Articles on "Financial Planning"

January 25, 2013 2:12 pm

Aging Family Dynamic May Lead to Tax Relief

Members of the sandwich generation — caught between supporting elderly parents whose assets are nearly exhausted and adult children without jobs — might find some relief come tax time. The bottom line is, who’s a dependent? Your kindergarten-age son, your adult daughter, her grandparents, or maybe an elderly uncle or aunt? “There’s a changing family dynamic because of the economy,” said Bob Meighan, vice president of TurboTax, an online tax preparation service. More people are living longer. According to the […]

November 26, 2012 5:56 pm

Eldercare Locator Announces Holiday Campaign to Help Prevent Financial Exploitation of Older Adults

10th Annual Home for the Holidays Campaign Encourages Families to Spend Time Discussing Strategies to Address Financial Exploitation With Older Family Members As financial exploitation targeting older adults continues to become more prevalent in the United States, the national Eldercare Locator announced today that it has launched a campaign to encourage older adults and their families to address this critical issue and to get informed about the warning signs and resources available to help prevent exploitation.  Research shows that as […]

October 9, 2012 7:12 pm

Boomer Women Feeling More Financially Insecure than Men

Boomer women are more uncomfortable, worried, or concerned than boomer men about their current financial situation and what the future may hold for them, according to an AARP Public Policy Institute survey of nearly 4,000 boomers aged 50-64 with current or recent labor market experience.  This fact sheet focuses on the responses to 16 questions in the survey that were designed to get at feelings of worry or concern; they do not include specific events or situations that might cause […]

September 24, 2012 5:27 pm

Report Details Cost Of Elderly Care is Challenging Military

First Command Financial Behavior Index® reveals that half of middle-class servicemembers  who care for an elderly family member say costs are higher than they expected At a time when men and women in uniform are dealing with the twin uncertainties of a global economic turmoil and defense downsizing, many military households are facing an extra financial challenge: caring for an elderly family member. The First Command Financial Behaviors Index® reveals that 36 percent of middle-class military families (senior NCOs and […]

August 14, 2012 7:49 pm

Report questions if Senior Checking Accounts are a good “deal” at all

In its report, Still Risky: An Update on the Safety and Transparency of Checking Accounts, the Pew Safe Checking in the Electronic Age Project examined checking accounts offered by the 12 largest U.S. banks and 12 largest credit unions. Five of these financial institutions (four banks and one credit union) marketed special checking accounts tailored for seniors. To understand the costs and benefits of these accounts, Pew compared each senior account to its bank’s or credit union’s most basic checking […]

August 14, 2012 7:27 pm

AARP Survey Reveals Boomers Don’t Expect to Retire

The AARP survey uses these five factors to compile a unique new feature among election-year polls: an “Anxiety Index.” Non-retired boomer voters, defined as non-retired 50- to 64-year-olds by the pollsters, scored 70 percent on the Anxiety Index, significantly higher than both the 59 percent scored by 18- to 49-year-olds and the 46 percent scored by those 65 and older. The results belie a common stereotype of boomers as “comfortable and living high on the hog compared to everyone else,” […]

June 4, 2012 6:28 pm

CEO Predicts Retirement Age Will Increase to 80

American International Group Inc. Chief Executive Officer Robert Benmosche said Europe’s debt crisis shows governments worldwide must accept that people will have to work more years as life expectancies increase. “Retirement ages will have to move to 70, 80 years old,” Benmosche, who turned 68 last week, said during a weekend interview at his seaside villa in Dubrovnik, Croatia. “That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of […]

May 29, 2012 4:31 pm

Protecting Aging Parents from Financial Predators

Estimates from the Aging, Demographics, and Memory Study at Duke University show that 13.9 percent of Americans over age 71 have dementia, millions of caregivers trying to protect parents from financial predators and help them manage their money. Of course, even those who don’t have a dementia diagnosis may find it more challenging to pay bills or stay on top of finances as they age. US News and World Report presents some strategies to get started, click here for more […]

May 15, 2012 1:59 pm

Economy Creates Retirement Community Deals

Wall Street Journal article reports that through negotiation and a birds eye view of finances there are ways to get a deal of retirement communities and senior living options.  The article reports that financial planners—especially those who serve a number of elderly clients—are starting to help clients evaluate local retirement-living options and their  costs. Read article

May 8, 2012 1:36 am

Older Workers Fear Health Care Costs

“Americans — even those who have diligently saved for their golden years — are not prepared for the reality of health care costs in retirement and don’t really understand how Medicare works,” says John Carter, president of Nationwide Financial Distributors. Nearly half of affluent Americans, who have at least $250,000 in household assets, say they are scared that rising health care costs will deplete their retirement savings, according to a Harris Poll released today by Nationwide Financial. Read article