But just how much assistance can you give them without adversely affecting both them and yourself? Potential risks of helping your family financially include denting your retirement income, risking your credit rating, impacting family relationships and facing tax implications. That doesn’t mean you should never help out a family member when they are in need. [...]
Archive | April, 2011
Centennial Financial Advisor: Tax Season Preperations
The government has even pushed back tax day this year to April 18, 2011, because of the way the weekend falls and because of Emancipation Day, a holiday celebrated by Washington, D.C., on April 16. If you haven’t already, you’ll now be able to put away the files, receipts and other documents you brought out [...]
Centennial Retirement Advisor: The Cost of Health Care
Health care costs can greatly impact your retirement finances. A 2009 study from the Center for Retirement Research at Boston College found that 47 percent of middle-income adults and 42 percent of high-income adults are at risk for a lower standard of living in retirement. Those rates would be even higher if they took health [...]
Denver Retirement Advisor: Mistakes in Retirement Budgeting
Retirees typically underestimate their cost of living by $400 to $500 per month, according to Benjamin W. Pearce, author of the book Senior Living Communities.While many may save what they think is enough for retirement, by the time they reach their “golden years” they quickly learn that those estimates weren’t on target. Often, small overlooked [...]
Centennial Retirement Advisor on Women Saving for Retirement
by Jordan Dechtman
Sixty-eight percent of women and 62 percent of men said they were determined to save more money in 2011, according to TD Ameritrade’s annual New Year’s Resolution Survey. With one-third of the year already gone, it’s time to take a look at your financial resolutions and see if you are still on track. Have you [...]