Retirement

When a spouse or life partner dies, it’s only natural that the survivor will be grieving and lonely. To add injury to insult, the survivor usually also experiences a money crunch. And the odds are the survivor will be a woman in her 80s or 90s, when she’ll be less resilient to deal with the

The U.S. Census Bureau recently released a report on the nation’s foreign-born population. The data indicates that between 2010 and 2022, the country’s foreign-born population increased by more than 15%. Making up nearly 14% of the U.S.’ total population, the foreign-born Americans totals more than 46 million people, an increase of six million since 2010.

We have a retirement income crisis, and ordinary workers don’t have much hope of retiring and maintaining their standard of living if they don’t have retirement savings and expanded Social Security. One doesn’t replace the other. Workers need both. Since we crushed unions and the wealthy got their tax cuts in many forms, the idea

The Secure Act has eliminated the stretch IRA for most people who are inheriting an IRA or 401(k). Now, beneficiaries who inherit an IRA will need to follow the 10-year rule, which can significantly increase the income taxes due on your inheritance, not to mention the new onerous rule of when and how much you

The Department of Labor (DOL) has recently introduced a pivotal update to what constitutes investments advice under ERISA, more commonly referred to as the fiduciary rule. The DOL’s stated goal in crafting a new and updated rule has been aimed at enhancing the integrity of financial advice provided to retirement savers and enhancing retirement security

The migration from high-tax states to lower-tax states that accelerated during the pandemic continues today. To fight the tax loss from the population shift, a number of high-tax states aggressively seek to identify people who moved out of their borders and continue imposing income and estate taxes on them. The states generally impose income, estate,

In the twilight years of life, when the pace slows down and the simple acts of daily living become challenging, artificial intelligence (AI) emerges as a powerful ally. It’s a testament to how technology, often criticized for distancing human connections, can bring us closer, making the golden years not just bearable but joyful and dignified.

Aging takes its toll, even among the healthiest elders. We love our self-sufficiency. We don’t want to give it up. Nearly everyone asked says they want to stay at home for as long as possible. But staying at home without any help can be very dangerous. Safety Issues Here’s an example of an elder who

The US Census recently released a report on the nation’s foreign-born population. The data indicate that between 2010 and 2022, the country’s foreign-born population increased by more than 15%. Making up nearly 14% of the nation’s total population, the foreign-born population totals more than 46 million people, an increase of six million since 2010. Most,

Life insurance should be a part of many people’s retirement plans. However, it should never be your entire retirement income strategy. There is an array of people pitching crazy tax-planning strategies using life insurance that are likely not appropriate for those making less than $500,000 or so per year. That being said, there are a

The Biden Administration has announced it has adopted new minimum staffing rules for nursing homes. But the regulations appear to give facilities time to meet the requirements. Separately, the Administration also is requiring that home care agencies allocate at least 80 percent of their Medicaid payments to staff compensation. States would have flexibility to adjust

The answer is YES. Both. Here’s why. Hannah Le turns 18 this week. She’s a senior in high school choosing between college acceptance offers from Cornell and the Honors College at the University of Texas in Austin. And she’s a self-made financial literacy instructor. She has taught more than 500 elementary school children at 9

You might be understandably worried by scary headlines that project the Social Security Trust Funds will be exhausted in the year 2034. Having accurate information is one of the best ways to deal with worry, so let’s look at what could happen if the Trust Funds run out. Is It Possible That Social Security Funds

You can quit work, but can you quit retirement? Many people are. Why? The answer is about more than money and may surprise many people who are working hard to plan their dream retirement. Pulling out of the driveway, my chatty rideshare driver volunteered that he retired a few years ago from the hotel that

There is no doubt that the economy is now stronger than it was four years ago. But, are people better off than they were before the pandemic? Looking at employment alone, it is clear that the quick and strong jobs recovery has meant that those workers, who were from 25 to 44 years old in

More than 70% of Americans are worried that higher taxes will be imposed on future distributions from traditional IRAs and 401(k)s, according to Allianz Life’s Quarterly Market Perceptions Study for the third quarter of 2023. That’s one reason a high percentage of participants in the same survey said effectively managing taxes on retirement income is

Medicare expects it will spend more $550 million this year for the controversial anti-Alzheimer’s drug Leqembi and predicts the cost will skyrocket to $3.5 billion in 2025, according to Stat News. The program spent $5.7 billion on drugs such as Ozempic and Mounjaro in 2022, according to the Kaiser Family Foundation. These GLP-1 medications were

By Lucy Lazarony, Next Avenue Companies lay off or discharge approximately 1.5 million people every month, shocking family finances of those affected — particularly if the finances include college plans for a son or daughter. Students and their parents are not helpless, however. Here is a closer look at how college plans may be affected

April 17th is my birthday! I’ve been fortunate to spend 39 years on this Earth, with 17 of those years working as a financial advisor. In that time, I’ve met with thousands of people regarding their personal finances. By interacting with so many families, discussing money and goals, I’ve amassed a wealth of helpful insights.

As you move closer to retirement, you’ll want to begin planning for your life in retirement, given the financial resources you’ve accumulated. This requires shifting your mindset, since for many years, your most important retirement decisions may have involved how much to save for retirement and how to invest your savings. Accordingly, the most important