The Stellar Communicator

Financial scams targeting elders are becoming more common and harder to recognize. The Federal Trade Commission (FTC)1 reported that, in 2022, older people (60-plus) reported losing more than $1.6 billion to fraud. This is a significant increase from the $1 billion lost by older adults the previous year. There are multiple types of frauds being tried on elders, and often, they succeed. Here's what to do when your senior has been victimized by this economic crime.

Many Americans find themselves in their 50s without enough saved for a comfortable retirement. That's because many people focused on meeting financial obligations — like raising children and paying off debt — during their 30s and 40s. It's not too late to get retirement savings on track if you apply practical some strategies to help boost them.

In today's world where people are living longer and future financial conditions are uncertain, a majority of them worry about running out of money in retirement. About 58% of those saving for retirement or already retired feel this fear. That's especially true for Gen X and Baby Boomers who are approaching retirement age or are already retired. To help ease these worries, an effective strategy is needed to protect retirement wealth and ensure a comfortable and secure financial future. Here's how to create one.

You can take many paths to increased wealth, but it helps to have a recognized and easy-to-apply framework to structure your goals. The S.M.A.R.T. framework provides the structure and accountability that can help you turn your financial intentions into tangible results. Consider using the S.M.A.R.T. strategy to achieve financial goals like saving for college, starting a business, growing your income, paying off debt, reducing your taxes, or accumulating tangible assets.

With concerns about recession and inflation as a backdrop to this holiday season, you may wonder whether you can give to loved ones in ways more reflective of your personal and family wealth goals. That can include saving on taxes and hedging against inflation — while remaining consistent with the values you and your gift recipient hold. One of your values may be transferring wealth to the next generation to ensure they're prepared for the future and can weather macroeconomic shocks. Here are some ways to give the gift of economic well-being while protecting your finances.

If you have special charitable goals, you may want to consider a donor-advised fund (DAF). A DAF lets you set up charitable accounts at a variety of institutions — like community foundations, financial institutions, and national foundations — and donate money through them to your favorite causes. Here's what to know about the charitable and tax implication of establishing a DAF.

It's an honor when a friend or loved one trusts you to become their estate executor. But being a will executor is a significant responsibility. It makes you their fiduciary and it can be time-consuming and expensive. It may come with emotional challenges, particularly related to dealing with the departed's remaining family. Here's how to overcome those emotional and logistical challenges.

Most people know that inflation — the gradual rise in prices over time — decreases your purchasing power. And the recent bout of inflation has certainly had a profound impact on most people's purchasing power. At 8.5%,1 it's at its highest since the 1980s. This comes after price increases holding steady at the Federal Reserve's prescribed rate of a 2% annually since the Great Recession ended in 2009. What is the role of the Fed in mitigating inflation? [Note: I wrote this for the private wealth content platform for the bank's mass affluent audience.] (Image: Pexels)

Homebuyers often use a bridge loan or “swing loan” to act quickly in a competitive real estate market. For instance, if you’ve found your dream home but have yet to sell your current one, a bridge loan can provide the necessary funds to proceed. Here's how they work and how to use them.

Getting a credit card can be a rite of passage into adulthood. It’s a way to help build credit, earn rewards, and manage your financial life. Yet, given all the credit card myths floating around, it's confusing to understand how a card can impact your credit score. We’ve debunked ten credit card myths and misconceptions and answered your burning questions like: “Should I pay off my credit card?” or “Is carrying a balance a good idea?” Read on to learn the most common credit card score myths that can hurt your credit score and gain more knowledge of personal finance.

Budgeting is like a roadmap for your finances and can help inform your money moves. A money management strategy can guide you toward your financial goals while helping you avoid money pitfalls – it helps you clarify financial directions so you can be responsible with your money. A budget shapes both current and long-term financial decisions. By carefully tracking your income and expenses, you can spend and save responsibly, properly assess financial trade-offs, and stay focused on your goals. Here's why you need to create one now.

When your credit card bills are due each month, you may wonder if you can pay a credit card with another credit card. While you can’t do it directly, using one credit card to pay off another through balance transfers or cash advances is possible. However, there are some considerations to understand about each strategy. (Image: Liza Summer on Pexels)

When planning for a financially secure retirement, you might consider two investment vehicles: individual retirement accounts (IRAs) and 401(k)s. Both help you save for retirement, but they come with their own sets of rules and benefits. Understanding the difference between an IRA and 401(k) can help increase your retirement savings. Here's what to know.

Today’s inflation is pandemic-related and temporary—but maybe not short-lived. So, understanding how inflation works can help you maintain the right mindset. It also helps you take steps to hedge against inflation and avoid long-term harm when prices rise. Learn what you can do to adapt your finances to this inflationary period and potentially come out ahead.

In 2020, 3,142 people were killed in motor vehicle collisions involving distracted drivers, according to the National Highway Safety Traffic Administration (NHTSA). Statistics from the Centers for Disease Control (CDC) show that nine people die daily in crashes reportedly involving distracted drivers. In most cases, mobile phones are the source of distraction. If you cause an accident, your auto insurance rates may skyrocket and you may experience significant legal problems depending on the accident's severity. So, you want to avoid distracted driving at all costs. Here's how.

A private student loan is a one that comes from a lender like a bank, credit union, or finance company. Since the government doesn’t issue these loans, they’re often called “non-federal student loans.” The "Best of" overviews 10 private student loan lenders who have special programs for different borrower types. •• About the Project: As an expert reviewer for this website, I substantially rewrote and updated this review, which was the equivalent of 13-15 pages of text. I used my expertise in SEO, personal finance, and U.S. politics and economics, and I provided editorial direction. A project like this takes substantial time to complete, especially when it requires multiple editor-requested revisions, and I charge by the hour to do the work. The editor was an SEO expert and said the end product met his high SEO standards for content. Click my name in the review to see why this website made me an expert. Image: Muhammadtaha Ibrahim Ma'aji on Pexels.com.

A debt consolidation loan combines multiple debts, like credit cards, personal loans, medical and others, into one loan. I summarize the features of each loan covered here. They may be different in your state and are subject to change frequently. So, please check the lender’s site for the updated information. In this "Best of" lender list, I also provide significant education on what debt consolidation loans are, the application process, and alternatives to debit consolidation. •• About the Project: I wrote this original "best of" from a client-provided detailed project brief that supplied SEO keywords, the lenders to review, and the required questions to answer for each lender. I extensively researched each lender and wrote the reviews. I also used my expertise in SEO, personal finance, and U.S. politics and economics in my writing, and I provided editorial direction. This project, which was the equivalent of 15 pages of text or 5,000 words, took about 30 hours to complete. The editor was an SEO expert and said the end product met his high SEO standards for content. Because of my work and extensive expertise on the two original reviews I wrote for the site, the client editor made me an expert on the site. Click my name in the review to see why this website owner made me one of its experts. (Note: Clients pay me by the hour or word for projects like this and provide detailed project briefs.) Image: Monstera on Pexels.com.

Blending finances requires shared goals and a strategy and can come with frustrations and rewards. As you combine your finances, expect an ongoing process with strategic renegotiations and recalibrations along the way. Here are some tips to make the process easier.

A personal loan is unsecured debt offered to borrowers in a lump sum. Most personal loans come with fixed interest rates, fixed monthly payments, and fixed repayment terms. This makes personal loans a good option for borrowers who need cash but don't want t the high interest rates and unpredictable monthly payment amounts of credit cards. Choosing a personal loan can be challenging, so this "Best of" overviews 10 lenders who offer the best loan types for a borrower's situation. •• About the Project: As an expert reviewer for this website, I substantially rewrote and updated this review, which was the equivalent of 13-15 pages of text. I used my expertise in SEO, personal finance and lending, and U.S. politics and economics, and I provided editorial direction. The editor was an SEO expert and said the end product met his high SEO standards for content. Click my name in the review to see why this website made me an expert. Image: Sarah Chai on Pexels

A credit score is a vital number in your financial life. It’s a three-digit number between 350 and 850 that gives lenders an idea of how likely you are to repay debts. Your credit scores are calculated based on the information in your credit reports from the three major credit bureaus—Equifax, Experian, and TransUnion. This three-digit number determines whether you can get approved for credit cards, loans, mortgages, apartments, and more. Here's how to repair it and keep it good.