The Oxford Oracle

Nobody likes to think of their parents getting older and needing assistance, but it’s a reality many of us face. An important part of caring for your parents as they age is identifying and protecting them from elder financial abuse. Baby boomers and the Silent Generation are getting older and with their accumulated assets, they have a higher chance of being defrauded than those who are younger. According to one estimate, seniors collectively lose up to $30 billion a year to elder financial abuse.¹ This abuse can come from total strangers, or even friends and family members.

According to a recent survey, 87 percent of U.S. adults feel that the risk of becoming a victim of a cybercrime is growing.¹ In fact, online crimes including server breaches are the single largest criminal threat facing small businesses.

Are you considering going on a trip over the holidays? Whether you are just visiting relatives for the weekend or enjoying a new location, traveling during the COVID-19 pandemic is nerve-wracking. But if you have decided to travel, there are a few tips to travel safely while still saving money.

With the New Year upon us, it’s time for retirement plan sponsors to think about the year ahead. For employers and businesses, this means thinking about the future of their company and their employees. Here are four things every plan sponsor should consider in the coming year. 

On Tuesday, October 13, 2020, the Social Security Administration released important facts and figures for 2021 - including cost-of-living adjustments (COLA) for retirees and tax changes for the currently employed.

Open enrollment (the annual period where you can enroll in major medical health insurance plans), begins November 1, 2020 and will remain open for 45 days, or until December 15. For someone looking to change or add coverage, this offers a short window of time to decide on and select your health insurance plan. Before rushing a decision to meet this deadline, take some time now to review and prepare. Below we’ve rounded up our top tips for choosing the right health insurance plan for you and your family’s needs. 

Medicare’s open enrollment period happens once a year between October 15 and December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year. This can be a useful option for those who may have recently changed medication, underutilized their current coverage or found they could use additional benefits.

Sex, lies and accusations of corruption - no election year is complete without them. And while the 2020 election has proven to be one of the most contentious in recent history, contention is nothing new in the world of politics. From the political match-up of Jefferson v. Adams to this year’s Biden v. Trump, mud has always been slung, accusations have always been made and many Americans have found themselves uncertain of a future under new (or unchanged) leadership.

It costs on average $233,610 to raise one child.¹ For most, that’s a significant chunk of change. If you and your spouse are curious about the financial ramifications of having a child earlier or later in life, there are plenty of pros and cons to consider.