A third of scam victims are folks over 65 according to the AARP but they make up only 1/8th of the population.
Reviewing the insurance policies for mom will take some time but will be well worth it.
Asking mom about her money and how much she has may be a tricky conversation. She may think you are after her money!
The CRS Syndrome does exist. This disease begins around age 40 and it gets worse with age.
I would like to spend this week talking about moms and the care we may have to someday provide for our moms as they age.
It is your money in that IRA. And you can get at it. But you may have to pay a penalty to get at it if you are under 59½.
The Roth IRA is my favorite of the IRAs. You use after-tax dollars to make your contribution but when you withdraw the funds in retirement, you will not owe income tax on the withdrawals .
A Spousal IRA is used for an unemployed or underemployed spouse.
A Rollover IRA allows you to receive distributions from qualified retirement plans such as your 401(k), 403(b), 457. You “roll” the money from one qualified account into another.
Workers do not know enough about retirement plans. One of the easiest plans to use is an IRA, an Individual Retirement Arrangement.