their parents. Of course, if an older individual has the ability he or she will be primarily responsible for his or her own protection. The Mature Market Institute has several helpful hints to protect oneself: Stay Organized – keep track… Continue Reading
Protect Your Parents – Spotting Signs of Elder Financial Abuse
It’s always been important to protect family money, but with the difficult economy, it’s now more important than ever. One way to help mom and dad maintain money for their retirement, is to avoid losing it to fraud or financial abuse. Learn to recognize signs of potential abuse. Some of the signs are: Changes in… Continue Reading
Two Ways to Help Your Parents
Many older individuals live on a fixed income of Social Security. That can make paying for major expenses such as a car, a new roof, or perhaps an uncovered medical bill extremely difficult and stressful. Often times, when a child has the ability to help out financially, they do. Here are two basic ways to… Continue Reading
Want to Help Your Parents: Create an “Upward Trust”
Are concerned about how your parents will pay for the basic necessities during retirement, or pay for long term care or uncovered medical bills? If so, there are a number of ways relatively affluent adult children can help. One way is to set up an Upward Trust. This trust is so called because it is… Continue Reading