We get our first lessons about saving and spending our money from our parents. That's why it can be particularly difficult for adult children to recognize when their own parents have financial troubles. Many Americans, however, have had to do just that, as the older generation-and their retirement nest eggs-were particularly hard hit when the markets melted down in 2008 and 2009. It can be embarrassing for parents to turn to their children for help, so they may conceal a problem until it's too late. Don't be afraid to raise the issue yourself by asking if your parents have been affected by the bad economy and what hardships it may have caused them. For example, if they haven't refinanced their home mortgage recently, it might be possible to cut their monthly payments by getting a new lo...
... cut their monthly payments by getting a new loan with a lower interest rate. If they have gone into... debt because of financial problems, a home equity loan might be the answer because they usually carrry relatively reasonable interest rates, and the interest on this loan may be tax deductib...
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