Making Wise Financial Decisions for Aging Parents

I’ve written at length about the unfortunate ‘trifecta’ which many families face when in their 50’s. This decade is typically when people really start to focus on the reality of retiring one day and having enough money to do so. It’s also a time when kids (if you have them) are in college or are nearing that expense. It’s also a time when elderly parents often need help. Offering help to aging parents isn’t always financial in nature—it can also be an increased need for time and attention which takes mental and financial tolls on you. No matter how you look at it, your 50’s are a time of financial demands, perhaps more so than any other decade. So below I’ve outlined a few financial tips regarding dealing with aging parents which can potentially save you loads of money (and stress) down the road.

Continue reading