Amrita Choudhary

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Such a sensitive subject requires a careful approach. Talking to your aging parents about their finances can be extremely difficult, but it can be important to ensuring they are supported and cared for in their later years. As parents grow older, they may find it harder to do the things they’ve always done, such as manage their day-to-day finances or make major decisions about money. They may also have certain wishes regarding their long-term care or what they’d like done with their assets once they pass on. Having these conversations with your parents early on can help ensure you’re on the same page and help them make the best decisions for their needs. However, approaching parents about this subject can be challenging, and parents may not always be receptive to getting advice from their children — even if they are grown adults themselves. To help make these matters easier for both parties, the financial experts of Kiplinger Advisor Collective each share one tip they’d give for how to approach this type of conversation with aging parents, and why implementing this tip can ensure everyone is happy.

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Saving money can be as simple as a quick phone call. Lots of people are interested in saving more, but they don’t always want to change their lifestyle in order to do it. Especially when you have a large amount to save or haven’t started saving at all, it can be difficult to find the motivation to cut back on the things that bring you joy. However, saving, even if it’s just a little bit each month, is an important part of your wealth-building journey. It not only ensures you have cash to fall back on when emergencies eventually arise, but it also allows you to make larger purchases and afford the kind of lifestyle you aspire to have in the future. So does that mean you have to cut way back on your lifestyle now in order to save for the future? According to the money experts of Kiplinger Advisor Collective, that doesn’t have to be the case. Here, they discuss little (but effective) ways anyone can easily save money each month without compromising their overall lifestyle or sacrificing joy.

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Getting on the same page now can ensure you remain successful throughout your relationship. Whether you’re a few months or a few years into a relationship, talking with your partner about money can sometimes feel awkward. You may have different goals for your money or different behaviors regarding spending and saving, and these differences can sometimes be the catalyst for arguments you aren’t sure how to solve. For couples who choose to blend their finances, getting on the same page about money is even more vital to long-term success. For your finances to work as one, you and your partner must work as one — and, according to the financial experts of Kiplinger Advisor Collective, follow these seven key steps. Below, they elaborate on each step, explaining why having meaningful discussions and ensuring you each have a stake in the game will not only make you stronger financially but as a couple as well.

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To change your finances, you’ll first need to change your thinking. The way people think about money can have a greater impact on their financial success than they may think. Whether it’s the way you were raised or a belief that you have come to over time, the mindset that you develop around your finances has a direct influence on the actions you take with money and your behaviors surrounding it. These beliefs can be positive or negative, truthful or a lie — but how can you tell the difference? Below, the financial experts of Kiplinger Advisor Collective list out some of the most common money mindsets people have that may actually be hurting their progress with money, detailing not only the reasons why but also how they can change and finally get their finances in order.

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The right professional will help you more than just once a year. As April 15 draws closer and closer, the need to file your taxes on time grows even more urgent. While there are self-filing services and software available, many people still look for the personalized guidance and care a tax professional can provide. But are all tax professionals the same? With so many to choose from, narrowing down the perfect planner or adviser for you can be a complex challenge. To help make the search a little easier, the financial experts of Kiplinger Advisor Collective offer their guidance. Below, they outline some of the most important factors you should consider when looking for a tax pro and discuss why making the effort to find the best help now can save you both time and money well into the future.

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AI will play an important role in successfully implementing the ASC 842 lease accounting standard.