Irvine, CA (PRWEB) February 12, 2011
The latest MoneyNing.com post offers readers strategies for saving money when providing for their elderly parents and minor children. The post covers the various tax credits available to the “sandwich generation” at http://moneyning.com/.
The Baby Boomer generation, known for its independent thinking, has often been the catalyst for change and innovation over the past sixty plus years. Marked by an endless series of “firsts,” Boomers--who are now entering retirement--are among the first to have both dependent children and dependent parents. This unique situation is forcing many to consider their kids and their parents when drawing up their will.
According to a recent Forbes Magazine article, many of the Baby Boomers sandwiched between aging parents and minor children, are including both in their estate planning. Some Baby Boomers worry about who will provide continued care for their parents if they die before them.
Philadelphia estate lawyer Kelly Philips Erb was quoted in the article saying, “A lot of clients are concerned about what would happen to their parents if they predecease them.”
MoneyNing.com, a personal finance blog, addresses the sandwich generation in its recent post Sandwich Generation are Eligible for Tax Relief for Supporting Parents. The various tax credits available to this sub-group of Baby Boomers aides them in saving money, while continuing to provide care for those who depend on them.
The post's author explains, “More than 60% of Baby Boomers are actively helping a parent and half of them also have children under 25. These members of the ‘sandwich generation’ … may be able to claim up to $3,650 qualifying relative exemption for supporting their parents.”
David Ning created MoneyNing.com, a personal finance blog, to help others understand the principles that are foundational to good money management including saving money, spending frugally and investing wisely.
MoneyNing.com has been offering up straightforward, no-nonsense advice for saving money since its launch in 2007. Since then MoneyNing.com has attracted a following of more than 300,000 monthly visitors and the attention of various news syndicates. Posts from the personal finance blog have been featured on the NYTimes.com, Time.com, and USNews.com.
Subscribers of MoneyNing.com receive a copy of David Ning’s eBook How to Save Money on Everything. They also receive a weekly newsletter and are given access to a mini course on frugal living and saving money. Go to http://moneyning.com/announcements/the-free-frugal-email-newsletter/ to subscribe.
Visit MoneyNing.com to read the Sandwich Generation are Eligible for Tax Relief for Supporting Parents post in its entirety.
Or, to learn more about saving money on other costly expenses visit http://moneyning.com/.
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