With the financial distress of the economy, many are questioning whether their children will ever be able to secure a reliable paying job and earn the credit expected of a financially secure American.
Although this is certainly a pertinent question, more baby-boomers are also considering this concern in relation to their parents. Unfortunately, the elderly may not be in any better position to maintain their creditworthiness, especially when they have lower risk tolerance and earning power in their “golden” years.
Therefore, make sure you not only focus on raising financially secure children, but also that you are mindful of your parents’ financial security and creditworthiness.
To learn more about how to help your parents’ maintain their creditworthiness, read this.