There are only two certainties in life, death and taxes. We are aging from the minute we’re born. The explosion in the senior market will continue to grow well into the 21st century. One of the reasons is due to the baby boomers that will be seniors. This is referred to as the ‘age wave’. Life expectancy has increased. 2030 will see 70 million people who are 65 and older according to the U.S. Bureau of the Census, the fastest growing senior segment are those over 85 and living to over 100 has increased dramatically.
The Certified Senior Advisor addresses many of the aging issues of seniors, caregivers, and the family. You can rely on the expertise of the CSA, and their professional network to provide the information necessary to give them confidence and control of their lives.
Some of the professionals that are in our network:
- Elder-law attorneys
- Estate Planning attorneys
- Insurance – can be a very important estate planning tool
- Reverse mortgage experts
- Health care providers
- Health care facilities
- Investment advisor
These are some of the issues that seniors, caregivers, and their families should ask themselves:
- Do you have enough money to retire?
- Do you have enough money to last for the duration of retirement?
- Are you financially able to maintain your home?
- Are you physically able to stay in your home?
- Do you want to be a burden to your children?
- Do you have the right team working on your behalf?
We create solutions for your concerns.
BRENDA HENDRICKSON, CSA
Brenda Hendrickson Quoted in Credit Card Guide Article, “Joining finances (and debt): What you need to know”
When you get married or move in together, it isn’t always as simple as mine and yours become ours — particularly with finances.
Brenda Hendrickson, CSA, and author of the book “How To Be A Frugal Millionaire: Eight Simple Steps to Creating Personal Wealth,” was featured in an article posted on www.creditcardguide.com.
CreditCardGuide.com, a Bankrate Inc. property, is a free one-stop credit card resource center with links to instant online applications. They also present side-by-side comparison of the best credit cards on the Internet from the top banks and card companies. These cards have competitive rates and outstanding benefits and rewards. In addition, our powerful search tools and comparison guide can help you choose a credit card that best fits your needs.
Brenda was quoted on the topic of applying for a home loan as a married couple. You can read an excerpt of the article featuring Brenda’s insights on the things people must consider when merging finances upon getting married below. The following is an excerpt highlighting Brenda’s portion of the article.
A link to the full article can be found below:
Applying for a home loan together
“When you’re deciding to get married, you have to talk about hopes and dreams of the future and how you’re going to achieve those dreams,” says Brenda Hendrickson, frugal expert and author of ”How To Be A Frugal Millionaire: Eight Simple Steps to Creating Personal Wealth.“ A big part of that may be buying a home together. Hendrickson says you have to consider such questions as:
- How are you going to pay for it?
- Will the mortgage be held in one or both names?
- Who is contributing what to the down payment?
- And how will all that matter should the day ever come that you part ways?
Unless everything is evenly split, you have to have some sort of an agreement together, says Long. Depending on how complex each person’s finances are, a legal contract, such as a prenuptial agreement, could be an option that protects everyone’s best interests. Keep in mind that when it comes to property, as well as credit cards and other debt, how assets and debts are divided may depend on the state in which you live. There are nine community property states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin; and in Alaska, it’s optional) that essentially divide everything attained during the marriage 50/50, regardless of whose name various accounts are in.
Brenda Hendrickson, a Rockaway resident and Certified Senior Advisor with an office in Fairfield, says she can turn you into a millionaire.
That, at least, is the claim and title of her award-winning book, “How To Be A Frugal Millionaire: Eight Simple Steps to Creating Personal Wealth.”
Hendrickson was born in New York City, but went to school at Fairleigh Dickinson University, where she graduated in 1982, before continuing with a full emigration into New Jersey.
She has been a tax and accountant specialist since graduating.
Hendrickson was inspired to write her book in 2006, by what she described as “the psychology of the general public that everything will stay going up.”
“One of my clients around 2006 could not live on $240,000 a month,” Hendrickson said. “A lot of us knew that everything is cyclical.”
The book turned out to be extremely prescient, its publishing timed just as the markets plummeted, in 2008.
Hendrickson has since won several awards—“the most memorable was the NJBIZ New Jersey’s Best 50 Woman in business”— has held a number of book signings, and has been a keynote speaker at various events.
And Hendrickson said she believes she has found the million dollar solution….
Two heads are better than one, especially when tackling an important, life altering situation such as retirement. When spouses or partners are both approaching retirement together, planning requires that both parties are involved in the decision making process, and that both parties have common values and goals.
The starting point is always the hardest. Creating a roadmap towards retirement will make the journey easier. The journey is lifelong and will take plenty of twists and turns before and after retirement. But because we have laid out the roadmap, we can get back on track with minor adjustments.
The roadmap is your retirement plan. The journey could be 10, 15, 20, or 30+ years away. The stops along the way are the items/projects that need to be completed. Rest stations are meeting with professionals to make sure the plan is still achievable. Follow this advice to make your retirement planning roadmap with your spouse.