The coming ‘tsunami of poverty’ for retirees — and what to do about it – Marketwatch doesn’t mention that never-popular strategy of reducing your spending! Not so easy to separate wants and needs, especially when cash flow and discretionary income is reduced.
This is so true – although I consider myself better at keeping track of personal finance than some people, I have recently been noticing all the ways I waste time. I admit that bookkeeping is not my favorite activity. I tell my clients that keeping up with financial and other personal paperwork is like doing dishes. You don’t need to deal with it every minute, but like dishes, it piles up quickly if ignored.
“We won’t keep up with the Kardashians if we’re too busy watching ‘Keeping Up With The Kardashians,’ experts note.”
We all have a “back story” when it comes to money! I like to think of money as “the flow” of life. (Please note this is not an endorsement for this gentleman’s financial planning services…)
Here’s how to help an elderly loved one who can no longer manage money or finances.
Banks are mandated reporters. Some of the statistics in this piece are sobering. Family members need to stay involved and be observant.
It was late October when the call came in to the Pima County Sheriff’s Department. The staff at the Green Valley branch of Washington Federal bank needed help. An elderly…
John Bogle, Benjamin Graham, Dave Ramsey and more.
Information is power!
The transition into retirement can be scary, and retirees are more cautious than they appear. “Not being the worker anymore might be more of a call to action to manage money better…”
Above all else, a lack of organization can be costly when filing taxes.
What a tangled web we weave! Recent headlines indicate consumer spending has reached a ten year high, while savings rates have plummeted. Awareness is the first step to getting overspending under your control!
Make better financial decisions with behavioral economics.
This is an informative article, and an often neglected project among seniors. (It isn’t my intention to promote TDAmeritrade.)
Learn why estate plans aren’t just for the wealthy, and what you can do to protect yourself and your loved ones.