Free Financial Advice? What’s Not to Like?

Need financial advice on estate planning, retirement savings or something else? You can get it for free. From Sept. 27 through Nov. 8, hundreds of financial planners will be available to meet one-on-one with people in 25 cities in an annual event called Financial Planning Days. The initiative, in its fifth year, is sponsored by the Certified Financial Planner Board of Standards, the Financial Planning Association, the Foundation for Financial Planning and the U.S. Conference of Mayors. >> 8 Hidden College Expenses Financial …

End the Year With These Fabulous Freebies

Some fabulous freebies to end the year with and ring in 2014: Free Video From Santa: Hurry! Time is running out to send the kids a personalized video from Santa via this website. If’ you’ve already sent out your Christmas cards, remember it for next year. Free 2014 Calendar: Click on the link for these free, downloadable calendars. You can customize them to meet your needs and track your schedule. Free Financial Planning Tools: Several websites like Mint, Bankrate and AARP offer free calculators …

What Old Brains? Older Proves Wiser in Financial Decisions

Old, schmold. Our brains may be getting a little slower as we age, but we more than make up for it in experience when making economic decisions, a new study finds. The study, by researchers at the University of California, Riverside and Columbia University, tested two groups of subjects – 173 younger (ages 18 to 29) and 163 older (ages 60 to 82) – on how well they understood financial information and made economic decisions. Related: Does My Financial Adviser …

Americans’ Financial Plan Is Not to Plan

Some people might prefer bathing the dog to sitting down and creating a financial plan. However, adults who take the time to develop a comprehensive financial plan are more likely to manage their money successfully, and are more confident about reaching their goals, like saving for retirement or paying off credit-card debt, according to a report released Wednesday. Unfortunately, they’re in the minority. Only one-third (32 percent) of some 1,002 people surveyed say they’ve created a comprehensive financial plan. And …

New Thinking about Budgeting for Your Second Adulthood

This is a guest post by Bart Astor. For years financial planners have been preaching that in your retirement years you should plan on spending about 70% of your current income. This number was based on a number of factors, including: You don’t need to continue to save for your retirement years You won’t be paying into Federal Insurance Contributions Act Tax (Social Security and Medicare) You won’t have commuting and work expenses Your house will be close to or already …

1 In 4 Older Adults Can’t Come Up With $2,000

The deep recession ended four years ago, but the financial fallout remains for many older Americans. Some are so strapped that if an unexpected expense like a  major car or house repair arose in the next month, more than 1 in 4 adults age 55 or older couldn’t muster $2,000 to pay for it. Tapping into their home equity for financial help isn’t an option for 1 in 12 in that age group. They owe more on their home than …