Retirement

By Craig Miller, Next Avenue The last few hurricane seasons have been white-knuckle events for Reed Galin, which might seem odd since the 67-year-old media producer lives just outside Nashville. Not exactly “Hurricane Alley.” Galin’s concern was for his parents, both living at the time in Juno Beach, Fla. His father, Sherman, was a particular worry;

By Beau Henderson, Next Avenue If the idea of starting a business after 50 — perhaps a part-time one in retirement — seems overwhelming, you’re not alone. You might want to consider launching through a successful franchise operation, where you can follow in the footsteps of others who’ve done so already. Eric and Pam Knauss launched

Four considerations for making the best choice for you and your family The role of a trustee—holding title to property for the benefit of another—sounds simple enough on its surface, but selecting a trustee is a complex decision with many nuances. Individuals who create trusts often focus on the trust provisions regarding disposition of the

Many years ago, the preferred way to enroll in Medicare was to visit the local Social Security office. Then came enrolling by phone, adding convenience. Make an appointment and enroll, sitting at your desk or kitchen table.  As with everything from registering for classes to buying a car, there is now online enrollment. From its

When it comes to retirement planning, a common question these days is “in light of all that’s going on, how should I take my retirement drawdowns?” By “going on,” consumers are mainly referencing the potential increase in income taxes and concerns with the future of Social Security. Add the recent spate of early retirements due

Over the past couple of months, we have seen bond yields rise dramatically and much quicker than many expected. The bell-weather 10-year Treasury bond has gone from yielding about 1.0% in late January to 1.75% in recent days. So what’s the big deal? Ever since the Federal Reserve embarked on a zero-interest rate policy during

This post is not about aging or retirement, it is about a book written by one of the brightest stars in that universe. I’m talking about the universe of people who are attempting to better understand what it means to retire and grow older, and the supreme commander of that universe is surely Ken Dychtwald.   Radical

Many aging parents with means have real estate investments of various kinds, and when capable, they manage these investments. Some with commercial properties have established real estate managers. Others have single family residential properties and manage them on their own. Until they decline cognitively, that is. At AgingParents.com, we see a recurring problem with elders

According to a recent survey of U.S. households by Schroders, only 27% of respondents who were still working reported ‘very good’ and ‘fully on track’ when asked how they feel about their retirement planning. Even more alarming, only 18% of workers between age 60 – 67 say the same. But how can you tell if

Superficial observations and shallow thinking can lead to all sorts of faulty conclusions that could negatively impact the decisions we make in our lives. Take, for example, the question of if you should move to Mexico. Please take a look at the drawing to the right. What do you see? Do you see the young

 A Roth IRA is a magnificent planning tool that offers some huge opportunities: ·       Growth and income can be tax-free ·       There are no Required Minimum Distributions for the owner, a spouse beneficiary and a ten- year distribution window for most non-spouse beneficiaries ·       Basis on assets from a Roth are automatically stepped-up. Roth assets are tax-free and

In the current low interest rate environment, many mortgage borrowers of advanced age are considering the wisdom of paying off their mortgage with low-yielding assets. This can be a good idea or a bad idea, depending on the circumstances of the borrower.  Consider the following example: The borrower has a 4% mortgage with a remaining

It began as an extended snow day and quickly accelerated to a nation-wide shutdown with no end in sight. With markets falling in a tailspin, could you blame anyone who became anxious? The future looked bleak—assuming you believed you would have a future. “Obviously a year ago people were scared,” says Craig Kirsner President, Retirement

By Kerry Hannon, Next Avenue Boomer women are “on pause” and thinking about quitting, according to a recent LinkedIn survey of 1,000 female professionals. Almost half (49%) of working women between 57 and 74 say their career is on pause (more so than Gen Z, Millennials and Gen X). And the boomer women’s conviction about

This article is part 2 of a series. Read part 1 by clicking here. The ability for the insurance company’s general account assets to earn returns that exceed what households could otherwise obtain, combined with the tax deferral provided by the insurance policy, means that it is possible for life insurance to serve as an

By Richard Eisenberg, Next Avenue Editor How big a financial toll can family caregiving take? Well, Amy Goyer, who is AARP’s family and caregiving expert, says the costs of caring for her parents led her to file for bankruptcy. “I wish I’d met with a financial adviser from the very beginning who would have kept

By Jacqueline Snyder, Next Avenue Have you ever heard that a millionaire becomes a millionaire by having seven streams of income? I believe the same to be true for small-business owners, even ones selling products out of their homes. But how do you get there? If you consider a large brand like Nike NKE ,

By Andrea King Collier, Next Avenue My husband, Darnay, and I turned 64 at the end of 2020. He’s an elementary school teacher; I’m a freelance writer. It occurred to me that we should be doing some serious financial planning before we hit 65. We have a pretty good handle on our future pensions and

By Nancy Collamer, Next Avenue If you’re looking for work or think you will be soon, you undoubtedly know to update your LinkedIn profile, refresh your resumé and up your networking game. But in today’s competitive, pandemic-fraught job market, just doing the basics isn’t enough. Fortunately, I recently picked up several timely job-search tips while

Retirees with limited assets face the specter of outliving them. The only assurance offered by investment advisors that this will not happen is application of what is called the 4% rule. The rule says that if the retiree draws 4% of his assets every year and increases the draw amount by 4% every year, the