Half of American parents are risking their retirement savings to help support adult children, according to a recent survey. A poll conducted by Bankrate.com asked parents: Would you say you have sacrificed or are sacrificing your retirement savings to help your adult children financially? Fifty-one percent of respondents said, yes, they were jeopardizing their retirement […]
Signing kids up for extracurricular activities could bring them extra income someday. Or at least, eight in 10 parents in a new survey are hoping — especially considering that two-thirds of them have gone into debt to pay for those soccer, ballet, painting and piano lessons. CompareCards.com surveyed more than 700 parents with young children […]
TV commercials label reverse mortgages simple fixes for elderly homeowners needing cash – a financial easy button. Sorry, there is no such thing. Yes, reverse mortgages can be attractive. Folks older than 62 can unlock cash from their home without selling. They can simply draw monthly income, a line of credit or lump sum from […]
Parents are responsible for taking care of their children, and that means emotionally, physically — and financially Opens a New Window. . But how old is too old to be receiving money Opens a New Window. from mom and dad? A new Bankrate survey on financial independence looked into the average age Americans think individuals […]
When it comes to teaching kids about money, the super rich are different from average Americans. But it’s not only about the amount of wealth they have. It’s also because money is something that many of them would rather not talk about, said Rich Morris, co-author of the book “Kids, Wealth and Consequences.” “For the […]
Separating from your spouse can mean suffering a heavy emotional and financial toll. You may be wondering how to protect your 401(k) in a divorce. Fortunately, there are plenty of ways you can protect your retirement savings during a divorce. As you explore your options, you might also want to find a financial advisor who […]
Carl Nassib may earn a nice paycheck as a defensive end for the Tampa Bay Buccaneers, but he certainly isn’t living the high life. His rules are simple: Live below his means and put money away for the future by using investments readily available to average Americans. Younger people “have a much larger time span […]
Think only young people need to establish great credit scores? That’s understandable. Credit cards are marketed to college students looking to work toward financial adulthood. The thinking is that folks in their early 20s can prove their ability to handle credit responsibly, and sail on from there. But retired people also need to make sure […]
Many people nearing retirement and craving warmth think of Florida. Yet some destinations offer even more idyllic weather — if you’re willing to look beyond the U.S. A new report by International Living, a guide to retirement abroad, ranks destinations where you might think about spending your later decades by their weather. Of course, not everyone […]
If you want someone to look after you in your golden years, here’s some financial advice that is probably going to get some people upset. Don’t have children. Just buy long-term care insurance. It’s a lot cheaper. And you have some assurance it will actually turn up when you need it. Every state has an […]
Is buying a home Opens a New Window. always better than renting? Should you close credit cards Opens a New Window. after paying them off? If your answers to both questions are yes, you believe some of the most common money myths. April Lewis-Parks, director of education and corporate communications at Consolidated Credit Opens a […]
If you thought the Bank of Mom and Dad closed its doors after the kids have grown up, think again. The average cost of raising a child to age 18 is estimated to be $233,610, according to the U.S. Department of Agriculture. The expenses continue long after your child has entered adulthood. Half of parents […]
