Financial elder abuse – defined by the National Committee for the Prevention of Financial Elder Abuse as the illegal or improper use of an elder person’s funds, property or resources – can take numerous forms and will cost seniors billions of dollars each year. Its impact on an elder person’s emotional, physical and financial health – and thus longevity – can be significant and long-lasting. To help protect an aging loved in your life, consider starting on the following six steps.
The government’s massive COVID-19 and economic relief package – the CARES Act, which was signed into law in March – contained some significant measures to encourage immediate charitable giving to nonprofits. These included revisions to the Internal Revenue Code intended to provide additional tax benefits to taxpayers supporting charities.
What programs in the government’s enormous coronavirus and economic relief package – the CARES Act, which went into effect at the end of March – apply to you, your financial goals this year, and your longer-term plan? How do you even begin to get a handle on everything in the law, or at least what’s important to you?
Is recent stock market volatility bugging you?
Do you wince with every headline announcing the expansion of quarantines, knowing the market will likely panic?
As a kid, if you get $20 from your parents the world opens up and the possibilities seem just endless. Candy bars, apps, the latest “it” thing and so much more can be yours. You pull out your spend, save and give jars and plop that crisp bill right into the spend container.
It never feels great to see the stock market drop, especially by a lot, and then watch as your portfolio’s value falls with it. Fear, frustration, anger, anxiety, helplessness – each is a totally understandable and even appropriate response. But all circumstances, no matter what part of life they touch, come with context. And nothing about the context surrounding current market events happens to change what you can and cannot control.
Given the volatility in the financial markets beginning the week of February 20, 2020, it’s helpful to review the state of the U.S. economy entering into this stressful period, what’s happened since, and some of the potential economic impacts. Here is our take on those topics.
One of the best gifts you can leave your heirs is education about money in general and your financial affairs specifically. This can include passing along your ethics and values.
We often let things go, even to our detriment, to avoid offending someone. This fear of offending can keep you in a bad relationship, keep you from making progress in your career or keep you from making sound financial and investment decisions.
Allan Rufus, in his book, “The Master’s Sacred Knowledge,” says, “Life is like a game of chess. To win you have to make a move. Knowing which move to make comes with insight and knowledge, and by learning the lessons that are accumulated along the way.”
“Look before you leap” was a bit of good advice I received from my dad as I ventured into college, a career, marriage, life. Your own father probably once said something similar to you. It’s pretty simple guidance, but valuable in its wide applicability.
Congratulations! You landed a new job. Whether you’ll be stepping into a similar role just at another company or embarking on a completely new career, understanding some beyond-the-salary financial implications of your new gig can make the switch a lot easier.
