Smart Money


SMART MONEY info and helpful web links:

Julia  Anderson & Joe Smith

Preventing Elder Financial Abuse:

Anonymously report elder financial abuse by calling these numbers:


Oregon:   855-503-7233
SW Washington:   877-734-6277
National elder abuse hot line:  800-677-1116

Helpful Elder Abuse Web sites:
   Oregon Dept. of Human Services  
  Elder Justice Center for SW Washington
http://www.hsc-wa-org/sweap-coalition

   Washington state Dept. of Social and Health Services    https://www.dshs.wa.gov/altsa/home-and-community-services/report-concerns-involving-vulnerable-adults

   Oregon Bankers Association, How Banks Can Help, click here.

   National Center on Elder Abuse   click here. 

  Smart Money (elder abuse) YouTube link: https://drive.google.com/file/d/0B1lHrWqzDiu-cVFOeUdiZ1NrR1E/view?ts=58f7ea14

How to marry after age 60
1. Before marrying, put together a pre-nuptial agreement spelling out your separate assets, along with who gets what and when, if one of you dies.

2. Get legally married. Don’t just move in together.

3. Buy term life insurance on each other to make up for assets that will go to your separate children, if one of you dies.

4. Each of you make a list of your tangible assets. Spell out how, when and to whom these items (furniture, art pieces, jewelry) will be distributed when you die. Then enjoy life with the knowledge that you have given some peace of mind to your children.


5 Steps to Retirement Planning (in advance)



Step 1: Determine your net worth by subtracting your debt from your total assets.


Step 2: Make a current household budget. Where does your money go every month?

Step 3: Check out Social Security. Determine your benefits at age 62, 67 and 70.

Step 4: Estimate your retirement income from Social Security, retirement savings, rental property (if any), pension and/or investments. Figure your monthly income in retirement. 

Step 5: Make a retirement household budget. What changes? Will your monthly expenses decrease in your later years? Or will they remain the same?

NOW FOR THE BIG (retirement planning) QUESTION: Will your estimated retirement income cover your retirement living expenses? If not, save more and/or reduce your expenses before retiring. Or keep working!!!

Smart Money YouTube link: https://drive.google.com/file/d/0B1lHrWqzDiu-RW9VYTV2dHE1d2c/view?ts=58f7e9da

Questions to ask when HIRING a financial adviser/broker

How do you get paid? Commissions on sales or fees for each transaction or both?

What do your clients say about you? Ask for references.

What’s the strength of the company you work for or work with?

What are your checks and balances in managing my money?

How often do you report to me on my account?

Can you put your investment proposals in writing?

What are the potential pitfalls of the investments products you are offering?

Ask yourself: When you meet with your adviser, do you come away feeling good about what you have learned? Do you understand your plan and how much it will cost you?

Holding a FAMILY money summit

Why a family money summit is important.

     - You determine how you want your assets distributed when you die.
     - Your children/step-children will know what to expect.
     - Spelling out your plan will bring peace to family gatherings.
     - Your plan will eliminate stress and reduce costs of settling your estate.

 What to do before your family money summit.
     - Write a will spelling out how you want your assets distributed when you die.
     - Write a tangible asset list and how you want items on the list such as jewelry, guns, art work, paintings distributed at your death. 

How to do a successful money summit:  Tell family members in advance that you would like to hold a money summit. Be creative about the setting. Mention who is invited-- the more inclusive the better. DO NOT hold an impromptu money summit at the family holiday dinner table after everyone has had a few drinks!

Social Security information links:

Main web page (set up a personal account): socialsecurity.gov


Social Security: What Every Woman Should Know, click here.

Divorce and Women's Social Security Retirement Benefits, click here.

Social Security is important to Women, click here.

Women and Social Security Benefits AARP, click here.


Teaching kids about money --- Web sites















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