EMBRACING LIFE TO ITS FULLEST - LEGACY RESERVE

Patrons of Legacy Reserve at Fritz Farm can hardly wait to move into their new homes this month. Some of them signed up over a year ago.  “I chose Legacy Reserve as my future home for many reasons,” said Don Bayer, a retired Chicago Public Schools principal. “I was fascinated by the fact that it is going to have a heated saltwater swimming pool. I love to swim.”   “We decided we wanted to live here the rest of our lives,” said Loretta Jones, another resident looking forward to moving in. “So we are downsizing and we’re ready to go.”

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LIVING FRUGALLY

Many people in the United States with significant savings fear going broke in retirement, according to a recent survey. However, there are ways to live frugally to try to prevent that from happening.

1. Analyze your living situation. According to research, the cost of a home and home-related expenses accounts for nearly 43 percent of spending for people who are 65 to 74 years of age. ....

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TECHNOLOGY PRIMER FOR GRANDPARENTS

No one needs to be told the younger generations are attached to their technology. It used to just be computers, but now it’s smart phones. These days, if you want to stay in contact with your grandchildren – and sometimes even your children – you’d be wise to learn a few basic methods of keeping in touch in the digital age. A study released in 2012 by Microsoft and AARP called “Connecting Generations” found teens and their parents and grandparents are communicating more because of social media and other online tools.

….FULL ARTICLE

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or she wants to achieve. The most important thing is to find a system that works best for you and your partner. It will make for a happier relationship with less arguing and more time enjoying one another.

One of the many things a couple should discuss before marriage is finances. Financial issues are among the top three leading causes of divorce in the United States, according to the Institute for Divorce Financial Analysts (www.institutedfa.com).


It is important to know your partner’s financial stance as you enter into a serious relationship and definitely before getting married. Finances can make or break a relationship. Different spending habits, different financial goals and financial secrets should all be things you discuss with you partner so you can know whether you can see yourself dealing with those issues for an extended period. Different upbringings and different attitudes towards money also need to be addressed early on.


As with everything, the key is balance. It is essential that you and your partner are able to balance your differences in financial beliefs. Be willing to compromise. Here are some ways to address money so you can discover what works best for you and your partner:


Action Plan.

Have the saver manage the money and create a plan with some assistance from the spender. The saver should take full responsibility of accounts and review spending history. Set a plan for purchasing things that are more expensive and may take more time to save up for.

RELATIONSHIPS: SPENDERS VS. SAVERS

Set expectations on the amount you want to have in various accounts and how you want to distribute money into the account.


Allowance.

Each partner should get an allowance each month for personal expenses. It may be the same amount for each person or different amounts based on each person’s monthly expenses. Make sure to discuss each amount with your partner and come to an agreement. It is also important to decide what the personal allowance will cover: going out with friends, clothes, lunches?


Separate Funds.

Find a way to keep funds such as checking and savings separate. You and your partner could also have separate accounts. You may choose to set up one checking account, one savings account and one fund from which to pay bills.


They say opposites attract. You two can learn from one another’s money-handling habits. The spender might help the saver splurge every once in a while. The saver may help the spender develop more discipline and work toward a financial goal he

TANIQUA WARD, M.S

TaNiqua Ward is a Staff Writer for Living Well 60+ Magazine

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