November 1, 2011
It was the last day of the month (and Halloween as well), so I’ll be bracing for door duty tonight as the kids make their rounds looking for treats. Unfortunately no treats for investors today as the markets took it on the chin to end what was an otherwise solid month of gains for the indices.
A recent Texas Tech University study found that scores on a test measuring knowledge of investments, insurance, credit and money basics fell about 2% each year starting after age 60. I’ve often talked about the importance of staying up-to-date with one’s own finances, as well as those of your parents. The percentage of adult children providing personal care and/or financial assistance to a parent has more than tripled over the past 15 years, and currently represents a quarter of adult children, mainly Baby Boomers.