Are you part of the Sandwich Generation? These are individuals simultaneously caring for and supporting their kids and parents. Competing priorities have often left this generation struggling with work, financial, health, family, and time pressures. There are no easy solutions when you’re in this situation but you can take some steps to try to relieve […]
The LK Blog
Can You Afford to Give Money to Your Adult Children?
It’s natural to want to help your kids even after they’ve become adults. These days it can feel like a necessity with the high cost of college, housing, and other expenses. According to a study by Savings.com, “47% of parents with grown children provide them with some form of financial support (not including adult children […]
6 Steps to Take As You Approach Retirement
What’s your vision of a perfect retirement? Relaxing in the sun, traveling the world, working when you want as much as you want? The best plan for retirement starts long before you’re ready to leave your job. The sooner you begin, the more time you have to think about what you want and plan for […]
8 Tips for Resolving Financial Disputes with Your Spouse
Are you and your spouse on the same financial page? Money is a leading cause of marital problems because conflicts are often about more than dollars and cents. How we save and spend money ties into our life experiences, level of financial education, self-perception, values, and emotions. The stakes are also high because our finances […]
10 Financial Steps to Take With Your Older Children This Summer
Summer is a good time to think about teaching children and young adults about money. Maybe they are getting their first summer job as a teen or a permanent one after graduation or they are headed off to college in the fall. With more money and independence, comes the need to learn how to spend […]
Are You Prepared for the Financial Impact of Caregiving?
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. […]
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.