This book has been written as a comprehensive walkthrough of what you can expect and how to successfully handle your parents finances. To start, you must learn the basics of managing money that is not your own. You will be provided with a step-by-step chapter on how to keep track of funds, maintain the same accounting methods your parents have used for decades, and keep everything organized and separate from your own. You will learn how to evaluate sources of income including how to receive and manage Social Security, 401(k), and other retirement plans as payments are made. Additionally, you will learn how to balance their expenses, including a budgeting sheet to help you maintain the same level of expense they expect. You will learn how to budget accordingly, depending on where your parents are living and what their medical expenses might be. Learn how to maintain housing for your parents as well, whether they are in assisted living or staying with you. A guide on how to talk to your parents about fraud and keep them away from potentially dangerous opportunities will make it easier for you to keep a handle on their finances without taking away their freedom. It can be daunting when you first take control of your parents finances, but with this book in your hands, you should be able to quickly and efficiently take the reins and maintain the quality of life they have grown accustomed to.
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|Size: ||2.1 MB|
|Publisher: ||Atlantic Publishing Group, Inc.|
|Date published: || 2008|
|ISBN: ||9781601385413 (DRM-EPUB)|
|Read Aloud: ||not allowed|