Sound fiscal stewardship is key for older investors just as the stakes get highest for their nest egg.
THE INTERNET AND mutual funds have given investors knowledge and independence previous generations might never have imagined. But many, perhaps most, continue to lean on professionals for guidance.
That’s easy to understand when it comes to big-ticket matters like growing a nest egg for retirement. But some investors, especially if they’ve lost a step or two, also get professional help with day-to-day chores like paying the electric bill.
Sound daily money management is key to investing success because it allows bigger contributions in the portfolio-building stage and smaller withdrawals in retirement. But routine chores can become challenging for older investors just as the stakes get highest, when money must be stretched for years and years.
The question: how do you know when you or a loved one needs help, and how do you get it?