Retirement

The Millennials have taken so much generational bashing that it’s almost become passe. This apparently entitled bunch of the supposedly spoiled should have been the ruin of us all if they had lived down to their billing. How much more, then, should we fear the rise of Generations Y and Z? They will certainly lead

Eligible? One in five low to moderate earners eligible to receive a check from the U.S. Treasury aren’t aware that they need to take action now to claim a credit called the Earned Income Tax Credit (EITC). Why are people missing this opportunity to receive extra money? I don’t have the answer, but I’ll guess

In spite of all the changes to work-life over the past few years following the pandemic, one thing that has stayed consistent is the sense of burnout among employees. According to recent studies, more than one out of every two employees feel burnt out. It’s a trend that seems to cross industries. In my day

In response to the recent burst of inflation, the government increased Social Security benefits significantly in the past two years. But compared to average pre-retirement income, net benefits have been falling for decades. And the trend will continue. One big reason: Rapidly rising Medicare premiums that usually are deducted directly from Social Security checks. Think

For aging parents who were responsible enough to do estate planning, the lawyer who put their will and trust together had them appoint a power of attorney for finances (POA). If they picked you to do that, it’s likely no one gave you an instruction book to go with the role. Serving as the one

When a large, unexpected expense crops up, you don’t want to increase the cost by using a less-than-optimum way to raise the needed cash. Explore the options and select the best one for you. An unexpected cash need can spring from medical treatment, home repairs, taxes, and help for family members, among others. Of course,

Recently, one of my readers at Live And Invest Overseas wrote to me to ask whether she should buy property in Greece to qualify for residency under its golden visa program. She was considering the golden visa because she wanted more time in the Schengen Area than her U.S. passport allows (90 days in any

The battle goes on with aging parents who are living alone or without family nearby and their adult children. From the kids’ point of view, their parent is just not safe in that big house anymore, with the declines that often come with aging. Perhaps the elder has lost a spouse or partner and there

It is often said that the interest on home mortgages is “front end-loaded”, implying that the way lenders charge interest is both unfair and self-serving – possibly even sinister. The following statement is typical. “Did you know that on your typical 30-year mortgage, it takes approximately 21 years just to pay down less than half

Introduction So, Aunt Jane just asked you to be the trustee of her trust. You were flattered and, of course, accepted. But what did you get yourself into? Too many consumers readily accept fiduciary appointments with little thought of the headaches and liability they may face. While it can be admirable to help family and

There’s no such thing as “divorce benefits” in Social Security, but divorced spouses often are eligible to receive benefits based on an ex-spouse’s earnings record. Ex-spouses often quality to receive Social Security spousal benefits, and on fairly liberal terms. Divorced spouses sometimes have better options and more flexibility than current spouses. But small differences in

If you’re in your mid-50s or younger and are interested in retiring but you aren’t on track to save enough for a full retirement, you might want to consider “Coast FIRE.” It’s a variation on the “Financial Independence, Retire Early” (FIRE) strategy, where you make life choices that save a large amount of money so

Earlier this week, I wrote of the news that IBM IBM was reopening its defined benefit (DB) plan. Their announcement was noteworthy for two reasons— IBM is known for being a leader and changemaker in retirement funding, and Is IBM’s action a sign of a reversal of the decades-long trend of corporates moving from traditional

Married couples in or near retirement should know that the solo years, the period after one spouse passed away, usually are the most difficult period in retirement both financially and emotionally. The solo years are when most retirement plans are likely to fail or falter. The financial difficulties of the period could be reduced with

Introduction Ethical questions arise during many estate plans. Sometimes, these are ethical issues that you and/or your family may have to grapple with. Sometimes, the ethical issues that arise are ones that you create for your professional advisers. While the adviser has to determine how they will address those issues, their decision may affect what

Washington voters will decide the fate of the state’s path-breaking public long-term care insurance program in a referendum this Fall. If adopted, Initiative 2124 would make participation in the Washington Cares program voluntary, effectively killing it. The effort, largely bankrolled by hedge fund manager Brian Heywood and backed by prominent state Republicans, is the latest

After years of the decline of defined benefit (DB) plans for employee retirement, it was surprising to see IBM announce the reopening of its DB plan. Meanwhile, we continue to see headlines on the paucity of retirement savings workers have in their largely self-funded defined contribution (DC) plans. IBM’s traditional DB pension plan had $25.1

Those properly licensed people who help us manage wealth may not be fully informed about financial elder abuse. In exploring what their organizations do in this area, we have observed little training or inadequate training. ThinkAdvisor reports on a case involving a “court fight over a recently deceased grandmother’s $5 million IRA”, which, it states,

The tax-free quality of money in a 529 tuition savings plan can be continued, even after the education spending need has passed, thanks to a provision in the SECURE Act 2.0. But the rules aren’t simple or straight forward. The hurdles in the law mean the rollover isn’t available to many who would like to

With the dawn of another election year, even a cursory glance at the headlines serves as a reminder of how volatile and divisive U.S. politics have become. Add to that a string of global crises and conflicts, and the desire to somehow escape from the chaos becomes easily understandable. As the founder of Live And