Category: Money Matters

Is an Annuity a Good Choice for You? Here are the Questions to Ask

Annuities can help you save for retirement, reduce risk, cut your taxes and guarantee a lifetime income. But they’re not right for everyone. How can you tell if an annuity is right for you? And if one is, what kind would best meet your needs? Deferred annuities—fixed, variable and fixed-indexed—help you save more for retirement… Continue reading Is an Annuity a Good Choice for You? Here are the Questions to Ask

With Outlook for Stocks Dicey, Investors—Especially Older Ones—Need Ballast in their Portfolio

A short-term downturn isn’t the only risk of investing in stocks. They can underperform for a decade or longer. The S&P 500 Index produced a -3 percent annual return over the ten years ending in February 2009, giving investors a big loss. Most experts say the market is very unlikely to produce the type of… Continue reading With Outlook for Stocks Dicey, Investors—Especially Older Ones—Need Ballast in their Portfolio

Fear, Greed and the Financial Hazards of Emotional Investing

He was a successful dentist who managed his own money his entire life and prided himself on his financial acumen. When he retired, he saw no reason to change. Instead of kicking back and enjoying a well-earned life of leisure, he became not only financially invested in the markets, but emotionally invested as well, much… Continue reading Fear, Greed and the Financial Hazards of Emotional Investing

3 Surprises to Watch Out for When Paying for Long-Term Care

More than 70 percent of Americans over the age of 65 will need long-term health care services, according to the U.S. Department of Health and Human Services. Yet, according to the Employee Benefit Research Institute, only 13 percent of those who received professional home health care had long-term insurance policies, which can protect seniors from… Continue reading 3 Surprises to Watch Out for When Paying for Long-Term Care

5 Tips When Looking for a New Job Over the Age of 40

When I look in the mirror, for the first 5 seconds I still see a twenty- year -old. Then the visible wrinkles around my eyes and jowls provide a friendly reminder that I’m not twenty anymore. At that moment in the mirror, I challenge myself physically as I don’t feel like I’m over forty, and… Continue reading 5 Tips When Looking for a New Job Over the Age of 40

A Psychiatrist’s Take on Why We Can’t Get Rich

We hate to lose. Ever search for hours for something you lost, and spend a fortune in time when you could have replaced it cheaply and easily? Or replace it only to find it later, and hate yourself for replacing it? Marketers and businesses know how to exploit our fear of loss — just think of eBay’s… Continue reading A Psychiatrist’s Take on Why We Can’t Get Rich

3 Factors That Can Keep Retirees Barely Hanging on Financially

They were an active and vibrant couple, determined that retirement wouldn’t slow them down. And it didn’t, at least not initially, as they golfed, participated in activities with their homeowners’ association, and otherwise stayed engaged with the world around them. But a few years into their post-working years the couple grew concerned about whether they,… Continue reading 3 Factors That Can Keep Retirees Barely Hanging on Financially

57 Percent of Americans Have Been Surprised by a Medical Bill

Fifty-seven percent of American adults have been surprised by a medical bill that they thought would have been covered by insurance, according to a 2018 AmeriSpeak® survey from the National Opinion research Center (NORC) at the University of Chicago. Respondents indicated that 20% of their surprise bills were a result of a doctor not being… Continue reading 57 Percent of Americans Have Been Surprised by a Medical Bill

When Retirement Is Just Around the Corner, These 3 Steps Can Help You Prepare

If looking ahead to retirement makes you a little nervous, you’re not alone. Nearly half of Americans (46 percent) who haven’t reached retirement predict that they won’t be financially comfortable once they get there, according to a Gallup survey. For some, those potentially uncomfortable retirement years are decades away. But for the Baby Boom generation,… Continue reading When Retirement Is Just Around the Corner, These 3 Steps Can Help You Prepare

Financial Literacy and Young Adults

Almost one-third of young adults are financially “precarious” because they lack money management skills and income stability, according to a new study. Some participants in another group in the survey said they skimped on health care because of lack of money. The findings come from researchers at the University of Illinois at Urbana-Champaign. Lead author… Continue reading Financial Literacy and Young Adults

Waiting for Higher Annuity Rates Is Unlikely to Pay Off

Is it a smart move to hold off buying a fixed-rate annuity because the Federal Reserve is raising short-term interest rates? It may seem reasonable, but it’s usually not a good idea. Annuity rates aren’t likely to rise as a direct result of the Fed’s hikes. Meanwhile, you’re getting a lower rate in a money… Continue reading Waiting for Higher Annuity Rates Is Unlikely to Pay Off

Is Your Partner Wrecking Your Financial Literacy?

As couples mature together, they often grow apart in their level of interest and skill in handling their finances. A disparity in financial literacy that may be small or even nonexistent at first can increase over time depending on how much responsibility one partner undertakes, according to researchers at The University of Texas at Austin… Continue reading Is Your Partner Wrecking Your Financial Literacy?

4 Life Changes That Warrant An Investment Tune-up

If you’re 45 to 65 and are going through some serious changes in your life, you should be thinking about these steps right now: Life Change #1: New Job The average American worker changes jobs every 4.4 years, and when they start a new job, their 401(k) plans don’t typically come along. In fact, the… Continue reading 4 Life Changes That Warrant An Investment Tune-up

Believing Annuity Myths Can Hurt You

People miss out on proven solutions to retirement saving and planning because they swallow myths and misconceptions. I HATE Annuities! screams the headline. The ad goes on to list what Ken Fisher, a famous money-manager, claims are the sins of annuities. Those ads have an impact. Many of our callers say they’ve heard that annuities… Continue reading Believing Annuity Myths Can Hurt You

3 Tips for Guarding Your Money Against Inflation

Inflation may be creeping up on Americans, which could mean your investments and retirement savings won’t be worth as much as you hoped. The average person doesn’t spend a lot of time thinking about inflation, but it isn’t something you can ignore if you hope to build a nest egg that can see you through… Continue reading 3 Tips for Guarding Your Money Against Inflation

Financial Decision-Making Capacity Need Not Decline in Healthy Advanced Aging

Research done in 2018 AT The Center for BrainHealth® at The University of Texas at Dallas showed that advancing age alone is not the defining factor in impaired financial decision-making. The study, published in Frontiers, assessed how – and whether – age influences cognitive processes that may be involved in financial decision-making. The researchers investigated… Continue reading Financial Decision-Making Capacity Need Not Decline in Healthy Advanced Aging

4 Ways to Reduce Risk in Your Retirement Plan

Many people are worried about their retirement from a money perspective. According to a survey by Transamerica, most workers think the financial challenges they’ll face in retirement will be harder to overcome than those that prior generations faced. The dwindling number of pensions, the uncertainty of Social Security and the volatility of investments give credence… Continue reading 4 Ways to Reduce Risk in Your Retirement Plan