Providing support for adult children or older family members isn’t cheap. Keep a lid on it.
In case they become incapacitated, parents need to provide financial guidance to their adult children — and keep everyone in the loop. That doesn’t mean they have to reveal everything.
Getting your adult children to think about their own retirement savings plans is an uphill battle — particularly in this lousy economy. But longevity could make it in your best interest to push them on the point. You don’t want to be 80 years old and scraping together money to help your 60-year-old child cope
Reader Lou Rose responded to yesterday’s post about retired Professor Robert Pritchard’s suggestion that Social Security eliminate penalties for working and collecting between age 62 and full retirement age. He wrote that he and his wife were working past full retirement age — 66 — in order to save at least a year’s worth of