- By Reprinted with permission of Investment Representative Celine Richardson of EdwardJones
- Business & Technology


If you have your parents during much of your adult life, consider yourself fortunate. As they age, however, you will need to become increasingly aware of added responsibilities you may have to assume. And by planning ahead, you can help make everyone's lives easier.
In dealing with various matters relating to your parents - particularly financial matters - the key is open and frequent communication. And that means you'll need to find out everything you can about your parents' assets, debts and estate plans.
You can start by finding out if your parents have a simple will drawn up. If they don't, urge them to get one. Your parents have worked hard all their lives and they want their assets distributed according to their wishes instead of a court's decree, which is what would happen if they die "intestate" (without a will). Even if your parents have a simple will, they may still need to take further action. If you think they have a sizable estate or want to give significant gifts to charitable groups, encourage them to consult with an attorney who specializes in estate planning.
If you've ever spent any time among investors, you're bound to have heard someone say: "If only I had gotten in on the ground floor of Company A (or Company B or Company C)." In investment terms, "getting in on the ground floor" means buying a company's stock shares when they first go on sale - an initial public offering (IPO), to use the official term. But is it really that desirable to invest in an IPO?
Before you can answer that question, you need to be familiar with the "nuts and bolts" of IPOs. In the first place, a company goes public because it wants to raise money to expand its operations. There's certainly nothing wrong with that, but you need to keep in mind that the IPO is being launched for the company's benefit - not yours.
(ITHACA, NY) For years, a six-foot wide sign for Camel cigarettes hanging over the checkout counter has greeted shoppers at Jason
If you're not familiar with the concept of identity theft, it basically involves someone getting some pieces of information about you - name, Social Security number, credit card numbers, "pre-approved" credit card offers - and using this data to make purchases or withdraw funds from your accounts.
Want proof? Look at every major event of the past century that could have given investors the jitters, such as assassinations, wars and political crises. You will find that after just a few years - and in some cases, a few months - the stock market not only gained back the ground it initially lost, but moved to new heights.
Most people who have mortgages dream of a day when they won't. In fact, many mortgage-holders speed up their payments to make that day arrive sooner. Is that smart, from a financial standpoint? Not necessarily.
This point is highlighted by a 2006 study prepared by economists for the National Bureau of Economic Research. About 38 percent of U.S. households are making the wrong choice when they speed up their mortgage payments rather than use the extra money to save in tax-deferred accounts such as 401(k) plans or IRAs, according to the study. These households are giving up a yield of 11 to 17 cents for every dollar they spend on extra mortgage payments, depending on their choice of investments in a tax-deferred account.
This week, we'll be observing the Fourth of July. But at some point in your life, you'll want to celebrate another type of Independence Day - Financial Independence Day. When will it occur? It's up to you. Here are a few suggestions for speeding it along:
Here they are, in no particular order of importance: