The most important things to have in your possession when you are caring for aging parents – or if you’re in a position where you ever might care for them – are powers of attorney. And the powers are not one set of paperwork – they are two. The first kind of power of attorney is for finances. The document, usually drawn up by a professional in …
The Five Key Risks All Retirees Face
by Jeff Helms, CFA Over the next twenty years, roughly 79 million Americans will cross the threshold to retirement, joining the millions of folks that are already retired. Welcome to what we call “Generation R”. The Retirement Generation. In my years of retirement research, I’ve identified five common risks that all retirees face. These …
Bankruptcy…the Last Option
Following up on a previous senior bankruptcy news item, we've found some additional (and helpful) more information about the state of older Americans and bankruptcy from the AARP. Many Americans are feeling the crunch with the slow down in the economy and increased costs. Americans age 55+ have experienced the sharpest percentage increase in …
Saving Money in Our Current Economy
Many baby boomers and seniors are cutting back in order to make ends meet during these lean times we seem to be in. We all want to be able to make the most of our money, but we encourage you to take a good look at where you are spending your income so you can make educated cutbacks. Reports are all over about how many older Americans are having to …
Will 401K’s still work?
After the recent turbulence in the financial markets experts are questioning the impact to our 401K’s. Back in the 1980’s, the majority of workers enrolled in some type of retirement plan or were in a pension plan. Today, the majority are in a 401K. With the 401K’s being so tied to the stock market, Americans young and old have felt the pain of …
Saving More Important Than Ever
A study by the AARP released last week reveals the impact this economy is having on Baby Boomers. A high percentage of individuals have changed the way they invest their money because of these turbulent economic times. Many are dipping into their retirement accounts or have stopped depositing money in their IRA in order to meet their monthly …