Navigating Financial Conversations with Aging Parents

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Having a conversation with your parents about their finances can seem like a daunting task. However, it is an essential step in helping to ensure their financial well-being as they get older. Here are some practical tips to help you navigate these discussions.

Start the conversation

Talking about money can be difficult. However, it’s important to initiate a financial conversation with your parents before they become too ill or incapacitated. Your parents may be unwilling to talk to you at first because they are reluctant to give up control over their financial affairs, or they are embarrassed to admit that they need your help. It’s important to approach the topic sensitively and make it clear that you fully respect their needs and concerns.

If they are still hesitant to talk to you and are capable of managing their affairs for now, you may want to revisit the discussion later. Or you could suggest that they talk to another family member, trusted friend, attorney, or financial professional.

Organize financial and legal documents

Once the lines of communication are open, you can help your parents organize their financial and legal documents. Start by creating a personal data record that lists the following types of information:

Financial: Include all of your parents’ bank/investment account information, including account/routing numbers and online usernames and passwords. You should also list any real estate holdings, along with any outstanding mortgages. Do your parents receive income from Social Security, a pension, and/or a retirement plan? You will want to include that information as well.

Legal: Find out if your parents have had any legal documents drawn up, such as wills, trusts, durable powers of attorney and/or health-care directives. Locate other important documents too, such as birth certificates, property deeds, and certificates of title.

Medical: Determine what type of health insurance your parents have — Medicare, private insurance, or both. You should also have the names and contact information for their health-care providers, their medical history, and any current medications.

Insurance: List what other types of insurance coverage your parents have — life, home/property, auto, or long-term care, for example — along with the names of their insurance companies and policy numbers.

Store the data record and any other pertinent documents either electronically or in a secure, fireproof box or file cabinet.

Help with managing finances

You can help your parents manage their finances by examining their budget and finding out their monthly income and expenses. Track your parents’ spending to make sure that they are living within their means. You should also discuss ways to address any outstanding debts they may have.

Find out how your parents pay their bills and expenses. If they still use traditional methods, encourage them to set up safer and more convenient ways to bank such as direct deposit and making payments online, instead of mailing paper checks. If your parents are uncomfortable with electronic payments, remind them to mail all bills inside the physical post office and not to use outdoor mailboxes, which may be targets for mail theft.

Do your parents need additional support in managing their finances? There are ways for you to obtain the necessary authorization to assist them. One way is to become a joint account holder on certain bank accounts. This can give you direct access to manage transactions, monitor account activity, and ensure bills are paid. However, being a joint account holder may have certain legal and tax ramifications. Another option is for them to obtain a durable power of attorney, which is a legal document that grants you authorization to make financial decisions on their behalf, even if they become incapacitated. It may also be helpful for them to add you or someone else as a trusted contact for their accounts.

Discuss estate planning issues

If they haven’t already done so, make sure your parents have certain legal documents in place — such as wills and/or trusts — to ensure that their estate planning wishes are followed. In addition, they may need to have a durable power of attorney, health-care proxy, and living will in place so they have someone to manage their money and health-care issues if they become ill/impaired. Issues surrounding the care of an aging parent can be complex. Consider consulting a financial professional and/or elder law attorney who specializes in financial and legal issues that affect older adults.

Questions about estate planning? Contact First Financial’s Investment & Retirement Center by calling 732.312.1534. You can also email mary.laferriere@lpl.com or maureen.mcgreevy@lpl.com

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal professional.

LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

CRPC conferred by College for Financial Planning.

This communication is strictly intended for individuals residing in the state(s) of CT, DE, FL, GA, MA, NJ, NY, NC, OR, PA, SC, TN and VA. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2025.

Renting a Car This Summer? Factor in Potential Fees

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Renting a car can be a smart way to explore new destinations this summer, but it’s easy to get snagged by hidden costs if you focus only on the advertised rate. While rental agencies may market low daily rates, mandatory fees and optional add-ons can add 40–45% more to your total bill. Here are some things to consider prior to booking your next car rental.

Added fees on a car rental might include:

  • Airport or location fees: These can add up and are often not shown in the initial rate.
  • Taxes and regulatory charges: The government tacks these onto your rental bill.
  • Young driver fees: Drivers under age 25 often pay steep daily charges. Some agencies in certain states may also not even rent to a driver under age 25.
  • Additional drivers: Some companies charge for each extra name on the rental agreement.
  • Mileage limits or toll fees: Know ahead of time if there are daily limits or toll surcharges.
  • Refueling charges: Filling up off-site before you return the car will save you money compared to agency refueling fees.
  • Late pick-up fees: Did you reserve your car rental for a certain pick-up time, but your flight got delayed and you picked your car up a few hours later than initially planned? Be aware that some rental agencies may charge additional fees for this. Or if your return flight gets delayed, and you bring the rental car back later than initially planned.

Do you need rental insurance?

Your personal auto insurance or credit card may already provide coverage, so check before you accept the rental company’s typically costly insurance offers. Many credit cards will offer coverage for car rentals, but specifics vary. Check your credit card agreement for details on what you may already have as a credit cardholder.

Optional coverages include:

  • Loss Damage Waiver / Collision Damage Waiver
  • Supplemental Liability Insurance
  • Personal Accident Insurance
  • Personal Effects Coverage

Tips to trim car rental costs:

  1. Book carefully: Surprisingly, booking about one month out can be cheaper than booking way ahead. Expert sources note that last-minute rentals can save you ~13% compared to booking 90+ days ahead.
  2. Rent outside of the airport when possible: Avoid hefty airport surcharges by renting downtown or at nearby off-site lots.
  3. Bring your own extras: Skip rental gadgets like GPS, child seats, or in-car radios —bring them instead.
  4. Inspect the car carefully: Document any damage at pick-up and drop-off with photos or videos to avoid false damage claims.

Renting a car doesn’t have to be complicated, but it does require a closer look at the fine print. By factoring in hidden fees, reviewing your existing insurance coverage, and planning ahead –  you can avoid surprise charges and stay on budget. Wherever your summer travels take you, being informed is the key to hitting the road with confidence. Subscribe to our First Scoop Blog for more tips and information on how to be a mindful consumer.

How to Save Big by Shopping Off-Season

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Looking to make your money go further? One of the smartest and simplest ways to save money is by shopping off-season. From clothing and outdoor gear to holiday décor and even travel, buying items when demand is low can lead to major savings.

When something is in-season, whether it’s winter coats or beach chairs, retailers know consumers are willing to pay more – so prices tend to stay high. But once the season ends, stores typically need to make room for new inventory. That’s when discounts, markdowns, and clearance sales often come into play.

By planning your purchases, you can avoid paying peak prices and take advantage of deeply discounted deals on quality items you’ll use in the future.

Common Items That Cost Less Off-Season

Here are a few examples of how off-season shopping can save you money:

  • Clothing: Buy winter coats and boots in late winter or early spring. Grab swimsuits and sandals in late summer. Retailers often mark these down by 50% or more once the season passes.
  • Holiday Decorations & Gifts: Shop for holiday lights, wrapping paper, and decorations after the holiday season ends. You’ll save big and be ready for the following year.
  • Grills & Patio Furniture: Prices for outdoor gear tend to drop dramatically in fall and winter. Buy during the off-season and you’ll be set for next summer without the high price tag.
  • Travel & Airfare: Consider booking trips during early spring and late fall. You’ll often find cheaper flights, accommodations, and fewer crowds.
  • Home Appliances & Tools: Air conditioners will go on sale in the fall, and snow blowers will be less expensive in the spring. Plan ahead and buy before the next peak appliance season hits.

Tips for Successful Off-Season Shopping

Ready to start saving? Use these tips to make off-season shopping work for you:

1. Make a Year-Round Shopping Calendar: Plan out when major seasonal items will go on sale and mark your calendar. Being strategic can really pay off.

2. Buy Ahead, Not on Impulse: Just because something is on sale, doesn’t mean you need it. Focus on what you’ll actually use in the future.

3. Size Up for Kids: When buying clothes for growing children, purchase next year’s sizes at end-of-season sales.

4. Store Items Properly: Keep your off-season purchases organized and stored well so they’re ready to go when you need them.

5. Stack Savings with Coupons or Rewards: Combine clearance prices with loyalty programs or cash back credit card rewards (like our uChoose Rewards program for First Financial Visa Cash Plus Cardholders), for even more savings.

Small Strategy, Big Savings

Off-season shopping is one of the easiest ways to cut costs without cutting corners. With a little planning and patience, you can stock up on high-quality items for a fraction of the cost and free up more room in your budget for the things that matter most.

At First Financial, we’re here to help you save smart all year long. Looking for more financial wellness tips? Check out some of our other posts on our First Scoop Blog!

Things to Do on a Budget in Monmouth & Ocean Counties this August 2025

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August is packed with free or inexpensive activities to help you soak up every last bit of the summer sun without draining your wallet!

August 1

Clamfest (Highlands) – If you want to feel like you’re at the beach without all the sand in your shoes, head over to Clamfest at Huddy Park – taking place from August 1st through August 3rd at various times. Though the name might suggest otherwise, you don’t have to be a self-proclaimed seafood lover to enjoy the weekend. In addition to the array of seafood offerings – there will be food trucks selling festival favorites, a beer, wine, and sangria garden (for those ages 21+), live music, and a fireworks display on Saturday. There is no entry fee to attend. You can find more information here.

August 2

Latino Festival (New Egypt) – Bring your friends and family to Laurita Winery to enjoy a weekend of Latin culture and cuisine, taking place from 12pm-9pm on Saturday and 12pm-7pm on Sunday. There will be an array of food trucks, live music, and local vendors to enjoy all weekend – with a side of wine (for those ages 21+). Supervised children are welcome and can enjoy a clown and facepainting artist, as well as an outdoor playground. Admission is $14, and there will be various wine and dine options available for purchase. Click here to learn more and to buy tickets online.

August 5

Cardboard Boat Regatta (Manahawkin) – See how far cardboard, tape, and creativity can take you at Manahawkin Lake Park beginning at 4pm. Your vessel (constructed only of cardboard and tape), will be put to the test to make a successful voyage across Manahawkin Lake. Boats will be inspected at 4pm and sailing will begin at 5pm. There is no fee to race or spectate, but you must register before the event to participate. Click here to learn how to register your boat and make a prize (and bragging rights) yours.

National Night Out (Howell) – Join Howell Township Police Athletic League for National Night Out at Soldier Memorial Park from 5pm-8pm. National Night Out is an annual event celebrated across the United States to promote safety and foster positive connections between citizens and local law enforcement – and an easy way to keep your young ones busy and having fun on a summer night. There will be live demonstrations, music, giveaways, and more. There is no entry fee to attend. Learn more here.

National Night Out (Little Egg Harbor) – National Night Out is also making its way to Little Egg Harbor, taking place at Pinelands Regional High School from 6pm-9pm. There will be a K-9 demo, live music, food trucks, face painting, bounce houses, a petting zoo, and more. There is no entry fee to attend. Learn more here.

August 6

Family Movie Night (Freehold) – There is a free family movie to enjoy every Wednesday through August 20th at the Hall of Records, beginning at 8:30pm. All you need is a lawn chair or blanket! This movie showing will be The Lion King 1 & 1/2. Click here to see the rest of the movies you can catch this summer.

Italian Festival (Oakhurst) – If you’re looking to mangia, mingle, and make memories with the whole family – explore the Italian Festival at Joe Palaia Park, taking place from August 6th through 11th at various times. It wouldn’t be an Italian festival without the chance to sample traditional foods, enjoy wholesome family fun, and immerse yourself in Italian-American heritage and culture – and this festival offers exactly that. There is no entry fee to attend. There will be food and ride tickets available for purchase. Click here to learn more.

August 8

Sidewalk Sale (Red Bank) – The pavement isn’t only sizzling from the heat of the sun – there’s also hot bargains at the Annual Sidewalk Sale, taking place August 8th through 10th from 10am-6pm. The Sidewalk Sale will get you strolling along the sidewalks of Red Bank to shop and support local businesses at the same time. There is no entry fee to attend, but we can’t promise you won’t shell out your wallet for something that catches your eye! Learn more here.

August 10

Funky Flea Market (Long Beach Island) – Calling all thrifters, vintage-lovers, and garage-salers – come on down to the St. Francis Community Center Gym from 9:30am-3pm for an event that is part garage sale, part craft show, and all treasure hunt! Whether you are drawn to garage sales for the charm, craft fairs for the creativity, or thrifting for the vintage finds – the Funky Flea Market promises to help you find your next favorite thing or inspiration for your next project. Admission is $3. Click here for more information.

August 13

Summer Concert Series (Howell) – Catch the final performance of Howell Township’s Summer Concert Series at Soldier Memorial Park, beginning at 5pm. A DJ will be spinning tracks to enjoy as you arrive, check out the food vendors and beer & wine garden (for those ages 21+), and gear up for the band to take stage at 7pm. The final performance is by Garden State Radio, who promises a night that feels more like a stadium concert than a local cover band in the park. The concert ends with a fireworks display. There is no entry fee to attend, but there will be food and alcoholic beverages (for those ages 21+) for purchase. Click here to see how you can enjoy a fun-filled night of music.

August 15

Feel Good Fest (Toms River) – Feel Good Fest is bringing “feel good” vibes at Brew Grounds Café from 4pm-8pm. We mean it when we say Feel Good Fest has something for the whole family to enjoy – it’s not every day you come by a festival that has a car show, farmers market, family-fun activities, food trucks, yoga & wellness, massages, and more – all in one place! There is no entry fee to attend. You can find additional information here.

Sunflower Festival (Lacey) – The Sunflower Festival has bloomed at Argos Farm, open select Fridays through Sundays from 3pm-8pm between August 15th and 31st. The fields are budding with photo opportunities and sunflowers to be picked and displayed – or given to someone special. There will also be live music, farm-fun activities, and tasty treats to enjoy as you stroll through the fields. General admission is $12.95 in advance and $21.95 at the gate, children ages 2 and under are free to attend. You can learn more here.

August 16

Butterfly Tent Event (Toms River) – Fly over to the Butterfly Tent Event at Rutgers Cooperative Extension of Ocean County from 11am-3pm if you want to incorporate science into your summer fun. You will have the chance to walk through a display tent and learn about everything butterflies. There will also be activities and educational stations for children of all ages. There is no entry fee to attend, but donations are welcome. You can find additional information here.

August 19

Summer Concert Series (Toms River) – Bring a blanket or a chair to rock out to some tunes at this installment of Toms River’s Summer Concert Series at Shelter Cove Beach at 7pm. You will enjoy the musical talents of The Benjamins, followed by a fireworks display. There is no entry fee to attend. Click here for more information and the list of bands you can enjoy through August 26th.

August 23

Kidchella by the Monmouth Moms (Holmdel) – This family-friendly spin on the Coachella Music Festival is kicking off at Bell Works at 5pm. Kidchella is replacing the beer gardens with inflatables and the fashion with face painting – but staying true to its name with a DJ, live music, and a dance party. There will also be a petting zoo, crafts, lawn games, and an indoor night market with bites, sips, and activities from local vendors for the whole family to enjoy. Tickets are $20 per person, and children ages 2 and under are free to attend. Click here to see how you can give a kid-friendly Coachella experience to your little ones.

August 24

Movies on the Beach (Seaside Heights) – Enjoy the last installment of Seaside Heights’ Movies on the Beach at 8:30pm. Audience members will be seated on the beach in the vicinity of Beach Patrol North Headquarters for a free showing of Sonic 3. Viewers are welcome to bring snacks. Learn more here.

August 28

Kites and Castles (Lavallette) – Head over to Philadelphia Avenue at 7pm if you have sand castle skills or kite flying that you want to show off. Whether you’re building a sand fortress, taking your kite soaring high into the sky, or simply spectating – this event will bring out the whole family’s competitive edge as you compete for the grand prize. There is no entry fee to attend, but you must bring your own sand castle building materials, props, or kite. Click here to learn more about this family-fun evening.

August 30

BBQ & Craft Beer Festival (Oceanport) – Saddle up for a weekend of barbecue and craft beers at the Monmouth Park Racetrack, taking place August 30th through September 1st from 11am-5pm. There will be over 40 craft beers and 20 barbecue food vendors to peruse – oh, and there will be horse racing, too! If there are too many craft beers to choose from, you can partake in beer sampling if you are 21 or older. There will also be family-fun activities to enjoy like live music, face painters, pony rides, and a bounce house. Tickets for beer sampling and general admission to the racetrack can be purchased in advance for $18, or on the day of ($15 for beer sampling and $6 for general admission) to the racetrack. Children ages 12 and under are free to attend. Click here for additional information and to purchase tickets online.

Shred It or Set It and Forget It? A Guide on Documents to Keep vs. Shred

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From simple pieces of paper like sales receipts, to those that encapsulate your identity like a birth certificate – deciding how to classify personal documents can be a challenge. Properly identifying documents to keep or shred, not only declutters your life – but also plays an important role in protecting your identity. Let’s take a look at what documents you should consider shredding or keeping, and how you should store the ones you aren’t parting with.

Immediately Shred

The below documents can generally be discarded as soon as you receive them or are notified of their expiration, so long as they are shredded.

  • Sales receipts – Unless you anticipate that you will need to make a return.
  • ATM receipts
  • Expired warranties
  • Expired credit cards and driver’s licenses

Keep for a Year – Then Shred

  • Bank statements
  • Pay stubs
  • Paid, undisputed medical bills
  • Credit card and utility bills
  • Deposited checks

Pro tip: If you can access these documents electronically, you should consider shredding your paper copies.

Keep for Seven Years – Then Shred

You might notice that the below list of items are all tax-related. The Internal Revenue Service (IRS) can audit you at any time in certain circumstances, so it’s best to hang onto your tax return documents for at least seven years.

  • W-2s
  • Tax-related receipts and cancelled checks
  • Records for tax deductions taken

If you have questions related to tax documents you should hang onto, consult an accountant or your local Taxpayer Assistance Center office.

It Depends

The below items have varying dates on how long to keep the paperwork around.

  • Loan documents. In the case of certain loans, such as auto loans or student loans – it is generally recommended to keep paperwork related to the loan until it’s paid off. This can include the loan agreement and a record of your payments.
  • Property records. You will want to keep the title and deed to your home as long as you own the home. Additionally, you will want to keep records of expenses related to major home improvements until you sell your home, as this will become important should you decide to sell.
  • Sales receipts and warranty information for major appliances. Keep the receipt and warranty information while you own the particular appliance, should anything go wrong.
  • Title to your vehicle. Keep the title while you own the vehicle to prove ownership. When you decide to sell or trade-in the vehicle, you will be required to give the title to the dealership or the new owner.

Forever Documents

There are some documents that you should never part with – and lock up while you’re at it.

  • Birth certificate or adoption papers
  • Social Security cards
  • Valid passports and citizenship or residency papers
  • Marriage licenses and divorce decrees
  • Wills, living wills, power of attorney, retirement and pension plans
  • Death certificates of family members
  • Vital health records (especially records that aren’t stored electronically)

Looking to Shred Documents?

Properly disposing of documents with personal or financial information can help protect your identity. Here are some ways you can safely shred your documents.

  • Local shred events. There are various organizations that will host shred events, such as banks, credit unions, and local municipalities. Check your town’s website or local Facebook groups to see when one nearby may be taking place.
  • Several retailers such as Staples, FedEx, and UPS Stores – offer shredding services. Call the local retailer you select in advance, to ensure the service is available at that particular location.
  • Purchase your own shredder. Research shredders that might be right for you, depending on the volume, type, and security requirements of the documents you expect to shred.

It is important to note that the above guidelines for keeping and shredding certain documents are general suggestions, with experts sometimes offering varying advice. The guidelines depend on various factors, such as the type of document and the legal requirements or expectations associated. If you are ever unsure, it might be best to err on the side of caution and keep and safely store the document in question longer than might be necessary. You can also consult the issuer of the document for questions.

If you have questions related to documents associated with your First Financial accounts – don’t hesitate to call us at 732.312.1500 or visit your local branch.

Getting Married or Cohabitating Later in Life

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Sometimes life gets in the way of love, keeping people from “walking down the aisle” until later in life. If you’re middle-aged or older and are planning to get married or cohabitate with your partner, there are some potentially awkward issues you should probably talk about to make sure you’re on the same page.

Later-in-life marriages often come with strong tethers to people, places, accounts, and things that can complicate decisions and actions—whether it’s your ex-spouse, kids, grandkids, aging parents, debt, personal goals, or something else. It’s a good idea to be sure your trusted partner knows where you stand on these—and that your partner is willing to share similar information with you. Find a comfortable place to sit, chat, and share information about your assets, your goals and expectations. Also, talk about income, bills, and who will pay what—and when—while you’re living together.

Bowling Green State University’s National Center for Family & Marriage Research reports that 28% of 45-to 64-year-olds, and 31% of those 65 plus—are remarried.1 Whatever the reason, there are both advantages and disadvantages to getting married later in life—or to cohabitating, which increased 75% for those 50 and older between 2007 and 2017, according to Pew Research.2

The potential benefits of marrying later in life include:3

  • Problem solving: Your experience and maturity give you and your partner better problem-solving skills and a stronger understanding of the importance of working together to accomplish goals, and overcome difficulties.
  • Combined incomes: Combining incomes and assets—and potentially selling or renting your home or your partner’s home—can create a healthier financial situation.
  • Tax benefits: Getting married gives you and your partner substantial financial and tax benefits. Also, married spouses can receive an unlimited amount of assets from their spouse without having to pay estate taxes.
  • Longer lives: Single men and women don’t stay as healthy or live as long as their married counterparts, according to a study published in the American Journal of Epidemiology.4

The potential problems that can be created by marrying later in life include:5

  • Lack of communication and financial agreements: Some older adults are reluctant to share information about their assets out of concern that the information may influence their partner’s decisions—including about their own healthcare if they become severely ill or incapacitated. For this and other reasons—including the potential for a “gray divorce”—a prenuptial agreement and a well-thought-out estate plan can give you confidence.
  • Higher medical costs: Medical expenses rise as we age, and you will be responsible for your spouse’s debts. Eventually you and/or your spouse may need to go into an assisted living/nursing home.
  • Responsibilities for children from previous relationship: If one spouse has children from a past relationship, the other spouse might have to share the financial responsibility, as a couple.

Other Considerations for Older Couples

A growing number of older couples are choosing to cohabitate instead of get married. Between 2000 and 2020, cohabitation among couples older than 50 quadrupled.6 Reasons included their desire to pass their assets to their kids, and to be able to retain Social Security benefits or alimony from their former spouse.6

Because of potential financial complications for older couples, it’s a good idea to talk to a trusted advisor, accountant, and/or estate lawyer to help you and your partner navigate and avoid potential stumbling blocks that could send you down the road to “gray divorce.” According to the American Bar Association, couples 50 years old and older currently make up a 25% of all divorces, and those 65 and older make up 10%.7

Questions about this topic? Contact First Financial’s Investment & Retirement Center by calling 732.312.1534.  You can also email mary.laferriere@lpl.com or maureen.mcgreevy@lpl.com

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal.

Prior to investing in a 529 Plan, investors should consider whether the investor’s or designated beneficiary’s home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in such state’s qualified tuition program. Withdrawals used for qualified expenses are federally tax free. Tax treatment at the state level may vary. Please consult with your tax advisor before investing.

1. AARP, June 2, 2023: Financial Checklist for Remarrying After 50

2. Pew Research Center, April 6, 2017: Number of U.S. adults cohabiting with a partner continues to rise, especially among those 50 and older

3. and 5. Senior Care Lifestyles: The Pros and Cons of Marrying Later in Life

4. NBC News, August 18, 2011: Single people may die younger, new study finds

6. Time magazine, September 19, 2021: Why Older Couples Don’t Need Marriage to Have Great Relationships

7. American Bar Association, March 9, 2022: 70s are the new 50s: How Grey Divorce Differs from a Typical Divorce

This material was prepared by LPL Financial, LLC

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