May 2, 2011
Help Mom Plan for Retirement
From IRAs to social security, find out what you can ask Mom about her retirement plan this Mother’s Day to ensure she’s covered for the long term.
On Mother’s Day, we traditionally treat our moms to dinner, candy or flowers. But if you really want to ensure her future happiness, why not make time to talk about the state of her retirement savings as well?
Does she have an Individual Retirement Account or 401(k) plan—and is she putting away as much as she can? How about pension plans? If your Mom is counting on Dad’s pension, clarify what her benefits and coverage will be. And finally, women often rely more heavily on Social Security than men do, so it’s important for your mom to know her eligibility and what benefits she can expect.
Bottom line: This year, don’t just take care of Mom for one day; make sure she’s set for life.
- Help Your Parents Stay on Track Financially
- Money Saving Tips for Seniors
- Watch Out For Taxes in Retirement
- When Elderly Parents Need Financial Guidance
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