Retirement

Rusty had paid for a long-term care policy for many years. Then, one day, his daughter found a cancelation notice for nonpayment of premiums sitting on his desk. “Dad, why are you not paying the premiums for this policy?” “Because I have Medicare and my pipe-trade’s policy. I don’t need that one.” “Dad, get out

Millions of Americans do not save enough for retirement, not because they don’t want to, but because they face systematic obstacles to doing so. One such obstacle is a tax code rigged to benefit the highest earners. Congress took one small step (among other, ineffective steps) to fix this by creating a federal saver’s match

What is it and is it fair? There is much discussion as to whether the Social Security Windfall Elimination Provision (WEP) is fair. The WEP provision was signed into law on April 21, 1983. This article is not written to sway your opinion one way or the other but to share the theory behind this

I am so happy to have some good news for Roth IRA investors finally. For 2023, the Roth IRA contribution limit will finally be increasing. While not life-changing, the new 2023 Roth IRA contribution limit is $6,500. This is up from the $6,000 Roth IRA limit in 2022. Why should you care about an increase

To be sure, I’ve pretty much just invented the term “reverse nudge.” But here’s a definition: A reverse nudge is threshold, cut-off or similar characteristic of a policy by a governmental body, educational institution, employer, or similar entity which has the unintended effect of directing individuals to unwise behavior for their particular circumstances. That’s a

(083110 Brookline, MA) Mayela Fernandez is a full-time caregiver of her mother, Digna Salazar, who … [+] suffers from dementia, Tuesday, August 31, 2010. Staff photo by Angela Rowlings. (Photo by Angela Rowlings/MediaNews Group/Boston Herald via Getty Images) MediaNews Group via Getty Images I wrote last week about having a difficult conversation with your “first

Introduction Tax reimbursement clauses are a common clause in many trusts. Why are they used? Why are they important for you to understand? What Is A Grantor Trust? To understand the use of a tax reimbursement clause you need to first understand what a grantor trust is and how it works. When a trust is

For some time now, people have recognized the Child IRA as one of the most powerful retirement savings tools available. Why does the Child IRA, despite its obvious advantages, have so many obstacles? For one simple reason: It requires the child to have a job. The ideal Child IRA starts with your child working as

Key takeaways Salesforce is cutting 10% of its global workforce, equating to around 8,000 jobs which will be lost. Amazon is also cutting a much higher number of employees than originally planned, with their figure of 10,000 cuts revised up to 18,000 Rumors continue to swirl that Google parent company Alphabet will be laying off

As the old idiom goes, you’ve got to be in it, to win it. That’s certainly true of investing. But with fears of recession around the corner, along with 2022 losses that we haven’t experienced since the Great Recession of 2008, it’s easy to see why one might hesitate to enter the market today. For

Key Takeaways An analyst from JP Morgan has highlighted just how similar the stock market and bond market is behaving compared to the 1969 recession. Not only that, but there are a range of economic factors that look eerily similar too, such as rising oil prices, increasing interest rates and substantial government stimulus. So how

Twice over the past few weeks I’ve heard a variation of the same story: An older adult tells her primary care doctor she is feeling severely depressed. Each time, the physician responds by saying depression is normal for seniors. Something like, “What do you expect? You’ve got aches and pains. Your friends are dying. It

The beginning of the new year is a good time for pre-retirees and retirees to reflect on their goals and recent events that may have affected them. You’ll feel better if you make sure you’re still on track to be financially secure for the rest of your life, no matter how long you live and

Most journalists will go crazy saying Decembers’ jobs report is terrific. Indeed, 223,000 jobs were added and prime-aged women (aged 35-44) are going back at work. But the unemployment rate for workers over age 55 increased from 2.5% to 2.7% And there are more clouds in today’s report. Workers are not acting as feisty as

During the holidays you may have noticed how your relatives have aged and couldn’t help but reflect on your own genetics. Face it. At some point you’ll have to ask your “first degree” relatives – those who share half of your genetic information like siblings and parents (and offspring) — embarrassing questions. The holidays might

Nursing homes have probably been the absolute last choice of where to go for any impaired elder in need of some care. The average age of a nursing home resident is 86. Many folks are there because they have no other option. About 60% of the 1.4 million residents receive Medicaid as their only payment

The S&P 500 lost 18.11% during 2022, when you include the return from dividends. If you’re retired or soon-to-be retired, should this development be a cause for concern? You might not have reasons to be worried if you implemented a strategy that prevents you from experiencing life-changing losses and if you can maintain a positive

Is the Secure Act 2.0 a game-changer for retirement savings? A set of modest but real improvements? Or a costly giveaway to the rich? Yes, I’m late to the party in writing about this legislation, included in the omnibus spending bill signed by President Biden last week. Summaries of the key provisions can be found

There are pluses and minuses to moving anywhere far away from what you are used to; things you will gain and things you will give up. In this article, I’ll describe what you would have to give up if you moved to Mexico. I separated my list into two groups: things you will objectively have

This is the year to pursue the dream: Quit your job and move to one of the cheapest (and best) places to live in the world, a country where it costs so little you might be able to stop working. For the past six years, I have been examining the cheapest countries to live around