September 6, 2016
Retirement Planning While Caring for Aging Parents
Taking aging parents into account when creating a long-term financial plan is important for pre-retirees. More baby boomers are finding themselves supporting parents who have outlived savings.
"Thanks to welcome advances in medical care, people are living longer. That means more and more Baby Boomers are finding themselves helping their aging parents financially as they outlive their savings." As Dara Luber writes for The Street, "If there's a chance you'll need to help your parents during their retirement, it's important to understand their financial picture now and in the future and incorporate that into your own retirement planning. Having a conversation might seem a bit intrusive at first, but remember that it's in everyone's best interest." Luger provides a list of questions to guide the conversation. See: https://www.thestreet.com/story/13689454/1/keeping-up-with-retirement-planning-while-caring-for-aging-parents.html
Posted by Financial Planning For Women at 9/06/2016