It’s a great luxury in life to be in close proximity to our closest friends and family. Unfortunately it seems that in this day and age people move around more than in the past and it’s getting harder and harder for people to see their loved ones. This time of year it’s especially important to many people to be able to gather with their friends and family over the holidays. And there’s a new trend that many are adopting to make sure that they can indeed be surrounded by loved ones.
The trend? Software that allows you to see anyone with the same program and a camera that connects to their computer. The most popular of this software is Skype – and Apple’s FaceTime and Google Chat aren’t too far behind. As an article in the New York Times recently pointed out, these types of programs are allowing parents in the military that are stationed overseas to be able to read a bedtime story to their child, they are allowing best friends who live on different coasts to have their morning coffee together and giving elderly grandparents the opportunity to be in the room with their grandchildren on a holiday even though their in different cities.
Have you tried Skype or similar programs before? Do you think it can be a good solution to not being able to spend the holidays with your friends and family?
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Sometime it’s the barber, sometimes it’s the nail technician, but it seems that now more than ever, the financial advisor is the public’s new psychologist! In a recent study conducted by Fidelity Investments, it was found that more and more financial advisors are finding themselves having to counsel married couples who are having arguments over retirement planning. One major issue that couples argue over the most is how to budget correctly. Many times one spouse’s opinion differs from their spouse’s when it comes to how much money they need to save. The study also found that men tend to make fast decisions with their money while their wives like to take time to research the options. These types of differences can cause a serious need for heart to heart with someone.
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No happily married couple wants to think of the possibility of getting a divorce, but this is something that everyone needs to think about to protect their assets. Think about it – would you want your ex to inherit your retirement funds?! This can be taken care of by revisiting the beneficiary designations on wills and retirement accounts and appropriately updating them.
You and your spouse have been together for ages now. You’ve raised children and been together through thick and thin. Retirement will be nothing but simple and delightful. Well think again! There seems to be quite a large disconnect between couples and their retirement. Not only are people realizing that their spouses’ views of retirement may be a little bit country and theirs is a little bit condo-in-the-city, they are also beginning to realize that their views on when to actually retire also differ. In a study released today by Fidelity, it was found that 62 percent of preretirement couples disagree on when to stop working. And a whopping 73 percent of pre and post retirement couples can’t even agree on if they have a detailed retirement-income plan!
Think that providing financial support for your kid ends when they turn 18? Think again! In an new survey conducted by the National Endowment for Financial Education (NEFE), it was found that 59% of boomer parents have given their adult children financial assistance. This includes help with big expenses like housing and insurance costs, down to putting gas in the car or shelling out some dough for spending money.
There comes a time in every child’s life when their parents begin to age and somewhat of a role reversal begins to take place. As parents get older, tasks like managing finances may become a little too difficult or overwhelming. So as a child, what do you do? Helping your parents with their finances may be a little trickier than anticipated. Think about it – the child (no matter if you’re 40), is asking the parent to open up their checkbook and let them take over a very significant part of the parent’s life. Some experts advise that if you want to avoid conflict, whether it be resistance or embarrassment on either side, ease into the process.
