Keep Clients from Becoming Squeezed As Part of the ‘Sandwich Generation’

Your clients have worked hard all their adult years, raising children and changing careers with the times, while aiming toward a great retirement. But perhaps a family elder is increasingly in need of assistance, financially and otherwise, because she’s nearly outlived her retirement nest egg. And so, your clients invited her to live with them…. Read More »

Beware the Risks of Reverse Mortgages

Originated in 1961 in Portland, Maine, reverse mortgages allow people 62 and older to borrow money against their home’s equity and not pay it back until they move out or die. And when President Ronald Reagan signed the FHA Reverse Mortgage bill into law in 1988, it signaled the true modern era of reverse mortgages…. Read More »

Having the Big (Financial) Talk with Parents

Your client’s parents have been there for their children all their lives. Now that they’re nearing retirement age, it’s time to return the favor — especially when it comes to their financial well-being. CNNMoney suggests families should talk about their elders’ finances when the parents turn 70 or the children turn 40 (http://tinyurl.com/3hp63tr). Other experts… Read More »

A Niche in “Modest” Families?

I recently read a New York Times article that explores the possibility of focusing a financial planning practice on what the author called “modest” retirement accounts. (http://tinyurl.com/av5lvw9) Of course, what quantifies as “modest” assets to one person could be seen as “great” wealth by another. For Baby Boomers, the market crash and recession couldn’t have… Read More »

Key to Stopping Family Fights on End of Life Issues: Be as Specific as Possible

One of the biggest challenges we have as advisors is making sure our client’s wishes are honored at the end of life issues. While simple on its face, there are two complexities we face in advising families. First, medical breakthroughs may provide tougher decisions for families to make. For example, will a new drug or… Read More »

Money Managers Cut Worry for Seniors

It’s tough enough for many adults to keep track of their bills, but it can be especially hard for those in their retirement years. Failing eyesight and hearing, coupled with arthritis-stricken hands and fading memory, can make keeping track of everything a Herculean task for many seniors. That is especially true if there are no… Read More »

Your Client Could be Asked to Sign Arbitration Agreement by Nursing Home

It’s hard enough to make the decision that an elderly loved one must move into a nursing home. During admission, your client’s family is given stacks of papers — “Just sign here,” they are instructed— and, under stress already, many families sign without closely reading the documents. Increasingly, one of the papers nursing homes include… Read More »