One in five adults currently provides uncompensated caregiving for their families. The economic value of that care was $600 billion in 2021 not including out-of-pocket costs, lost wages, or the cost of more complex medical/nursing care. The need for care and associated expenses are also escalating every year as more people retire and live longer. […]
The LK Blog
5 Financial Questions to Ask Your Fiancé Before Getting Married
Money is a frequent source of arguments in marriage so it makes sense to talk about finances before getting married. Yet, many couples avoid those discussions both before and during marriage. Often, it’s because they grew up in families uncomfortable talking about money. Unfortunately, this can lead to serious conflicts damaging the couple’s relationship and […]
What to Do If You’re Struggling to Pay Bills on a Six-Figure Income
Nearly half of Americans making $100,000 or more a year struggle to pay their bills. The same is true of 32 percent of individuals earning at least $150,000 a year. While it’s true that, six figures in New York doesn’t get that far compared to lower-cost regions, it still exceeds what many people make. Those […]
Managing Your Finances for the First Time After a Major Life Change
If you’ve experienced the death or disability of your spouse or divorce, you know it takes a toll on your emotions and your finances. In marriage, it’s common for one spouse to manage the couple’s finances. Sometimes, tasks are split with one spouse handling investing and long-term financial decisions, while the other takes care of […]
Tips For Managing Your Parents’ Finances
If your aging parents lose their ability to handle tasks, such as dealing with money, you may need to step in. Managing parents’ finances poses many challenges starting with how to raise the issue with them.
Beware Holiday Scams
Unfortunately, the holidays are a popular time of year for scams. More people are making purchases, traveling, donating to charities, and engaging in other activities that thieves and hackers can take advantage of to make money. We’re also busy and distracted and not necessarily paying close attention to what we’re doing. Before you give out […]
7 Tips to Help You Avoid Overspending for the Holidays
The holidays can cause even the most frugal people to blow their budget. Between gifts, decorations, food, entertainment, travel, and other costs, it is very difficult to avoid overspending for the holidays. However, the last thing you want to do is start next year with substantial bills that you may have trouble paying off. While […]
How Caregivers Can Take Better Care of Themselves
Being a caregiver can take a tremendous toll on a person’s physical, mental, and emotional health. Caregivers can be so busy helping a loved one while also managing their own personal and work life, that they don’t have time to take care of themselves. This can leave them vulnerable to health issues. If you’re a caregiver, it’s crucial to make time for self-care for your sake and your loved ones.
Who Will Handle Your Finances If You Become Incapacitated or Seriously Ill?
Planning for incapacity or serious illness can be just as difficult as planning for death. Who wants to think of themselves as being sick and unable to handle paying bills or managing their money? This doesn’t just include lying on your deathbed in the hospital. It encompasses a wide array of situations that may temporarily […]
5 Financial Strategies to Help You Survive a Gray Divorce
According to several studies, currently, more than a third of all U.S. divorces are “gray divorces” – that is, involve couples who divorce after the age of 50. The financial impact of such divorces is significant, particularly for older women who can see their standard of living decline by 45% compared to 21% for men. […]
