The key for older people managing money, whether or not their kids are involved, is to make sure they don't outlive their savings. Image courtesy of Flickr user 401(K) 2013.
Paul Solman frequently answers questions from the NewsHour audience on business and economic news on his Making Sen$e page. Friday's come from readers at Next Avenue. The NewsHour has partnered with Next Avenue, a new PBS website that offers articles, blogs and other critical information for adults over 50.
Patricia M. Bellace: Virtually every column that I read regarding money management of (or for) older people (whether it's about estate planning, how the adult child should "talk to" the parent about assets or how the parent is planning to manage their finances in retirement) assumes that the older adult has children.
NextAvenue
I don't. I know other men and women my age who do not have children. What money management, retirement management and estate management issues should a childless older adult consider as part of his or her planning?
(Separately, I know other older adults my age who wouldn't begin to trust their adult children with their finances for very good reasons!)
Paul Solman: If you don't have children or, even if you do and don't care about leaving an inheritance to them (or to anyone else), money management reduces to a simple question: will you have enough to see you through your remaining years?
Continue at:
http://www.pbs.org/newshour/businessdesk/2013/11/financial-immunization-against.html
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