There are an estimated 1.3 million people over age 60 in Colorado, a number that is growing significantly with each passing year. As of 2024, approximately 10 to 12% of these seniors — or about 130,000 — face substantial financial challenges. Support programs, with a mix of government, community, and private sponsorship, come to the aid of a portion of these people…read more
An analysis by business news channel CNBC has found that women who divorce in their later years — which is often referred to as “gray divorce” — are put at much more financial risk than men who go through a gray divorce.
If you’ve been named as your parent’s executor, you’ll find it’s a role with both emotional and administrative tasks. Here are some key guidelines.
ane Young, a Colorado business columnist and certified financial planner, said in a July 2023 column that when seniors begin to think about how they’ll manage their financial assets as they get up in age, they often consider adding an adult child’s name to their bank accounts, their other financial assets, and also possibly to the title on their home. She said this can seem reasonable, especially when the son or daughter is well trusted. But “this can have huge negative ramifications on your finances.” She offered several reasons why.
Learn About the NIH Funded Research Into Financial Decision Making and Cognitive Health Under Way at the University of Denver AND
Need a Little Help with Tax and Financial Planning? Tune in for Some Great Ideas
Retirement can be an alluring stage of life, a time when, as a psychologist once put it, you can stop doing the things you have to do and start doing the things you want to do. But living that ideal life requires a steady stream of income that lasts as long as you do. The earlier you retire, the more important it is to manage your retirement assets wisely.
On the insurance front is another occasionally used funding source known as a life settlement. This option, also sometimes called a senior settlement, involves selling existing life insurance to a third party for cash. This third party is a person or entity other than the company that originally issued the policy. The settlement amount to be gained is typically more than the policy’s cash surrender value but less than the death benefit
Colorado’s State Treasurer office estimates that more than 40% of the state’s private-sector workforce does not have access to a retirement savings plan at work. That equates to nearly 940,000 workers. A new program called Colorado SecureSavings (CSS) was created to meet this need, and its website for applicants went
Particularly with the combined effects of a multi-year pandemic and historically high inflation, media coverage of economic news has focused an increasing level of attention on the plight of older Americans in uncertain financial times. CBS News, for instance, issued a report noting that even a cost-of-living bump in Social
A July 2022 study conducted by the Center for Retirement Research of Boston College concludes that in general, “retirees do not have an accurate understanding of their true retirement risks,” and these retirees often underestimate the importance of setting up resources to provide lifetime income. The study compared the “objective”
A solid overview of what this loan product is all about, who is eligible, and the various ways it can be customized to meet the current needs and future goals of the borrower
Learn the basics to plan for your future as you age … even if you are already retired.
Join our panel of financial and estate planning experts and get your questions answered. This is a great way to learn about how to prepare for the future of aging with independence.
You’ve worked hard all your life, and retirement is just around the corner. You hope you’ve scrimped and saved enough so you can take trips to see the grandkids and enjoy lazy days full of activities you love to do, not work tasks you have to do. Did you know
There’s a well-known idiom that states “You can’t take it with you,” meaning you leave behind your money and any other possession when you die. It’s a good reminder to enjoy our blessings while we are still here on earth. It is also a hint for older adults that planning
Older adults often face critical and complex issues such as income security, housing, utilities, protective services, abuse, neglect, and age discrimination, which is why advanced planning is so important. Early legal planning for seniors can make a big difference. Some of the benefits of early planning include giving all interested
Most older adults’ income decline after they leave the workforce. The first step to ensuring that there are enough funds to last the rest of you or your loved one’s life is review all income sources to determine how much each will provide and for how long. When You sit
A crucial part of aging in place is understanding and honestly evaluating you or your loved one’s financial health. Much like a company that reviews its profit and loss statements, you should conduct a comprehensive review of all income and assets. Attaining economic security for seniors starts with putting together
