As memory slows, simple is best. Our personal accounting (no market involvement) goes like this:
Local bank is 1 minute away by car.
Checking account only... Approximately $10,000 base... 1.6% interest
All possible bills are now automatic.
The once or twice a year bills... House taxes, Insurances, HOA etc. are all paid by check. Total of maybe 25 checks/yr.
Credit Card, SS, annuity and other smaller incomes are automatic.
While the balance goes up and down by several thousands one way or another, keeping on top of the totals with the monthly statement is very easy. We've been doing it this way for about 10 years, and have never had a single problem. Leaving a few hundred dollars on the table, but well worth it. If and when we have to turn this over to a third party, it should be very easy to do.
Began after unraveling an incredibly difficult financial mess for a new widow in our Over 55 community where we lived about 15 years ago. Works well for us, as income is almost exactly the same as outgo.
No, nothing new, but I periodically hear about others our age... who run into complex problems, and need help from their kids or an advisor.
Local bank is 1 minute away by car.
Checking account only... Approximately $10,000 base... 1.6% interest
All possible bills are now automatic.
The once or twice a year bills... House taxes, Insurances, HOA etc. are all paid by check. Total of maybe 25 checks/yr.
Credit Card, SS, annuity and other smaller incomes are automatic.
While the balance goes up and down by several thousands one way or another, keeping on top of the totals with the monthly statement is very easy. We've been doing it this way for about 10 years, and have never had a single problem. Leaving a few hundred dollars on the table, but well worth it. If and when we have to turn this over to a third party, it should be very easy to do.
Began after unraveling an incredibly difficult financial mess for a new widow in our Over 55 community where we lived about 15 years ago. Works well for us, as income is almost exactly the same as outgo.
No, nothing new, but I periodically hear about others our age... who run into complex problems, and need help from their kids or an advisor.