Retirement

7 Steps You Need To Follow Many of us scrimped and saved to put money away for our children’s or grandchildren’s college expenses. And now the chickens have come home to roost: your eldest will start college this fall, leaving you to face the dilemma of how, when, and how much to withdraw from your

By Lori Volk, Next Avenue Just as I turned 50, the school district where I worked ran out of funding for my part-time position. My husband and I had taken out $350,000 in Parent Plus loans at 8% interest to pay room and board at college for our first two kids; they paid their own

Should you keep an eye on your broker? Let me share why that’s something to think about. Picture this: You are a high-net-worth individual, an entrepreneur, who made a fortune by living the American dream. Your business grew exponentially, giving you substantial liquidity when you sold it. Through a friend, you were introduced to a

As the economy tries to recover from the pandemic, worries of inflation, rising interest rates and the Ukraine crisis have increased the potential of a recession. This potential grew stronger with the release of the new gross domestic product (GDP) estimates released in July. The Bureau of Economic Analysis reported that GDP fell 0.9% from

Topline The stock market moved higher on Thursday despite U.S. economic growth contracting for the second quarter in a row, a significant recession indicator which spooked markets—though most experts argue that the economy is yet to fall into a true recession thanks to solid job growth and consumer spending. Key Facts Stocks moved slightly higher

Topline Stocks rallied on Thursday even after the U.S. economy posted its second consecutive quarter of negative growth which technically translates into a recession– historical data shows markets are likely to continue moving higher in the short-term with the understanding that investors have already priced in the bad news. Key Facts Stocks initially fell following

Many clients want to give their children full access to their inheritance but then control where the money goes after the children die. Most people will use a trust as the estate planning tool to accomplish this objective. However, it can be tricky to get it right. If the child has too much access to

Every family is different, but we see a recurring problem with many who have more than one adult child. It is the sense of entitlement to an inheritance. As most of us understand, you can do anything you want with your estate plan. Some famous people left everything they had to a cat or dog.

Topline The stock market jumped on Wednesday after the Federal Reserve raised interest rates by 75 basis points for the second consecutive month in a row, with Fed Chair Jerome Powell hinting that the central bank could slow the pace of rate hikes later this year. Key Facts Stocks surged after the Fed’s announcement: The

Topline The stock market moved slightly higher on Wednesday morning thanks to a boost from Big Tech stocks like Microsoft and Alphabet, which both rallied despite missing earnings estimates, while investors look ahead to an upcoming rate hike decision from the Federal Reserve this afternoon. Key Facts Stocks attempted to recoup losses from the previous

Before Medicare, you probably had coverage through an employer group health plan. During the annual enrollment period, there were two or three options available. You wanted the plan to cover your prescription medications but, beyond that, drug coverage was likely not a big factor in your decision. That all changed once you entered the world

Topline The stock market fell on Tuesday, with retail stocks leading declines after Walmart slashed its profit outlook for the rest of the year and warned that high inflation is having an impact on consumer spending, while new data showed consumer confidence hit its lowest point in over a year. Key Facts Stocks were under

Landing in Boston after a morning long plane ride without so much as a bag of pretzels, I was craving a bagel. I know what many of you are thinking. Although I have been a Bostonian for nearly 40 years, I must admit that a ‘Boston bagel’ is much like buying a ‘New York lobster

I Didn’t Think it Would Be Alzheimer’s Disease I didn’t think it could possibly be a diagnosis of Alzheimer’s disease, I had thought it was just (pick one): depression, vitamin deficiency, reaction/side effects to medications, thyroid disease, etc. People often will mistake the signs of Alzheimer’s disease for one of many other factors that can

Topline Shares of Walmart fell nearly 10% in after-hours trading on Monday after the company slashed its profit outlook for the second quarter and rest of the year, warning that high inflation is having an impact on consumer spending habits. Key Facts The nation’s largest retailer announced that it was lowering its profit outlook for

Here’s a different kind of “bucket list” for you. It’s not exactly the things you want to do, but it may be related to them. What it does do, however, is make it easier for you to manage your retirement investments. But be careful. If you’ve immersed yourself too much into financial terminology, this concept

The pain of high inflation is often harshest on the fixed income budgets of current retirees. The only bright light of the relatively recent sky-high spike in inflation is the potential for a huge Social Security cost-of-living adjustment (COLA) in 2023. Estimates of the Social Security COLA in 2022 (for 2023) have been in the

Recently I received a message from a reader, Courtney, reacting to an article I wrote a couple of years ago called Advice to Millennials from a Retiree. The reader was appreciative of what she called “fatherly advice” and explained that she’s a millennial, single, works full time and is raising two sons. She wrote, “I

By Richard Eisenberg, Next Avenue You probably have money saved up for retirement in a 401(k) plan, but do you have any idea how long that money will last? Or how much it would provide each month in retirement? Probably not — until now. A new federal rule for 401(k) plans says the statements employees

By Nancy Collamer, Next Avenue Amid rising inflation and a volatile stock market, many retirees are heading back to work. In April, Hiring Lab, the economic research arm of the job board Indeed.com, reported that as of March 2022, 3.2% of workers who were retired a year ago are now employed. Unretiring can help stabilize