Empty Nesters Research Paper

* Create a budget- creating a budget will help you not spend more money than you have. Creating a budget will also help you stay out of debt.

You may also want to review your current lifestyle. As your needs, income and financial goals change, you should regularly review your lifestyle budget. With retirement drawing closer, now is the best time to adjust your lifestyle and add new funds to your savings account. Cutting out unnecessary expenses and putting the money in your portfolio or 401(k) can boost your retirement account. In addition, money placed in your 401(k) now reduces your tax liability for the next tax

Grown children can benefit significantly from parental help. Young adults who received financial, every day and emotional support from their parents have reported clearer life goals and more satisfaction than young adults who received less parental support (Fingerman & Furstenburg , 2012). This closeness to parents, signals an overall change in the cultural climate of what relationships take place in people’s lives today versus in generations past. This change is made true by, delays in marriage, more Americans choosing to remain single, and high divorce rates, a tie to a parent may be the most important bond in a young adult’s life (Fingerman & Furstenburg , 2012). However the negative side to this can also lead to adult children feeling stifled and there even older parents sometimes feeling as though the children will never grow up. Research shows that parents and grown children alike reported awkwardness, viewing intense parental support in adulthood as a sign of harmful over-involvement. Parents reported less gratification about their own lives if they believed their children were too dependent (Fingerman & Furstenburg , 2012). So although help is great, it is the idea that this help can in turn cause more good than harm that is the issue. With the economy not yet having fully come back full swing and an ever changing definition of marriage coupled with

“Keep a record of your expenditures. Record and review monthly income and expenses. Determine how to reduce what you spend for nonessentials….discipline yourself to live within your budget plan.”

if you were to save $2000 dollars a year at 6% for 30 years under the terms of a

Here are 5 tried and true methods to reducing that debt and moving toward financial freedom.

The pain of separation with our kids can go far beyond simply missing your son or daughter after they're gone. Some parents do feel a very real sense of grief and loss; I know I sure will.

Surprisingly, the difference in net worth between the two groups was only 4.6%. Moreover, single pre-retirees with children experienced the greatest challenge of accumulating financial and retirement account assets. The single cohort with children had only accumulated an average balance of $17,362 in retirement account assets. Within the family structure, single with children appears to be the most vulnerable group in preparing for retirement.

Not only that, but many parents are postponing their retirement because they are helping their young adult children with their debts, studies or their housing. This can be very costly for the parents since they oftentimes have to worry about their own future and the costly expenses that come with retirement, and to provide for their kids who are currently relying on their support. This situation is even worse if the parents are a part of the sandwich

The responsibility to think and plan for retirement is in your own hands. People cannot just depend on their employers or the government for their financial security. Retirement may seem years away, but it is something that you need to plan for. The earlier you start saving for retirement, the more money you’ll have available to meet your needs in the future. Like most things in life, saving will take time and practice. Setting goals is a great way to keep you motivated. 401(k) is not the only option to save for your retirement. Small actions such as setting a direct deposit to put a percentage of your check into your savings account could be very beneficial.

During the years, single parent families have become a more common thing. This is starting to become a problem, because family dynamics can really influence a child’s life. According to studies it affects not only the child but the parents too.

If you have debt, it 's impossible to experience true financial freedom. It would be nice to make life decisions that weren 't totally based on your finances. In order to live this way, you 'll need to get out of debt quickly. Try these sixteen ways and climb out of the hole.

of one income, but it’ll require a great deal of saving and smart spending habits. Estimating one parent’s income before the arrival of baby will allow you to determine if all the bills and necessary living expenses can be paid off and then some. The third step, creating an emergency fund and savings, will help ease some financial stress in the occurrence of an unexpected medical stay or as a temporary second income. If the stay-at-home parent will only be out of work for several months to a year, using his/her saved income can help pay for other expenses until returning to work again.

Why does society label and judge a mother because she is a single mother? Being a single mother is not a bad thing. Things happen, such as death, divorce, or maybe their partner was abusive. No one truly knows what a mother is a single mother, or maybe what she had been through. Every single mother has their story, maybe it is straight up, or maybe it is emotional you cannot just judge anyone on how they live their life. Well, this is what my story is on today, why society labels a single mother as a bad thing, and why being a single mother is not a bad thing.

4. Reducing your debt - setup a good budget, one that you can live on, that will help you reduce your debt. Setup a good budget start by keeping a money diary. This diary should be kept daily and show every single expense no matter how small. If you bought a stamp write it down, if you bought a cup of coffee write it down and so on. This diary will show you where your money is going. Once you have this diary you will know where your money is going and where you can save. All of the money you save should go to reducing your debt or building an emergency fund. I suggest reducing your debt first, then building that emergency fund. An emergency fund consists of your monthly expenses times 3 to 6 months. By having 3 to 6 months worth of living expenses you can withstand a major life changing event. A life-changing event can consist of a job loss, a major medical problem and even unforeseen problems such as hurricanes or tornadoes.