Discussing Financial Milestones as a Parent

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

It can sometimes feel awkward or challenging to talk about money and the future, especially with your children.

But if you want to help minimize stress for everyone, you may want to prioritize certain conversations.

Whether your kids are adults, teens or younger, here are a few big financial topics to keep in mind as you work to set…

By Sharon Wagner

Retired and want to work part-time? A job keeps the golden years interesting and helps older adults stretch their retirement savings. However, most retirees don’t want to head back to the office full-time. Instead, they’re looking for a part-time encore career that stimulates their mind, pads their pocketbook, and leaves plenty of free time for enjoying their senior years. But does flexible, well-paid, and interesting work for seniors really exist? You bet!…

Getting Remarried? Avoid These 4 Estate-Planning Pitfalls

From: www.barrons.com

With a rise in “gray divorces” in recent years, it’s only natural that remarriage has become more prevalent among seniors. But people tend to be lax about updating their estate plan.

It’s easy to have an estate plan fall out of date following a remarriage, says Steph Wagner, director of Women & Wealth at Northern Trust, but the…

State Rainy Day Funds and the COVID-19 Crisis

From: taxfoundation.org

Key Findings

• State revenue stabilization funds, often called rainy day funds, are better funded now than they were at the start of the Great Recession and can be a valuable tool as states face a sharp pandemic-linked economic contraction.
• The median rainy day fund balance is 8 percent of state general fund expenditures, but several states have little or no…
  
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3 Questions to Ask Before You Downsize

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Homeowners may choose to downsize for a variety of reasons. Maybe you’re tired of maintaining an older home, maybe you don’t need as much space anymore, or maybe you’re just ready for a change.

No matter the motivation, this is a big decision with many financial details involved.

Have you been thinking about simplifying and wondering if…

By Sharon Wagner

As you approach retirement age, you’re crunching the numbers and realizing you’ll be living less comfortably than you hoped in retirement. Are you doomed to pinch pennies through your golden years, or is it possible to boost your retirement income without spending another decade in the office?

If your 401(k) isn’t enough for the retirement lifestyle you’ve been looking forward to, use these strategies to grow your retirement income and put more money…

Avoid a Sweltering Hot Car this Summer

From: americanlifestylemag.com

We’ve all heard the old adage that on particularly warm summer days, it could be hot enough to fry an egg right on the sidewalk. But sometimes it feels like we could do the same right on our car dashboards, too.

Depending on where you live and how long your car has been sitting, it’s internal temperature could skyrocket to more than…

By Sharon Wagner

Whether due to choice or necessity, many adults stay in the workforce well past retirement age. Unfortunately, many of those seniors work in customer-facing professions where they’re at high risk of contracting COVID-19. Sales and service-related jobs are the second and third most common industries for older workers, with 37 percent of workers aged 55 and up employed in these sectors.

For countless seniors in customer-facing professions, the decision…

4 Security Best Practices to Consider

From: REAP, LLC. | Retirement & Estate Advisors & Professionals

Now that you may be spending more time at home and online, knowing how to keep your sensitive information and conversations safe has become even more important.

Are you following the best practices for protecting your financial details (and other sensitive data)?

Here are four steps you may want to take.

Use a password manager. Do you struggle to remember…

Seniors and Debt: How to Cope with Financial Setbacks Post-Retirement

From: www.annuityfreedom.net

Retirement is supposed to be a time to relax, enjoy simple pleasures, and perhaps check items off your bucket list, like traveling to faraway places. Unfortunately, that worry-free scenario is increasingly rare. Despite decades of working hard and saving, many seniors are finding that unexpected life events have derailed their finances. Medical or dental problems, divorce or widowhood,…