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News You Should Know

News You Should Know: The Cost of Caring for Parents

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Caring for a Parent Can Take Financial Toll | Squared Away Blog

Those who care for aging parents know that providing care isn’t cheap. There are direct costs like gas and picking up household goods like groceries, as well as indirect costs, which can include reducing hours at work or retiring sooner. Researchers looked into what caregiving means in dollar terms for women in their 50s and 60s.

Millennial Myth-Busting: 5 Financial Rules of Thumb That Were Becoming Obsolete Even Before Covid-19 Arrived | Forbes

Which pieces of time-tested advice are younger adults following…and which are they casting aside? While you might be surprised at a few of these (“I thought owning was always better than renting!”), know that the wisdom of the ages is not being completely discarded. As the article states: “61% of adults still rely primarily on their parents for financial guidance.”

Tune Up Your Finances for a Better 2021 | Kiplinger

Getting finances in order is a popular New Year’s resolution. Although we all know the success rate of most resolutions, a resolution that requires a bit of paperwork might be a great fit in early 2021 as people continue to self isolate in their homes. Use this checklist to get your papers in order so you can hit the ground running on January 1.

Report: Primary care spending on the decline | Benefits Pro

At first glance, this might sound like good news—a rare story about health care costs that mention spending going down. But read on and you’ll learn why this is cause for concern. Primary care spending is a cost-effective way of delivering care. Meeting with your normal doctor on a regular basis can help catch issues early, before they become more worrisome and expensive to address.

News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.

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