Monday, September 05, 2011

NBC Today finance host talks about financial responsibility for parents

Their children will not only be concerned with their own student debt; they are likely to be saddled with enormous bills taking care of their parents as people live longer, she warned.

She didn’t mention filial responsibility laws, in effect in about 28 states, specifically.  She got into a discussion of premature IRA withdrawals (before age 59-1/2) and suggested that could burden kids with eldercare bills later.

She suggested that family adopt prepaid debit cards for use of a whole family, and that families learn they are in the same boat together.

Her blog is here.

Upon further review, it looks as though the speaker was in fact Manisha Thakor, with her comments about saying for both kids' college and your own retirement here:

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