To help you decide what kind of financial advice is best for you, see if your situation is similar to this hypothetical client:
A 36-year-old makes as much as $130,000 in a day, yet still lives at home. He buys sandwiches late in the afternoon to save 75¢. He organizes his life around commuting only in cheaper, off-peak hours.
LAKE MARY, Fla. – Studies show nearly 10-million adults are caring for their aging parents — a number that is sure to increase as the population ages.
Many of these children are being put in positions they were ill prepared for, unaware of mom and dad’s financial standing. Many are finding insufficient funds for what could be the most expensive years of their parent’s lives.
NEW YORK (MainStreet) — Here is what you could do on today: go to a nearby bank, stand in line, deposit your paycheck, and ask the teller to give you $100 cash back, in a mix of 20s, 10, and 5s.
Managing your money may be your own responsibility, but there are some times and tasks that require the attention of an expert. Even if you don’t rely on a financial professional to oversee your finances on a regular basis, seeking the advice of an expert can be crucial for navigating certain situations successfully.
Once their child is born, parents are often bombarded with literature and advertisements touting different methods to save for college. And with the promise of guaranteed rates of return, cash-value life insurance policies are often pushed to eager, college-planning parents.
The woman, in her early 60s, suffered from dementia and was receiving home care. But her condition was deteriorating and the time for moving her to a nursing home was drawing near.
Her husband was paying the home-care costs out of pocket, but worried that the expense of a nursing home would quickly deplete the $700,000 in joint savings they held outside of qualified retirement accounts. He sought guidance from Carlos Dias, Jr. of Orlando, Fla.-based Excel Tax & Wealth Group, which manages $25 million for 150 clients.
Living beyond your means is pretty easy to do these days, especially since we live in a time when buying on credit — and having a YOLO mentality — has become the norm.