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…
Family and Relationships News, Information and Guidance
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…
Your adult children want to help you as you age. However, they need you to be open to giving them details about what’s to come, according to the Fidelity Investments Family & Finance Study. The study also found that whether you think you are communicating or not, the kids are not hearing you… (Alas, some…
Once you have solidified your own retirement plan and have saved enough, you may find yourself wanting to help your grandchildren. You might want to lessen their financial burden by paying for college or reward them for meeting various goals. 1. Gifting Giving money is one way to help your grandchildren. If you are in…
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…
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…
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…
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 expenses and having two (or more) sources of income. However, not everyone stays…
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….
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…
