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Catch up on some of the latest posts with this week's roundup:
Caring for Aging Parentsby Julie Ford, Ford Financial Solutions
As one’s parents get older, they’ll inevitably begin to face a variety of end-of-life issues: estate planning, living arrangements, whether skilled nursing is appropriate, when to give up driving, and others.
Below are proactive steps to take to assist one’s parents as they age and begin to face these issues.
What Are The Basics Of Social Security?
This is a topic that becomes important especially when someone is considering retirement or is already retired.
When does it make the most sense to start collecting? That really depends upon your specific situation.
In order to start receiving the full value of the benefits that you’ve accumulated over your working career, you will need to wait until age 66 or 67, based upon your actual date of birth.
Should I Use an Online Estate Planning Tool?
Estate planning is most people’s least favorite personal finance topic. It’s not just that it brings up uncomfortable thoughts of mortality. You have to get lawyers involved (and who likes dealing with lawyers!). As a result, 60% of people don’t have an estate plan. Even Prince, who was worth millions of dollars, didn’t bother to get one done.
Basic estate plans should cost anywhere from $1,000 to $3,000 depending on your needs and where you live. That sounds like a lot, doesn’t it? Especially since you hope you won’t need the plan for many, many years.
Five Common Mistakes Retirees Make
Retirement is a goal that most of us aspire to. Even though retirement is often thought of as an ending, it is more of a beginning event. Yes, you may be done working, but a new phase of life is starting. Each phase of life has its own risks and retirement is no different.
For the benefit of those preparing for retirement, I have put together a short list of common mistakes I have seen retirees make. Please take note and consider where you may go wrong and how to prevent it.