As we head to the end of the year, now is a great time to make sure your financial plan still on track. And it’s wise to use a checklist to see where you are and what you should do. Here are eight of the most common and important items to review with your financial advisor
Donating to a cause you care about is rewarding. Unfortunately, not all charities are created equal. Taking the proper precautions before giving ensures that your donations go to the people and organizations you want to help—and that you’re meeting both your personal and financial goals.
According to the U.S. Department of Health and Human Services, more than 70% of individuals over the age of 65 will ultimately require some form of long-term care (LTC). If you should need LTC at some point, your world could change significantly, affecting not only your quality of life, but your finances, as well.
Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Helping them with money matters is a sensitive issue you need to approach carefully. Parents aren’t likely to recognize their own declining abilities, so knowing when and how to step in to help is important. Here are some tips!
The best plans for managing the finances of an older relative are made when that individual is still healthy. These talks should go beyond just discussing money to include subjects like the relatives’ future independence, decision-making regarding finances, health care, and preferences for day-to- day living.
Emotions involved with caring for the elderly can seem almost as overwhelming as the finances. As your loved ones age, what topics must you be ready to discuss? Beyond money, you need to talk about independence and basic preferences for the way individuals want to live or die.