Money Matters – Page 4

Want to Travel Post-Retirement? Here Is How to Get Started

When I was young, my parents loved to travel, and they always included my sister and me. That was the beginning of my love of adventure! I studied French and Spanish all through high school, and in my junior year, A.F.S., the American Field Service, brought four exchange students to our high school program from… Continue reading Want to Travel Post-Retirement? Here Is How to Get Started

Beyond the Bucket List: 5 Tips for Reinvigorating the Retirement Paradigm

Baby Boomers are heading into retirement in droves. Each day, about 10,000 close the doors to their offices for the last time. But, unlike generations before them, they can now look forward to potentially decades of vital life ahead of them. They represent the healthiest and longest living generation ever — translating to endless prospects for… Continue reading Beyond the Bucket List: 5 Tips for Reinvigorating the Retirement Paradigm

Retirees With a Guaranteed Income Are Happier & Live Longer

Retirees who are surrounded by their family and friends – and who also have a substantial check coming in every month for the rest of their lives – are much happier, according to a study published in The Wall Street Journal several years ago. They also live longer, studies show. That makes sense because the… Continue reading Retirees With a Guaranteed Income Are Happier & Live Longer

Common Challenges Young People Face in Choosing Health Plans

While recent grads are already worrying about student loan debts, there’s another pressing financial problem. In a recent survey, eHealth highlights the most common challenges young adults face in choosing health plans. 1. Sticking with Mom and Dad’s plan when moving out of state: If you’re moving to a new state after graduation, you’ll likely… Continue reading Common Challenges Young People Face in Choosing Health Plans

Two Ways to Get Lifetime Income

To get a guaranteed lifetime income in retirement, you can annuitize an existing annuity when you’re ready to begin receiving income payments. You can also buy a longevity annuity that will pay a lifetime stream of income starting at a future date you set. Another option is to buy a fixed indexed annuity and add… Continue reading Two Ways to Get Lifetime Income

What You Must Know About Hospital “Observation Status”

In a hypothetical scenario, let’s say you break a hip. A call to 911 gets an ambulance to your door and you’re whisked off to the Emergency Room of your nearest hospital. Once there, you are given papers to sign. You do so without reading them closely. You end up in a hospital bed. What… Continue reading What You Must Know About Hospital “Observation Status”

Does Your Retirement Plan Pass the 3-Point Check-Up?

If you’re like most people, you started a retirement account like a 401(k) or IRA years ago because your employer offered it, or you were taught that’s what people do to save for retirement. But your financial goals and objectives have likely changed dramatically since then, as well as your tolerance for risk and surprises.… Continue reading Does Your Retirement Plan Pass the 3-Point Check-Up?

How to Protect Yourself Against Mortgage Fraud

Mortgage fraud occurs when a potential homebuyer, seller, or lender lies or omits key information that leads to a mortgage loan approval or terms that the applicant wouldn’t normally qualify to receive. And unwitting consumers can find themselves caught in the midst of such scams by unscrupulous lenders or brokers.. For homebuyers, the key to… Continue reading How to Protect Yourself Against Mortgage Fraud

3 Tax-Savings Ideas to Help Seniors with Long-Term Care Expenses

One huge expense awaiting a large percentage of Americans near the end of their lives is long-term care. Coming up with the money to pay for a nursing home, an assisted living facility or other such care isn’t always easy. What many seniors and their families don’t realize, though, is that there are tax deductions… Continue reading 3 Tax-Savings Ideas to Help Seniors with Long-Term Care Expenses

2017 Tax Return Points the Way to Tax Savings in 2018 and Beyond

Your 2017 tax return provides valuable clues for planning for your 2018 taxes. But with tax reform, the exercise is more complicated this year. When reviewing your 2017 return, look for things that cost you money. Take a few extra minutes and start planning for 2018. For example, you may have an investment that has… Continue reading 2017 Tax Return Points the Way to Tax Savings in 2018 and Beyond

Want to Do Better Than Bonds? Consider Fixed Indexed Annuities and Fixed-rate Annuities

Bond yields are low. How can investors get a better return without taking on more risk? Both plain fixed-rate annuities and more complex fixed indexed annuities (FIAs) can beat bonds. A new study* from famed economist Roger Ibbotson says that investors should consider FIAs as a low-risk bond alternative likely to produce better returns. Ibbotson’s… Continue reading Want to Do Better Than Bonds? Consider Fixed Indexed Annuities and Fixed-rate Annuities

Maturing Life Insurance Policies Create Tax Bills and May Shortchange You

Permanent life insurance isn’t quite permanent. Many permanent policies mature at age 100, sometimes at 95, and then pay out the cash value to the policy owner. If you outlive your policy, you and your heirs can suffer adverse tax and financial consequences. After years of paying premiums for a policy you expect to remain… Continue reading Maturing Life Insurance Policies Create Tax Bills and May Shortchange You

Bear Market Plus Withdrawals in Retirement Can Cause Portfolio Death Spiral

If you’re a retiree with an equity-heavy portfolio and have to make a withdrawal in a bear market during the early years of your retirement, you can dig such a hole that your savings will never recover. Consider a retired couple with a $1 million portfolio. During their first year of retirement, the market drops… Continue reading Bear Market Plus Withdrawals in Retirement Can Cause Portfolio Death Spiral

4 Reasons It’s Urgent to Understand the Cost of Growing Old

Many young, healthy Americans may not realize that they share something troubling in common with each other. There’s a good chance they could spend the later years of their lives in long-term care, a situation that might drain their finances and leave them dependent on the government to survive. Families go broke quickly trying to… Continue reading 4 Reasons It’s Urgent to Understand the Cost of Growing Old

Money Buys Happiness – but Only Up to a Certain Amount

In order to be happy, researchers say, you don’t need unlimited amounts of money. “That might be surprising as what we see on TV and what advertisers tell us we need would indicate that there is no ceiling when it comes to how much money is needed for happiness, but we now see there are… Continue reading Money Buys Happiness – but Only Up to a Certain Amount

How to Overcome Investor Paralysis

Many people feel paralyzed about investing, especially if they’ve invested little or nothing in the market before. Investors are bombarded with conflicting messages about whether the stock market will continue hitting new highs or is a house of cards waiting to self-destruct. If the experts are so unsure, it’s understandable that the average investor can’t… Continue reading How to Overcome Investor Paralysis

Longevity Insurance Is Underused in Retirement Planning

More people are living into their late 80s, 90s and even past 100. But longevity isn’t so great if you run out of money. To avoid that risk, you can buy longevity insurance. It’s a special kind of deferred annuity that assures you’ll have a guaranteed income forever, even if you live to 100 or… Continue reading Longevity Insurance Is Underused in Retirement Planning