[ad_1] If the onus is on you, here’s a primer on where to start. Even if you have financial power of attorney—an important tool—you have some work ahead of you.  In the best possible scenario, your parents or other loved ones will have good records of all their income, recurring bills, income sources, bank accounts,… Continue reading 4 Tips to Help Aging Parents Manage Their Finances

[ad_1] Nearly a third of American adult workers say they would need $1 million to retire comfortably. Brokerage firms such as Fidelity and T. Rowe provide benchmarks to help clarify the path to retirement. You may be able to contribute to your retirement beyond your employer maximum to meet the IRS limit, CNBC FA Council… Continue reading Here’s how to tell if you are behind on retirement savings

[ad_1] Retirement Oct 15, 2023, 7:01 am EDT Share Reprints Aging parents or relatives need more help managing their  finances.  Continue reading this article with a Barron’s subscription. View Options [ad_2] Source link

[ad_1] Dear Liz: My wife recently received from the Social Security Administration a notice of “Potential Private Retirement Benefit Information.” It cites a 401(k) account with a previous employer with a relatively small balance and states the “year reported” as 1992. My wife does not have any recollection of ever cashing out this account. Should… Continue reading How to find your unclaimed retirement benefits

[ad_1] Mark Reilly from the KBG Chartered Accountants firm in Cavan said the changes for small businesses announced in this year’s budget will “make us uncompetitive”. The financial advisor was talking about the government’s idea to increase the national mimimum wage by 12 and a half per cent, from €11.30 to €12.76 and increasing the… Continue reading Local financial advisor claims Budget poses threats on small businesses

[ad_1] The 60/40 portfolio is an important investment strategy for the average investor. Inflation and higher interest rates have stressed it. The strategy is still sound but perhaps needs tweaking, one expert said. Cravetiger | Moment | Getty Images The 60/40 portfolio — a cornerstone strategy for the average investor — has been stressed by… Continue reading The 60/40 portfolio ‘certainly isn’t dead,’ says senior wealth advisor

[ad_1] MoMo Productions/Getty Images Family trusts are one of the many ways to transfer generational wealth. They are used to ensure your family members can inherit the things you own quickly and easily after you die. They are highly customizable and depending on how they’re structured, they may carry other benefits too, such as shielding… Continue reading What Is A Family Trust And How Do You Set One Up?

[ad_1] Miguel Ramos remembers when a woman from the Hispanic community finally got comfortable talking with him about her finances, after previously feeling closed off to other advisors.  “She never felt comfortable with another advisor, and it was partly because of the language barriers,” he said. Ramos, a Minneapolis-based advisor with wealth management firm Thrivent,… Continue reading Hispanic wealth could reach $113T — how advisors can tap in