Category: Family and Relationships

Family and Money: Tips for Discussing Finances With Your Loved Ones

While the focus at family gatherings should be on love, catching up, food and celebrating, holidays may be the only time to have face to face time with your children, parents or siblings. And, it may be a rare opportunity to talk about important financial matters. Talking about money may be one of the most…

social security strategy

Social Security Strategies: 15 Easy Tips for Making the Best Decisions

Signing up to start Social Security is simple. However, finding the right Social Security strategy for you can be complicated but VERY worthwhile. Here are 15 tips for making the best Social Security decision: Social Security Strategies For Almost Everyone 1. Delay the Start of Benefits for As Long As Possible This Social Security strategy…

divorce after 50

Divorce After 50: Don’t Let ‘Gray Divorce’ Ruin Your Retirement

Gray divorce — divorce after 50 — can really cramp your retirement lifestyle. When you say ‘I do,’ your personal finances may not be the first thing on your mind. But the truth is, couples who get married and stay married have benefits that single people simply don’t, such as being able to split up…

Podcast: Cameron Huddleston — Mom and Dad, We Need to Talk

Episode 28 of the NewRetirement podcast is an interview with Cameron Huddleston, an award winning personal finance journalist and author, about her experience planning for and caring for aging parents. Her work has appeared in Kiplinger’s Personal Finance, Business Insider, Chicago Tribune, Fortune, Huffington Post, Money, MSN, USA Today and many other publications. A mom…

Empty Nest

Empty Nest? Why It’s Still Not So Easy to Fill Up Your Retirement Nest Egg!

So, what type of empty nest parent are you?  Are you: Super proud that they are setting out on their own? Still supporting them financially? Relieved and happy to have more time on your own? Sad and lonely that your children have flown the coop? Guessing that they’ll be back shortly? Shrewdly calculating how much…

The Retirement Calculator for Married Couples (or Any Couple)

Retirement planning is complicated.  Retirement planning when you are married — or part of any kind of committed couple — is doubly complicated.  You need to use a retirement calculator for married couples.  Or, a retirement calculator for couples. When you are part of a couple, there are literally double the financial considerations. Furthermore, your…

family and retirement

Family and Retirement: 5 Reasons Why Your Loved Ones Might Be a Major Risk to Your Retirement Security

Saving for retirement can be an incredibly difficult task, especially when your path is filled with hurdles such as job loss, rising inflation and debt. One obstacle you may not think about is your own family. Juggling family commitments makes it hard for many adults to save for their own financial future and forces many…

giving money to family

Giving Money to Family? Are You Handing Out More or Less than Average?

As if saving enough to pay for your own retirement isn’t worrisome enough, research from Merrill Lynch and Age Wave suggests that most people over 50 (6 out of 10 in fact) are providing financial support to family members in need — either on a one off basis or as continuing regular support.  Giving money…

retirement disadvantage

Are You Female or Married to One? The HUGE Retirement Disadvantage You Will Face

While there are lots of benefits to marriage, if you are a woman or you are married to one, you face a a huge retirement disadvantage — a significantly steeper climb toward having adequate retirement savings. A new study from TIAA estimates that in order for two recent college grads to have the same amount…

retirement planning for women

5 Secrets of Retirement Planning for Women (Wives, Moms, Daughters)

Retirement planning for women — wives, daughters, mothersBoth women and men continue to save money for retirement in their 401(k)s at the same rate, but due to many factors, women — you, your wife, your daughter, your mother — are less financially prepared for retirement than men, according to recent research from Aon Hewitt. Of…

straight talk

4 Reasons Why Straight Talk About Retirement Can Give You a Better Future

It’s taboo. It’s not polite. It’s personal. These are all things you’ve probably heard when it comes to talking about money. Keeping your lips sealed about your personal finances is pretty common, but your financial future may be in jeopardy if you’re not willing to have a straight talk about retirement planning. Straight talk about…

grandparents

7 Facts About Grandparenting from Leslie Stahl’s New Book

Lesley Stahl knows a lot about a many different things.  As a long time journalist — most notably for “60 Minutes,” she has covered Watergate, President Reagan’s assassination attempt, the Gulf War and many of the historic events that have shaped our world. However, of everything she has experienced in her life, becoming a grandmother…

Expert Interview Series: Multi-Generational Households in Retirement

Have you ever considered living in a multi-generational home? According to the U.S. Census Bureau, a multi-generational family is defined as “those consisting of more than two generations living under the same roof.” If you enjoy being around family and you’re planning for retirement or nearing retirement age, multi-generational living might work in your favor.…

Christmas or Retirement

Christmas or Retirement? Put Your Holiday Spending in Perspective

The holidays are right around the corner, and while that involves the excitement and cheer of family get-togethers and festive parties galore, for many it also means the financial stress of buying presents for their children. The majority of parents spent more than they intended on their kids during last year’s holiday season, according to…

multi generational

Seniors Are Learning Technology from Younger Generations

There’s something powerful about knowing that it’s never too late to learn something new. It can be as simple as putting yourself out there and welcoming new experiences. Want an example? Saffron Cassaday, Director of the Cyber-Seniors Documentary, has inspired a national campaign called Connecting Generations. Her campaign looks to connect young mentors with older…

eldercare

40.4 Million Americans Provide Unpaid Eldercare — At a Huge Cost to Their Own Finances

Do you provide care of an older relative or parent? If so, you’re probably among the 40.4 million Americans who provide unpaid eldercare. Eldercare providers are defined as those provide unpaid care to someone age 65 or older. This population typically needs care because of conditions related to aging, and can range from providing household…

The Costs to Your Retirement for Being a Caregiver

Caregiving takes an emotional, physical and financial toll. Whether you are caring for an aging parent, your own child or both, here are articles and resources to help you with the burden. Here are some caregiving resources: The Family Caregiver Alliance Caregiver Action Network Information on Cargiving from the U.S. National Library of Medicine Caring.com’s…