This is the first installment of the new Mature Money series, which will address financial topics relevant to seniors and those who care for them. In this article, financial expert Sheri Samotin describes the roles and responsibilities of a fiduciary and explains what you should consider when selecting one.
People who commit their time, energy, love, and resources to care for a friend or relative are also sacrificing their own future retirement income. One congresswoman has proposed an amendment to the Social Security Act in an attempt to compensate our caregivers when they need it most.
Just as you keep an eye on the physical health of your parents, you should also look for signs that they could use some extra assistance managing their day-to-day finances. Here are some points to consider when you think it’s time.