Frugal Living Finds 4

  • We're all used to seeing older people share their knowledge with someone younger. Whether it's a big brother showing his younger brother how to swing a bat or a middle aged mom giving her daughter advice on her wedding day. But sometimes it work in the opposite direction. This article from titled "6 Millennial Money Habits Every Retiree Should Learn" shared an interesting take. I was particularly interested in #6: "Talk It Out". The author suggested that millennials are more open to talking about money than retirees. And that's probably true. Most boomers (and their elders) were taught that talking about money wasn't polite. And, to a fair extent, I still think that's true. But, like most good things, it can be taken to a fault. Perhaps retirees could benefit from more financial talk with their spouse and their financial advisors.


    The Employee Benefits Research Institute just released a new report on retirement confidence. They state: "3 in 10 workers report that preparing for retirement causes them to feel mentally or emotionally stressed. These stressed workers feel less financially secure and are far less confident about having enough money for a comfortable retirement than those who do not feel stressed." And from the numbers I see about savings rates, they have good reason to be concerned. If you'd like to reduce your stress levels start a savings plan today. We have a tool that will help you compare savings rates from banks all over the counrty.


    Here's a startling statistic. According to a recent report from Americans are dying with an average of $62k in debt! In case you're concerned that you'll be saddled with your parents debts, that rarely happens. Generally unless you've co-signed a loan or have assumed responsibility for the debt you cannot be made to pay your parents debts when they die. But if you have any question you might want to contact an attorney in your state and provide them with the details of the debts in question.

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