Money can often be an uncomfortable topic, especially when you have to talk with your parents about their money. It may eventually become your job to ensure your parent’s financials are in order and you have a plan that meets their wishes. Even if your parents are capable of managing their money now, it would be helpful to discuss what happens if they become unable to do so.
AARP just came out with their annual 99 Great Ways to Save Money. Here are Wealth Legacy Institute’s Top 20 from the article.
You may think lost money is ridiculous, but it’s more common than you might imagine. Last year, over $3.2 billion of unclaimed property was returned to its rightful owners, yet 60% still goes unclaimed. The US government has implemented active outreach programs to reunite unclaimed property owners with their lost or forgotten assets. Is it possible that you started a savings account and then forgot about it? Or maybe haven’t cashed a dividend check you’ve received?