Planning your own retirement can be challenging enough, but when your parents reach an age where they no longer can handle their finances, you may need to step in and help out. Seniors often need some help with money management in order to take care of their finances correctly and to have plenty of money set aside to pay for medical costs and other needs. Have the Discussion It is important to sit down with your elderly parent and discuss their finances. Certain things like managing the bills … [Read more...]
Helping With Elderly Parents Finances
Caring for your elderly parents finances can be a tricky situation. Having the conversation with them about paying their bills and saving money in savings accounts, money market accounts, or cd accounts is not going to be easy but there comes a time when you do need to take over. Seniors are constantly targeted for fraudulent investments and many times their trusting nature and poor memory can lead seniors to lose thousands or hundreds of thousands of dollars. Power Of Attorney It is important … [Read more...]
