Supporting aging parents
As you might be in a position to financially help your adult children, you could also find yourself helping your aging parents with money. Whether it’s about covering medical expenses, assisting with living costs, or simply keeping them in your home, it’s still financial aid.
If that’s something that deeply bothers you, it’s mandatory to communicate openly and honestly with your parents about their own financial situation and create a proper plan together. You might also want to look into the various resources available for elderly care and support.
Inflation
Even though it may not seem like a significant expense in the short term, it could have a great impact on your retirement savings in the long run. To deal with inflation, you need to make sure your retirement savings are invested in assets that have the potential to grow and keep up with inflation. You want to consider all your options, from working part-time during your golden years to having multiple income streams.
6 Responses
The worst cost is the ridiculous property taxes that the blue states have! NJ is the worst. That is a total waste of $$$!
Do not move to Palm Beach County in South Florida…..everything is more expensive insurance, both car and homeowners; higher rates than NJ!! HOA monthly fees are through the roof, entertainment, parking, food ..they are trying to gentrify the county for only the rich…; something Miami, Ft. Lauderdale and the like have been doing for years!!! Unless you have lots of $$$$…it’s not your “grandparent’s retirement ….and be most wary of your healthcare!!!
I will sell my house in a split second. Worst decision I ever made was buying a house. Even though I have a low interest rate, I am sick and tired of being nickel and dimed to death with fees by my mortgage company.
Curious on how your mortgage company can charge you more fees since owning the house.
Did you apply for an equity line credit, or refinance the mortgage? My experience has been when I closed on my house, there weren’t any more fees other than what I agreed to pay each month.
I couldn’t read the rest of the article because I couldn’t find it among all of the obnoxious ads. I hate websites like this. One or two ads is fine but when there are so many, you have to scroll down six times to find the rest of the article and even then it’s not there. And then there’s the ones that are popping up in your face every few seconds. Not returning to your website.
and don’t forget the cell phone bills, internet, with the added protection against hackers, theft protection,
theses are things we never paid for when using checks, and landlines,
and warranties add up,
and just look at all the taxes on bills and fees, might be small but they add up