Retirement

Why is it so hard for people in their 60s, 70s and even 80s to admit they are changing with age? Believe me, I hate “ageism” as much as the next person, but fighting ageism doesn’t need to be synonymous with denial of the reality of aging, especially by those who have crossed the age

One of my favorite financial planning clients represents a story that is part success, part sadness. Betty, we’ll call her, married young and became a widow not long after. She never remarried, worked as a legal secretary, and lived in a neighborhood in Baltimore that could only be described as “rough,” where she was robbed

You’ve completed all the estate planning documents your lawyer recommended, do you really need to take another step? Yep! A letter of instruction can be an invaluable part of your estate plan. No matter how wealthy you are (or are not yet!) and no matter your family situation, there is vital information that you should

Annuities are setting sales records, thanks to higher interest rates, lower stock prices, and aging Baby Boomers. It’s been years since annuities were able to offer payouts comparable to today’s, and the annuities protect your principal and guarantee lifetime income. Since many people have significant portions of their retirement savings in IRAs or 401(k)s, they

In May, inflation abated a bit and gasoline prices fell 19% — that should feel good at the household level. Inflation is mending and the general sentiment is that the Federal Reserve rate increases are on hold. What’s Your Inflation Language? How you refer to the current period of price hikes can signal what you

As the only capable adult child with two difficult aging parents, Liana’s situation is not unique. The burden of trying to keep them safe falls squarely on her alone. And she has avoided for too long the unpleasant subjects she needs to discuss with them. They are in denial. They resist. They get angry when

The U.S. sweats its workers the hardest! A new report by Oxfam finds that among 38 rich nations in the Organization for Economic Cooperation and Development (OECD), the U.S. is dead last among measures of wages, worker protections and labor rights. The U.S. ranks 36 out of 38 in wage policies, with Mexico at the

In May, inflation abated a bit and gasoline prices fell 19% — that should feel good at the household level. Inflation is mending and the general sentiment is that the Fed won’t raise rates tomorrow. What’s your inflation language? How you refer to the current period of price hikes signals what you believe causes inflation.

A Medicare Advantage PPO (preferred provider organization) plan is an important option for many Medicare beneficiaries. If you’re getting ready to enroll in Medicare or perhaps considering changing plans during the Open Enrollment Period in the fall, here are 10 important things to know. 1. There are two types of PPO plans. In 2023, 40%

June 15 is World Elder Abuse Awareness Day (WEAAD). Launched in 2006 by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations, WEADD serves as a call-to-action for individuals, organizations and communities to raise awareness about elder abuse, neglect and exploitation. Helping to protect and enrich

Congratulations! You’ve made it to retirement. All the working, planning and saving you’ve done over the last 30, 40 or even 50 years has led up to this moment. But just because you’ve reached retirement age doesn’t mean you can stop planning. Instead, it becomes even more important to continuously evaluate how your plan is

Peter contacted my company about his situation recently. He is 68 years old and still working. He enrolled in Part A two years ago because his company’s group health plan was terrible. He was probably going to need surgery and the hospital deductible was outrageous (his words). He changed jobs recently and his new employer’s

Imagine having multiple sclerosis and being in a wheelchair for 25 years. That was Eleanor, in Tennessee, feeling trapped. When her neurologist told her she would never improve, she refused to accept this pronouncement. She had a quality of defiance. Her thought: “Don’t tell me I can’t do something. I’m going to prove you wrong”.

“I can’t wait to retire and live on the beach!” In the last thirty years of being a practicing financial planner, I’ve heard some version of this sentiment more times than I can count. It may sound like a throwaway statement or a pie-in-the-sky type dream, but the fact of the matter is that deciding

You’ve seen the headlines. The United States Postal Service (USPS) has been losing money. (A recent USPS press release said it’s already lost $2.1 billion this year.) So, Congress passed the Postal Service Reform Act of 2022 (PSRA). The Office of Personnel Management (OPM) published the interim final rule on April 6, 2023, and it

A piece published by the American Bar Association’s Senior Lawyers Division reports on the international conference of the Alzheimer’s Association. The Division consists of lawyers over age 50. Health is a topic of interest to this group, of which I’m a member. A part of the conference focused on a study of the eating habits

Surprisingly, one of the first signs of mild cognitive decline can be suffering a financial loss due to making a mistake, such as not correctly completing an investment transaction, or becoming a victim of fraud or exploitation. In many of these situations, retirees are still highly functioning and don’t have severe symptoms of dementia or

Maria is a 90 year old, hardworking woman who raised four kids and some grandkids as well. She quit her humble work as a housecleaner when her husband fell ill. She stayed home to care for him. She also helped raise a grandson, when her son and his wife split up and left him to

Have you ever received a piece of news that instantly transported you into the future and changed the way you saw everything in the present? In mid-March, I was checking in with my wife by phone from a hotel room in Atlanta following the first completed day of my new job, and I could tell

As you make important decisions that affect your retirement, one key step will be to closely examine your retirement beliefs and assumptions. Doing so can help you avoid making serious mistakes and put you on the right path for making more effective decisions. People’s beliefs and assumptions about retirement are often based on examples of