As a child, one of the hardest things to watch is your parents aging process and the issues that they have to endure with their health and many other things. One issue many elderly individuals commonly fate is struggling with their finances. Elderly individuals are often taken advantage of by investment advisors and many others that do not provide them with the proper type of services that they need in order to manage their money correctly. Sometimes they deal with investment advisors that put … [Read more...]
Start your financial resolutions on June 1st!
Do you want to know why New Year’s resolutions don’t work? Because the New Year starts in January -- when it is cold and you are broke. January is a time when you need to keep your spirits high and you are trying to pay off bills -- going on a diet or budget is just setting yourself up to fail.I like to start my resolutions on June 1st. All of the holidays are over. You are done blowing your diet or paycheck on a super bowl party, an enormous heart-shaped box of candy, green beer, or creamy … [Read more...]
Don’t neglect your Most Important Investment!
I have had the "money pit of doom" for 13 years, but I still love my house. Each year this 62-year old small brick house surprises me with another leak or break. From new windows, new tile, to a new sprinkler system for my yard, I have fixed up something in every square foot of my house and yard! The worst news is that I am only 2/3 of the way done! However, instead of thinking about moving to a bigger or better house, I think about how I will make my house nicer. Some people say that your … [Read more...]
What Are Money Market Funds?
Money market funds provide you with a great way to save money for your short-term or long-term investment needs. A money market fund is different from a money market account as the money in a fund will be used to invest it into low-risk securities. Why do many people turn to money market funds when they are looking to grow their money? The biggest reason is due to the low-risk investment that these funds provide you with but the downside is that they are not backed by the FDIC. Money Market … [Read more...]
Is A CD Or Money Market Account Better For My Elderly Parent?
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...]
