Rather than beat yourself up this year (again) because you waited until the last minute and felt all the stress that …Read More
In the coming months, many high school seniors will be heading off to college, but have their parents funded these students’ futures at the cost of their own?
While admitting that it is a “tough stance to take,” a writer for the Minneapolis Star Tribune suggests that “most parents shouldn’t save for college” because they need to concentrate on their overall financial health and focus on retirement planning.
The writer of the article spoke with financial experts who were sympathetic to the dilemma of parents who want the best for their children. Parents are supposed to sacrifice for their …Read More
History Month, and throughout the ages women in various societies have not necessarily had the resources and wherewithal to address their particular financial needs. Today, women have more opportunities to engage in and seek advice about financial planning, but they do not always take advantage of these opportunities.
On the Forbes Fee-Only Planner blog, Eva Kaplan, CFP(R) Practitioner, recently discussed how women have different financial planning needs than men do:
“The biggest single financial challenge Americans face is lack of retirement preparedness. These issues are especially acute for women.”
Then the blog goes on to outline some of …Read More
Someone once told me they knew of a couple who said that they were going to enjoy their retirement and spend their money so that their children would not have much to fight over after they passed away. That is one way to handle your finances, although there are no guarantees that leaving little money would keep the peace. Another approach could involve outlining clear plans for your finances and relaying these plans to your children, emphasizing your faith in their ability to be mature regarding your decisions. If you are interested in estate planning, both to ensure you …Read More
As we get older the parent-child relationship changes: it can become more of a friendship and in some cases, parents and children completely reverse roles. If your parents have already taken the time to speak to you about the steps they have taken towards retirement planning, consider yourself fortunate. If they haven’t, and you are in communication with them, you should consider talking to them about their financial future.
Parents may assume that their children don’t want to talk about finances and children may feel presumptuous asking about their parents’ money. One thing you might want to do is …Read More