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Editor’s Letter: AARP Wants to Help You Get Your Financial House in Order

BETWEEN US

Margaret Guroff INTERIM EDITOR IN CHIEF

How to Cope With Money Worries

AARP wants to help you get your financial house in order

Collage of three image: a woman looking at a tall grocery cart, a man standing in the hole in his roof, a woman holding a hula hoop on fire while a lion made of dollar bills jumps through it. There are 2 torn pieces of paper with the text The rising cost of food is busting my grocery budget and I need a new roof, but I’m afraid a contractor will rip me off.

“EVERYONE is nutty about money in one way or another,” says George Mannes, this magazine’s personal finance editor. “Sometimes I’ll spend $20 and think nothing of it. Other times, if I suspect I’m being overcharged $1, I’ll get physically upset. That’s nuts.” There’s a whole field of economics devoted to people’s not-always-rational financial behavior, George adds.

When you’re feeling stressed, you don’t always make the wisest money decisions, research confirms. But also, money worries are themselves a key source of stress, especially if you have kids or parents—or both—who depend on you. How to cope?

In “Money Stress and How to Tame It,” George and a team of writers offer answers, tapping finance experts for advice on handling some of the most common money stressors for people over 50. The core message: Even if you’re feeling overwhelmed or hopeless about a money problem, it’s always better to face it than stay stuck. “Tiny moves can improve your situation and will help you feel better,” George says. And that mood lift will help you make better money decisions in the future.

AARP’s website offers plenty of resources to help you get started. You can find educational webinars and online classes at aarp.org/moneylessons. AARP Foundation also offers resources that help strengthen the financial resilience of older Americans, including free income tax preparation through the Tax-Aide program. (See “Tax Time Blues? AARP Foundation Can Help.”) Visit aarpfoundation.org/donate to support the foundation’s work.

Not every source of financial stress is within your control, of course. You can’t reduce the price of gas or groceries by yourself. But when you’re an AARP member, your dues support the association’s efforts to make life after 50 more affordable, whether by advocating for retirement savings options at the state level or by fighting to protect the Social Security and Medicare programs you’ve paid into throughout your career.

From his decades as a personal finance journalist, George says, he has learned that the key to financial sanity is knowing where to devote your attention. “Focus on what’s in your control, not on what’s not,” he says. “That’s good advice for everything, not just for your money.”


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TAKE CHARGE!
Our online calculators at aarp.org/moneytools help you estimate taxes, predict
retirement income and more.

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