Category: Holidays

Wants and Needs signs at fork in the road.

Reflections on 20 Years of Personal Finance Management

This month, Eddy & Schein Group celebrates 20 years of providing personal finance management services for a truly wonderful group of clients. In looking back over the past two decades, we see a consistency of big issues and commonly themed questions. One concern that’s been a constant is longevity, but, of course, there are others,…
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Personal Finance Preparedness for Uncertain Times – Part Two

As our lives progress, our finances get more complex and often confusing. Online and on paper, the more accounts there are, the harder it is to monitor and manage them —particularly in emergencies when someone else might need to manage your finances. (Learn more in our article, You Need a “Personal Finances Go Bag!”.) Once…
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Assets and liabilities inventory

Personal Finance Preparedness for Uncertain Times – Part One

If this year was a vanity plate, it would say CHAOS 2020. Medical, economic, and emotional crises are hitting every generation at almost every socioeconomic level. This onslaught of uncertainty has revealed the complexity and vulnerability of our personal finance ecosystems. Working with our clients this year, we are certain of one thing — you…
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It’s Time for a Personal Finances Reboot

As the nation moves cautiously into the next stages of recovery, Millennials, Gen-Xers, and Boomers alike are redefining “essential spending.” While a reset of personal finance habits can be beneficial for any generation, we’re seeing that Millennials in particular are looking to reconstruct their personal finances framework. There is also a large number of parents…
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We can help you navigate the complexities of divorce after 50.

Can You Afford Divorce after 50?

While the overall rate of divorce in the U.S. has actually been dropping following the surge that began in the 1970s, the number of divorces among those over 50, called Gray Divorce, is climbing dramatically. In one sense, it’s not unexpected. Many of today’s 55+ couples are the Boomers who themselves were the children of…
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Navigating the maze of additional insurance.

Do I Really Need Additional Insurance?

You’re at the rental car counter reading the punishing consequences of not buying the additional coverage. You’re trying to remember if your auto policy covers you, or if the credit card you’re using does that, or if your travel insurance protects you. Looking back at the line of impatient people behind you, you swallow hard,…
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Understanding the necessity of a personal finances go-bag.

You Need a “Personal Finances Go Bag!”

The year 2020 has shown us that, despite typical emergency planning, atypical disruptions can affect your personal finances, particularly bill paying. Staying current with bill paying is critical to protecting your home, health, car, as well as meeting any obligations to family and friends. The team at Eddy & Schein has updated a long-proven survival…
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Financial consultant assisting senior couple with their taxes.

Helping Senior Parents Organize for 2020 Tax Preparation

Useful tips for supporting aging parents with tax record keeping and documents. Each year, particularly at tax time, more and more adult children of aging parents take on the often-difficult job of helping manage aspects of their parents’ personal finances. Tracking expenses, locating and updating documents, and getting it all organized for review and hand-off…
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Considering senior living options during the pandemic.

Evaluating Senior Living Options during the COVID-19 Pandemic

Considerations for three main senior living options during the pandemic. In our work as Personal Finance Managers, we are often asked to help evaluate the financial impact of different living situations for seniors. We collaborate with Aging Life Care Experts/Geriatric Care Managers as they assist families in assessing living options. Here are some of the…
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Man And Woman Doing Financial Budgeting

Are You Going to Preserve Your Quarantine-Learned Financial Behaviors as the American Economy Re-Opens?

The COVID-19 pandemic and resulting U.S. economic downturn have inspired considerable reflection about our sense of financial security. For those who lost jobs and income, the importance of having some savings to help meet housing costs and bills was highlighted. For everyone, reviewing spending patterns for possible cutbacks seemed prudent since circumstances beyond our control…
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Senior Couple Calculating Budget

CARES Act and Your Retirement Opportunities

The CARES Act stimulus legislation passed this Spring offers tax opportunities for certain retirees. As part of the stimulus legislation to combat the economic effects of the coronavirus pandemic, Congress suspended the mandated payouts (called required minimum distributions, or RMDs) this year for various retirement plans. These include IRAs and 401(k)-type plans. There will be…
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Side view of businessman video conferencing with coworker on desktop PC at office desk

Providing Our Clients Continuity During COVID-19

Working remotely is not new for Eddy & Schein Group. While we miss visiting clients in their homes as we practice social distancing, we continue to provide our valuable services, even during the quarantine. The technology at our disposal and our company procedures have always allowed us to interface with clients, monitor accounts, solve financial…
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