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SIMPLY IN THE NEWS

Autopilot investing: The pros and cons of target-date funds

9/10/2018

 
Adrian D. Garcia @adriandgarcia
September 10, 2018  in  Investing

Anchiy/Getty Images

A growing number of Americans skip the opportunity to play Wall Street tycoon, opting to put their investment portfolios on autopilot instead. Read more.....

A Growing Number of People Are Navigating Retirement Alone. This Woman Is Spearheading a Movement to Change That

7/18/2018

 
By Elizabeth O'Brien
July 18, 2018

Carol Marak helped her aging parents for a total of six years, frequently driving the 125 miles between her home in Dallas and theirs in West, Texas, to shop, clean, cook and do other tasks for them. Read More....

Getting Older Without FamilyAddressing Personal, Legal, and Financial Concerns

7/18/2018

 
By  Sidney Kess, JD, LLM, CPA, James R. Grimaldi, CPA, James A.J. Revels, CPA and Elizabeth Forspan, JD
July 2018


The American Association of Retired Persons (AARP) projects that by 2030, approximately 16% of women will be between 80 and 84 years old and childless (Donald Redfoot, Lynn Feinberg, and Ari Houser, “The Aging of the Baby Boom and the Growing Care Gap: A Look at Future Declines in the Availability of Family Caregivers,” Insight on the Issues, AARP Public Policy Institute, August 2013, http://bit.ly/2rZDYS8). What are elderly persons who are without children or other family to serve as caregivers supposed to do? This article outlines some practical issues to consider, along with legal and financial matters for those who are fortunate enough to reach their 80s and beyond. Read More....


4 types of financial helpers: which is best for you?

8/30/2017

 

CreditCards.com
By: By Brady Porche

January 4, 2017 - Whether facing a mountain of debt, a flurry of tax papers or just needing budget advice, there’s someone out there who can lend a helping hand. But with all the different types of financial professionals out there, sometimes it’s hard to figure out just who can help with what.

Financial practitioners can assist people with just about any money situation. The specialties of these individuals can overlap, and some folks fill more than one role, so it’s important to know who to call when you’re in need. The four types of financial helpers listed below cover a lot of bases. 

Daily Money Manager Read more....

New-financial services for seniors

6/28/2017

 
CHICAGO TRIBUNE
By Community Contributor brucebrown91


Deerfield, Illinois - June, 2017 - A growing professional field known as Daily Money Management is becoming more and more prevalent across the country. Daily Money Managers help individuals and families with their personal paperwork. This may include bill paying, checkbook balancing, filing, organizing and budgeting, as well as submitting and tracking medical insurance claims. Many Daily Money Managers provide either social support services or local referrals to such services. Read More.......

Daily Money Management Programs for Seniors - NOLO

9/1/2016

 
Daily money management (DMM) programs provide personal financial assistance to older Americans who can no longer handle certain aspects of money management. Whether an older person needs comprehensive help or just a monthly reminder to pay bills, these programs can mean the difference between living independently and residing in a nursing home. DMMs also offer relief to family members who are providing care to their older parents or relatives. (For more tips on how to assist an elderly relative with their finances, see Nolo's article Helping Elders Manage Money & Finances.) Read More...

Need Help Managing Day-to-Day Finances?

7/1/2016

 
AARP.org -

A daily money manager can help you with common financial tasks such as paying bills and readying tax documents.

Imagine having someone who makes sure your bills are paid on time, organizes your tax documents and hands them off to your accountant, and even follows up with your insurance company because you were supposed to be reimbursed for physical therapy.

Get money and investment savings tips in the AARP Money Newsletter

Sounds too good to be true?

It turns out, you don't have to be wealthy to hire a trusted professional to take care of these kitchen-table money issues for you.

Engaging a daily money manager (also known as a DMM) can be a cost-effective way of making sure your financial life is in order.

Read More..

Caring for Aging Parents - 3 Professionals to Consult

3/27/2014

 
More Americans are living longer.  What happens when an aging parent can no longer care for themselves? Oftentimes, if arrangements have not already been made, their children step in and take responsibility for them. Here are some interesting facts from AARP:
  • This is the first time in history that American couples have had more parents than children.
  • Today, the average American woman can expect to spend 18 years caring for an older family member, compared to 17 for her children.
  • Almost 40% of all U.S. workers are more involved with caring for a parent than a child.
The odds are high that someday you may be required to care for an aging parent at some point.  It can be hard to know when your parents need help because, often times they will not ask for it. They may not want to be a burden or they feel as if they’re imposing. Before jumping in, you should consider the following:
  • How much help is needed?
  • If siblings are involved, do you divide and conquer? Geography is a factor when most are not in the same location or town.
  • What are the costs involved?
  • What type of care is needed?
  • Do they have any Long Term Care Insurance?
Once the above questions are answered, you are able to draw a clearer picture of what and who needs to be consulted, such as: an attorney, a certified financial planner and a daily money manager.

Attorney:
It is important to remember if you are going to begin to take on the responsibility be sure you consult with an attorney to establish decision making authority so you are able to make the care decisions. 

Certified Financial Planner:
You should also consider consulting with a certified financial planner to establish a good working picture of your parents financial status and available funds for payment of care. 

Daily Money Manager: Another professional to consider is a Daily Money Manager. They can take care of your parent's day-to-day financial concerns are provide a report of bills paid, financial events (keep track of important papers and renewals vital of insurance policies) as well as provide a second set of eyes on bank accounts to catch unnecessary fees and prevent identity theft.

Every family is different and the needs for caring for an aging parent are ever changing.
The key is to be proactive and be knowledgeable about your options.


    Page Maintained by: Jennifer Shulman

    Jennifer is committed to helping her clients as well as other folks improve their daily financial circumstances by providing simple financial solutions.

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  • Home
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