finances

Know the Best Ways to Protect Your Money? Find Out at Money Smart Week

Posted on 04/22/2013 by | All the news that matters for Illinoisans over 50. | Comments

Your LifeLooking to boost your financial know-how?  Join AARP Illinois and more than 40 area organizations hosting free, educational events throughout the Chicago area and across the state during the 2013 Money Smart Week  (April 20-27). AARP Illinois members are invited to join volunteer Nathan Fuchs, a former trial attorney for the Securities and Exchange Commission and an Assistant District Attorney in New York in the senior fraud prevention unit, along with experts from the National Futures Association, the Commodity Futures Trading …

Veterans Aid and Attendance Benefits Can Help, But Process Difficult

Posted on 11/12/2012 by | Multigenerational & Family Issues | Comments

Caregiving | Home & Family | Money & Savings | Your LifeWhen I first started investigating the Veterans Administration’s Aid and Attendance and Housebound Benefits program for my Dad, a decorated WWII Veteran who earned the Bronze Star while serving in Italy with the 10th Mountain Division, I was excited to learn that he might qualify for some financial assistance to help with the cost of his care. Aid and Attendance is an enhanced or special monthly pension program for certain veterans who require care. Dad has developed Alzheimer’s disease and …

Study: Grandparents Give ’til it Hurts

Posted on 09/8/2012 by | Multigenerational & Family Issues | Comments

Home & Family | Money & Savings | Relationships | Your LifeAs a consultant and expert in aging and family issues with more than 30 years experience working with grandparents, I recently had the great pleasure of writing a report for the MetLife Mature Market Institute in conjunction with Generations United. The report, “Grandparents Investing in Grandchildren: The MetLife Study on How Grandparents Share Their Time, Values, and Money,” indicates that today’s grandparents continue to provide care for grandchildren, offer advice and moral support, and provide financial assistance – sometimes to …

Study: Boomers Give Up Savings to Help Parents, Kids

Posted on 05/8/2012 by | Multigenerational & Family Issues | Comments

Caregiving | Home & Family | Money & Savings | RelationshipsBaby boomers are selfless? Apparently many are, according to a new study by Ameriprise Financial. The financial group’s recent study, Money Across Generations, polls three generations: affluent baby boomers (with $100,000 or more in investable assets) along with both the parents and the children (over age 18) of baby boomers. New findings from the study indicate that baby boomers are holding off on major purchases and instead of channeling those savings into retirement accounts to support their Gen X and …

2012 Changes May Hurt Older Americans Who Support Charities

Posted on 12/7/2011 by | Giving & Volunteering | Comments

Money & Savings | Volunteering | Your LifeIf you give to charitable organizations, you definitely want to read this post. There are some important changes being made to how some charitable contributions are treated that can potentially affect you. Two main areas to be aware of relate to IRAs and Charitable Gift Annuities. IRAs It is unclear right now if the IRA charitable rollover law will remain in place in 2012. What this means is that unless Congress intervenes people over the age of 70½ who are …