By: Jessica Kmetty
The World Health Organization notes that an estimated 47.5 million people currently live with dementia, a syndrome that affects memory, thinking, behavior and ability to perform everyday activities.* It can severely impact the ability to make financial decisions, and finding ways to help those with dementia manage their finances is critical to their health and well-being. These 5 tips can help families protect and preserve assets:
One area that is particularly critical to get right in your financial planning process is estate preparation and the protection of your loved ones from the unexpected. Proper estate preparation is an act of love and responsibility to those you care about.
If you’re like many Americans, you might be worried about how to prepare for your own or your loved ones’ long-term healthcare needs. In previous generations, elderly parents and grandparents could count on moving in with relatives when they became unable to live alone. However, today’s family dynamics have changed and many Americans are reluctant to burden their families with caregiving duties.
Financial Lessons from the Mall: Teaching Your Teens About Credit
By Jessica Kmetty
I was in Kohl’s the other day with two of my sons with the intent to only purchase a few articles of clothing for my daughter, but they happened to be having some great sales so we ended up purchasing quite a few clothing items for each of my children.
Financial Lessons from Shark Tank and Uber: Teaching Your Teens (and Maybe Yourself) About Business
By Michael J. Searcy
All the time, I hear people say, “I just don’t understand all that business stuff” and “I’m no good at business, how am I qualified to teach my children about it?” I tell them the answer could be as simple as watching some television, reading and just plain observing your surroundings. If you become more aware of business around you, you should start noticing trends and asking more questions. This is helpful for teenagers, young adults, and yourself to start THINKING about business. I am not talking about accounting statements, banking or business structure here, just a practical understanding of how things work.
By Jessica Kmetty
Do you have more patience for managing household finances than your spouse?
Do you make all of the financial decisions as the more financially savvy partner in the household?
Have you ever involved your children in a financial discussion?
Many of the important decisions we make regarding finances are made with family in mind, yet the duties for managing the finances are not always a family affair. For a financial plan to truly support an entire family’s dreams and goals, getting buy-in and tackling decisions as a family unit is essential. Here are some tips for developing a financially savvy family:
By: Michael J. Searcy
Being prepared for the unexpected may not be high on your priority list. There are people who would have trouble locating their breaker box if the power went out, the fire extinguisher if cooking dinner took a wrong turn, or the car jack if they popped a tire. However, these situations produce immediate emergencies that could easily be overcome with a little preparation. The same goes for health or other issues that may affect the financial situation of your aging parents. These 5 questions can help you when approaching your parents about their financial well-being and discussing their wants and wishes.