Helping Your Loved Ones Prepare for Retirement

Most families today are struggling to initiate the conversation to their aging loved ones. It’s important to make their finances your business, particularly now that people are living much longer and will most likely require long term care due to old age, disease or injury. Don’t wait to start “the talk” until it’s already too late and your loved ones are already suffering from debilitating illness or begin to lose control of everyday finances. 

Here are some tips that can help you initiate the conversation:

1. Finding the missing link
2. Schedule a family financial meeting
3. Locate important documents and accounts
4. Consider seeking financial counseling
5. Make and agree on a plan

By helping your loved ones create a retirement plan, you can help ease the stress and financial strain on everyone who is involved.

Source: http://www.huffingtonpost.com/jason-alderman/making-sure-loved-ones-ar_b_6753064.html