The Sandwich Generation: A colorful label for the people who find themselves providing financial, emotional and physical support for both their aging parents and their children at the same time. According to a 2013 Pew Research Center report, nearly half of adults in the sandwich generation have a parent age 65 or older and are either [...]
When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated for people who expected to use those strategies to boost their retirement income. Here are some questions and answers that could help if you are wondering how the new rules might [...]
A good credit score is essential to prosperity. Your credit score not only impacts your ability to get credit, it also impacts the interest rate you pay when you do use credit. Other than lenders, other companies use your credit score. A poor credit score can drive up the cost of your automobile coverage, or cause [...]
One of the most financially savvy gifts a parent or guardian can give their child is to send them to college. Even with student debt, the difference in a college graduate’s lifetime earnings vs that of someone with only a high school diploma is substantial. This wage difference spread over 40+ years in the work force [...]
Insurance is used to minimize the financial impacts of unpleasant events that can occur in a family’s life, so it’s no surprise that some folks become guarded and nervous when it comes time to talk about it. The combination of an unpleasant topic and an industry that is dominated by commissioned salespersons can rightfully be unnerving. [...]
Way back in February 2014, I penned a blog about a new option for workers whose employers did not have a workplace savings plan. It was dubbed the myRA and was designed as a starter savings account. President Obama discussed the new savings option in his State of the Union Address last year and the U.S. Treasury [...]
Call it a holiday gift. Thanks to legislation passed in December, beginning in 2015, owners of 529 accounts will be able to change the investment options on their existing plan contributions twice per calendar year instead of just once. This increased flexibility is a welcome option for parents and grandparents who use 529 plans to save [...]
Even if you have the best of intentions, it's easy to overspend. According to a Gallup poll conducted June 9-15, 2014,* 58% of people who had shopped during the previous four weeks said they spent more at the store than they originally intended to. Even if you're generally comfortable with how much you spend, you may [...]
Life insurance has many uses, including income replacement, business continuation, and estate preservation. Long-term care insurance provides financial protection against the potentially high cost of long-term care. If you find yourself in need of both types of insurance, a life insurance policy that combines a death benefit with a long-term care benefit may appeal to you. [...]
reposted from FoxBusiness.comby: Andrea MuradOctober 29, 2014 Financial fraud is devastating to everyone, but it can hit the elderly especially hard. “If you’re 20 [years old] and something happens to you financially, you have a long time to make a difference,” says Mackey McNeill, founder, president and CEO of Mackey Advisors. “If you’re older and not [...]