Home Personal Finance Send Michelle Singletary money questions you want answered

Send Michelle Singletary money questions you want answered

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I remember getting a social security statement a few months before my birthday.It’s been an ideal time for me for years Think about your financial future.

Them letters stopped We came over 10 years ago because the government tried to save money.now you go onlineexcept in some limited circumstances, Apply Your statement—which, By the way, it was Redesigned for 2021 Lots of useful information.

But you can use your birthday as an opportunity to reflect on your finances without the annual reminder. What should you do in your 20s? When you reach your 40s, Retirement savings are going well. hit 60?of sooner or later debate Getting Social Security is what you’ve been facing for the last decade. you are 80 and still no willWhat is it about?

As a guide to financial self-assessment, I’ve created an interactive guide with the amazing team at The Washington Post.you can find it wapo.st/financial-birthdays.

Michelle Singletary Money Milestones for All Ages

We’ve received hundreds of questions over the years from readers across the country. From credit to wealth creation to housing and healthcare, we’ve compiled the most frequently used ones in our guides.

From twenty-somethings just starting out to retirees reaping the rewards of smart planning, there’s advice for every decade of your financial life.

there is also Post Report Podcast That includes conversations with two of my 20-something daughters. We talked about their fights with adults. They have some stories. Be prepared to laugh and cry as we discuss the money issues that rule our lives.

Post Report: How to Spend Money Wisely at Any Age

I wrote this project with you in mind. Every time I read a poll or study that says Americans are economically ignorant, I want to scream, “It’s not their fault!”

Yes, some people are upset because of bad choices. But the decisions you have to make regarding your money can be overwhelming and knowing who to trust to make the right decisions It is difficult to

“My biggest fear about growing up is not having a planned path,” said my youngest child, Gillian. podcast“Do you want to keep this job? Do you want to move to another state? Do you want to stay in the area? That’s all a big question mark. And that’s what surprises me about becoming an adult.”

Considering she has a mother who has spent much of her career writing about personal finance, and an equally savvy money manager father, that speaks volumes.

What we’ve done is put together a roundup of important financial issues in one place, combined with links to my columns over the years and other articles as resources. But as I put this project together, I realized that I couldn’t solve all the problems the first time. So I need your help here.

Add reader questions to improve your project. how do you feel about your money

Jim Ward of Alexandria, Virginia, emailed, “In your excellent Money Milestones column, I didn’t see anything about funerals. Do I have to prepay for a funeral?”

I will update the project next month and add Ward questions.

Many believe they cover the funeral costs with prepaid burial and funeral contracts, only to discover that there is something the family owes after the death. If you were able to find the information on “Preparations”.

“I buried my brother whose grave was prepaid but not his funeral,” Ward wrote. did not.”

Next came a search for policies they thought were appropriate.

6 fun steps to end-of-life planning

“We contacted the funeral home his church uses and found that he had not made any arrangements,” Ward said. “The funeral home contacted the churchyard and found out he had purchased the lot.”

Ward paid for the funeral out of his own pocket.

A friend pointed out that the project was missing something else. It’s a section dedicated to people in their 90s and beyond.

According to the Census Bureau, there are 2.4 million people over the age of 90 in the United States, including 2.3 million people between the ages of 90 and 99, and nearly 98,000 centenarians. Single-year estimated age from 2021.

so Released in 2011The 90+ population deserves a closer look given its rapid growth. ”

In 2016, there were 81,000 centenarians in the United States. That number is expected to rise to 589,000 by 2060, according to the Census. By 2050, people over the age of 90 are expected to reach her 10% of the population made up of those aged over 65.

I stopped giving advice to people in their 80s. In my opinion, Americans over the age of 80 would benefit from the same advice that has been offered over the last decade.

As with any attempt at this depth and breadth, something inevitably arises. left behind. But I will do my best to answer more of your most pressing financial questions. We hope that you will take an active part in identifying topics to add to this project.

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