Great Recession scars still leave Americans anxious about spending on the good life

“Are Americans still anxious about their financial future even after eight years of a growing economy? Their hesitation to spend on certain “extras” such as going out to eat, visiting Disney World or buying a club membership suggests lingering unease.”  Personally, I agree that some of us have become more conservative with our spending.

Source: Great Recession scars still leave Americans anxious about spending on the good life – MarketWatch

How Far Will $1 Million Go in Your Retirement, State by State?

A million dollars—it has a nice ring to it. But as Dr. Evil learned after spending 30 years cryogenically preserved, it may not be enough—for many people, certainly not enough to comfortably retire on, depending on where and how long they live.

For those of us living in California, not great news!  Some solutions are to continue working longer, watch your spending, or relocate to a state with a lower cost of living.

Source: How Far Will $1 Million Go in Your Retirement, State by State?

Are You Intruding If You Monitor Your Aging Parent’s Finances?

Good advice – don’t wait for a crisis…if there are warning signs of cognitive decline, now is the time to provide or seek support.

No matter how accomplished and experienced your aging parent may be, he or she is still susceptible to cognitive decline with age. Monitoring your aging loved one’s finances can prevent losses, protect your inheritance and keep elders from becoming overwhelmed with management responsibilities.

Source: Are You Intruding If You Monitor Your Aging Parent’s Finances?

80 percent of older women can’t pass this money quiz

Prince Charming has left the building ladies…those fairy tales we grew up with convincing us that we’d be taken care of by men were fiction!  Many of us are on our own.  We can improve our financial and investing skills at any age – life is for learning!

Only 18 percent of older women can pass a retirement literacy quiz, but that doesn’t necessarily indicate that women aren’t financially savvy.

Source: 80 percent of older women can’t pass this money quiz

5 common financial struggles faced by people over 60

Daily Money Management can include troubleshooting for these and other financial related matters.  Please consider asking for help (or advising a friend or relative to ask for help) if needed.

An analysis of consumer complaints filed by people 62 and older shows that many seniors are struggling with debt, reverse mortgages and other aspects of their finances.

Source: 5 common financial struggles faced by people over 60