The death of a spouse is one of the most difficult things imaginable. Besides the emotional toll, surviving spouses typically confront financial issues, which often trigger tax-related questions and consequences. Some of them are fairly straightforward, while others can be tricky. Siding with caution, it is recommended to reassess finances from a tax perspective. The …
When it comes to retirement, expectations and reality may collide, resulting in what might seem unthinkable – sudden retirement. Unexpected retirement can throw a wrench in the best-laid plans, or worse, force a need for fast planning if none exists. While Americans anticipate, on average, to retire at age 66, the average retirement age is …
Forced Retirement – Tips To Help You Bounce Back Read More »
Seniors should exercise for at least 30 minutes a day, five days a week, according to the National Institutes of Health.1 But if hitting the gym every day does not fit your vision of a satisfying retirement, you can meet this guideline by sticking to the physical activities you enjoy. Here are some of the …
Inflation has soared over the past year. Some think the new infrastructure legislation will add to inflation, and interest rates are set to rise through 2022. These are the three I’s causing particular concern among retirees and those who are nearing retirement. What kind of impact could inflation, infrastructure, and interest rates have on their …
It’s difficult to think about what may happen if your health starts to decline – or how your loved ones will carry on after your death. But doing nothing to plan for these events could result in losing control over your affairs while you’re still alive, and undesired confusion and anger after you’re gone. You …
Estate Planning Checklist: What To Do Now While You’re Still Well Read More »
After saving money in a 401(k) or IRA for decades, the last thing you need is a stock market downturn at the start of your golden years. Market selloffs are always painful, but they pose a greater risk when they occur early in retirement, when you’re no longer earning a paycheck and are withdrawing money …
If you’re putting together an estate plan, you have no doubt heard about the benefits of a living trust. Assets placed in a trust won’t go through probate, a time-consuming and potentially costly process. In addition, a living trust, also known as a revocable trust, allows you to designate a trustee to help manage your …
For decades, financial advisors have used the metaphor of a “three-legged stool” to describe America’s retirement system. The equation for late-life security is having a healthy pension from work, ample personal savings, and a monthly Social Security payment. Of those income streams, only Social Security has proven to be steadfast and strong. Here are important …
Dispelling myths, dispelling rumors and misinformation is an ongoing battle for financial advisors. Estate planning is a topic especially prone to myths, starting with the belief that it’s only for the rich. There are many myths about estate planning and what it is and what it isn’t. Here are the key ones. Myth #1: I’m …
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