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
You’re a saver. Your spouse is a spender — maybe even a big-time spender. Is your marriage doomed?
Financial experts say that communication is the key to crafting a successful marriage — even when one spouse would rather sock away money and the other prefers to spend it until it’s gone. The worst case? When the spending spouse and the saver don’t talk about their financial issues until a giant credit-card bill forces them to address the problem.
“It’s all about communication,” says Leslie Tayne, founder of Tayne Law Group, PC, a law firm based in the New York City area that specializes in debt assistance. “Too often, spouses hide their spending because they don’t want to deal with the repercussions. The other spouse is taken by surprise when they receive this huge credit-card bill. That’s not the way to handle the situation. This can put great stress on a marriage.”
The better approach? Spouses need to talk out their financial problems before they can resolve them. And those spouses who are spending so much that they’re building an insurmountable pile of debt? They need to identify why they are spending so much and take steps to stop their dangerous financial behavior.
The power of communication
Tayne suggests that married couples meet once a week for an hour or so to discuss finances. This holds true even if spouses generally agree on how money should be spent. In cases where one spouse wants to spend more than a partner is comfortable with, these meetings become even more important. If both spouses are honest during the discussions, there at least won’t be any surprises on future credit-card bills.
But what of those spouses who hide their spending until it’s too late? Brenda Hendrickson, author of the book “How to be a Frugal Millionaire,” says that it’s important for married couples to determine why one spouse is spending so much.
It’s so easy to pull out the credit card, apply for a loan, go with the financing option on a car or other large purchase. It’s not really money, many think. But hard earned money has to pay the bills, and all money borrowed—whether it’s a line of credit or an interest rate that is applied when an item is not paid in full up front—is bill that must be paid.
Are credit cards debt? Absolutely. Debts include, but are not limited to, credit cards, car loans and leases, mortgages, and student loans. They are burdensome liabilities with sometimes overwhelming monthly payments. The more debt you have the longer it takes to pay them off. Can you be debt free? Yes, that should be the goal. Follow this advice for financial freedom.
Brenda Hendrickson, Certified Senior Advisor and Author of “How To Be A Frugal Millionaire,” was recently interviewed by radio host Joel Riley, of the This Morning radio program on WTVN.
WTVN (610 kHz.) is a News/Talk AM radio station located in Columbus, Ohio, USA. WTVN is currently owned by Clear Channel Communications, along with sister stations WBWR, WCOL-FM, WNCI, WODC, and WYTS. Its studios are located in West Columbus and the transmitter site is in South Columbus.
Listen to a clip from the interview below. Or click here to download the clip.