Retirement

Getty getty Most owners of second homes leave a lot of money on the table, especially when it’s time to sell the house or pass it on to the next generation of owners. There are three basic choices for transferring ownership of the second home, but the details of each option are flexible. Most vacation

Estate planning handwriting sign on the sheet. getty If you have been thinking about making large gifts to take advantage of the current $11,700,000 lifetime federal estate tax exemption, you have probably been contemplating a spousal lifetime access trust, commonly known as a SLAT.   A SLAT is an irrevocable trust that you create for the

Some issues with Social Security can create problems when enrolling in Medicare. getty If your time for Medicare enrollment is approaching, just imagine being shut out when you try. That’s a real possibility and it happens more frequently than it should. Here’s a real-life, sad story. Helena’s 65th birthday came in August 2020. When she tried

Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about whether and when recent higher earnings will increase a retirement benefit already filed for, whether filing for and suspending a retirement benefit would be advantageous and benefits potentially available on an ex’s record. Larry Kotlikoff is a Professor of Economics at Boston University and

bailout money getty Last week, I walked readers through the particulars of the latest version of a bailout plan for the troubled multiemployer pension plans. I explained that the new plan, one component of the “Covid relief” reconciliation bill, was a significant disappointment insofar as it consisted wholly of plowing cash into the most-troubled plans

Scammers who incessantly try to defraud seniors pay attention to headlines. News items describing scarcity of vaccines, long lines of seniors camped out, waiting to get Covid vaccines, fear of contracting a new variant—all are like invitations to scammers. They adapt quickly and invent ways to capitalize on fear. Fear is around us, particularly among

To complete the 3 Rs, it’s a good idea to involve your financial professional. They can help! getty In the old days, everyone learned the three Rs, ‘Reading, wRiting and aRithmetic.’ These basics were big buckets that contained a basic education. If you could master those, you’d find yourself in pretty good shape. At times,

By Diane Eastabrook, Next Avenue FRANKFORT, KY – JUNE 19: Hundreds of unemployed Kentucky residents wait in long lines outside the … [+] Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. (Photo by John Sommers II/Getty Images) Getty Images At the end of 2018, Ida Lane, 63,

An innovative crowdfunded forensic investigation of the Ohio State Teachers’ Retirement System will … [+] invite public participation. getty An innovative forensic investigation of the nearly $80 billion Ohio State Teachers Retirement System crowdfunded by the Ohio Retired Teachers Association will invite public participation by posting all documents obtained from OSTRS online for public scrutiny;

By Kerry Hannon, Next Avenue getty There’s something romantic about hearing Elvis Presley croon: “Wise men say only fools rush in, but I can’t help falling in love with you” that makes Cliff, my husband of more than 28 years, and me grin. We might even begin to dance. It’s “our song.” It’s also that

Getty Images getty Are there charitable causes you feel strongly about that you want to support? Do you want to integrate philanthropy into your family life? Do you wonder which method of charitable giving is right for you? People often engage in charitable giving because they feel strongly about a specific cause and want to

By Margie Zable Fisher, Next Avenue Glen Muñoz, podcast producer Glen Muñoz Almost every day since the outbreak of the coronavirus, we’ve heard stories about businesses shutting down. Yet new businesses have also been launched during the pandemic at the fastest rate in over a decade, according to The Wall Street Journal. Some of these new

LightRocket via Getty Images Over the last couple of weeks, the financial headlines have been dominated by market manipulation, GameStop, short squeezes, Reddit frenzies and other uncommon topics. A little perspective makes it easier to understand these events and how they should affect your investment strategy. The big news was the strong increase in the

10 tips for a Happier Retirement and the 25 happiest cities for retirement in the US getty Sadly no city in the USA came in the top 25 happiest cities for retirement. The top five cities for happiest retirement are Helsinki, Copenhagen, Geneva, Reykjavik, Oslo.  As a Los Angeles financial planner who helps people plan for

Did you take a break from required minimum distributions (RMDs) in 2020? Thanks to the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which suspended RMDs for 2020, you did not have to take RMDs from your traditional IRAs (individual retirement accounts) and other tax-deferred accounts last year. (Roth IRAs do not require RMDs during

getty It is not a surprise — not to me, anyway — that the “Covid relief” bill, or, strictly speaking the first half of such, released by the House yesterday, to be passed under the terms of reconciliation, includes substantial provisions related to multi-employer pensions. I did, after all, predict as much as soon as

Senior couple staying home and staying fit during COVID-19 lockdown. How to have a better retirement … [+] plan now. getty Are you dreaming of the day that work becomes an option, and you reach financial freedom? Those who avoided the negative effects of the Coronavirus recession have seen their salaries rise. While stuck at

getty It’s that time of year when, if you’re like most people, you begin to once again turn your attention to your IRA. The year-end statements are starting to trickle in, so you might feel the urge to re-evaluate things and perhaps make some changes. But, do you really know what you should be looking

Investment fees can invalidate the 4% Rule. Here’s what you need to know. getty The 4% Rule has helped generations of retirees estimate how much they can spend each year in retirement. What many don’t know, however, is the role investment fees played, or didn’t play, in the creation of the rule. For example, does

Questionable hearing device getty Almost 50 million Americans suffer from some level of hearing loss. The majority of them are adults older than 65. I know quite a number of people who have hearing aids; some wear them religiously, some do not. The non-wearers claim they don’t really work for them, they’re cumbersome, they are visible