Helping Family Members without Harming You
One of the most challenging aspects of retirement, or any time for that matter is being called to help family members financially. On the one hand, if someone is in need, it’s our natural inclination to want to help. There are times when helping can be harmful, either to the helper, helpee or both. Metlife Mature Market Institute studied the dimensions of economics and emotions. What do you … [Read more...]
Finances for Couples: Tips for Money Management
Financial disagreements are the greatest predictor of divorce in a couple. In fact, financial issues can put a greater strain on a relationship in retirement. Tips for money management and financial communication can be an important aspect of the retirement transition. If you haven’t already, create a household budget planner. Discuss the budget together and make sure both of you are in … [Read more...]
Have You Calculated Your Retirement Spending?
The financial industry has traditionally focused on retirement income to evaluate the probability of one not outliving their money. As the economy stalled with many baby boomers reach retirement age with less than an ideal retirement savings. The focus has shifted to calculating and controlling retirement spending. The first question is do you have a spending budget? Do you know how much money … [Read more...]
Financial Scams on the Elderly
Of course, we believe it won’t ever happen to us. We are not going to be a financial victim. Did you know that over 7.3 million Americans over 65 have been financial fraud victims? Financial scams on the elderly is a serious problem and will escalate as baby boomers reach retirement age. The incident with Bernie Madoff taught us that anyone could be a victim. Many people have learned the … [Read more...]
Add Value to Your Home
Whether you want to sell your home now, are planning for the future, there are a few ways to add value to your home. Paint. The easiest and possible cheapest way to improve the appearance of your home is through paint, both inside and out. If you’re planning on selling your home, colors should be neutral that will appeal to the largest number of people. New Appliances. Nothing can be more … [Read more...]
Multigenerational Families Living Together Increase
The recession has resulted in multigenerational families living together. There isn’t a typical family living together, but here are some statistics that show the new face of the modern household. As you might imagine, the financial situation has been a huge contributor to multigenerational families living together. In 2000, there were only 20.9 million households that were multigenerational. … [Read more...]
History of Medicare
Dr. Tom McCleary delivered an informative talk about the history of Medicare at the Prescott Adult Center recently. Medicare is a relatively newcomer to the line of entitlement programs. It was a established in 1965 by President Lyndon B. Johnson as a safety for older Americans. According t Dr. McCleary the medical landscape has changed drastically since then. In 1965, the average retiree lived … [Read more...]
A Guide to the Good Life and Saving Money
Billee Sharp's Fix It, Make It, Grow It, Bake It: The D.I.Y. Guide to the Good Life is an inspiring and instructive handbook to living the handmade life, consuming less, and creating more. Practical and profound, this book covers every area of life and offers easy-to-do tips, recipes, and advice on saving money and the planet. In this D.I.Y. guide to the good life, you’ll learn how to edit … [Read more...]
Change Your Spending Habits in Your Senior Years
If you have concerns about running out of money in your in your senior years, changing your spending habits can help. Consider the following suggestions by By Nancy D. Butler: * Use the library to borrow books and movies * Free bread available from your senior center * Shop less often, use coupons and have a list of what you need * Avoid impulse buying * Refinance loans to lower … [Read more...]
Retirees Learn the High Cost of Medical Treatments
If retirees know the right questions to ask, they can save themselves a lot of money by avoiding medical treatments either that don't help them, or hurt them more than they help them. Typical medical treatments help only about half of the people who get it. This startling fact is true of most drugs, most types of surgery, etc. Further, side effects and complications kill more than 600,000 … [Read more...]