Retirement

Could a positive financial trend be emerging as a result of the pandemic? Could it be that women are stepping forward more to lead family financial decisions?  A new study (“The Pandemic’s Impact on Women”) released last week by Fidelity brought this statistic to light: The majority of women surveyed (67%) said they are now

Briana called AgingParents.com in distress. She was feeling panicky and angry. Her 80 year old mother, Rhonda, had just bought another new car she could not afford. Briana explained that her mother’s funds were limited, but she kept insisting on living the life she had before her husband passed. Her parents had depleted their assets

Sanibel Island, Jerry’s Foods, grocery store, breakfast cereal aisle. (Photo by: Jeffrey … [+] Greenberg/Education Images/Universal Images Group via Getty Images) Jeffrey Greenberg/Universal Images Group via Getty Images I am interviewing Gaurav Sharma, who has launched a new venture to solve an old problem. Gaurav, ever since we started our national experiment with do-it -yourself pensions with

FIAs also frequently offer optional lifetime income guarantee benefits in the same manner as variable annuities (VAs). These guaranteed lifetime withdrawal benefits (GLWBs) are what can make FIAs particularly valuable in a retirement income plan. Though the names for different pieces may vary, the discussion from the previous chapter still applies in terms of rollup

Cloud storage getty The pandemic has shone a light on the need for families and older individuals to ramp up their game in preparing for the unexpected.  One of the ways we should all be doing that is by locating and reviewing our estate documents and securing them in the safest place possible. Adults of any

Illinois Gov. JB Pritzker answers questions from the media during his daily press briefing on the … [+] COVID-19 pandemic from his office at the Illinois State Capitol, Friday, May 22, 2020, in Springfield, Ill. (Justin L. Fowler/The State Journal-Register via AP, Pool) ASSOCIATED PRESS It was going on two years ago, back in February

By Richard Eisenberg, Next Avenue Managing Editor getty Jeff Gothelf, a Barcelona-based (by way of New Jersey), 47-year-old business consultant, author and public speaker, believes we can make ourselves “forever employable” if we follow his advice. He’s written how to do it in “Forever Employable,” his new book. Frankly, I was skeptical about the title.

getty Most people are focused on the wrong risks to their financial futures, and that increases the risks they face. When a financial or retirement plan fails, it’s usually because key risks were misunderstood or mis-estimated, and people are focused on risks that are less likely to derail their plans. In general, retirees and pre-retirees

Father and daughter out for a walk getty Health is retirement’s biggest wild card, the difference between activity, independence, and financial security – or worry, constraint, and financial insecurity. Today’s newly minted Boomer retirees can look forward to longer and healthier retirements, perhaps extended by medical breakthroughs. But at the same time, more of them

Biden picking Rhode Island Governor Gina Raimondo as next Secretary of the Treasury makes as much … [+] sense as picking Dracula to oversee the national blood bank. getty Apparently Joe Biden’s transition team is considering Gina Raimondo, the hugely unpopular governor of Rhode Island as the next Secretary of the Treasury should Biden win.

As 2020 gives way to 2021, here’s what you need to know about tax planning. getty I think we all wish we could have $10 for every time the word ‘unprecedented’ is used in 2020. It’s been a year of incredible upheaval and rapid change. I know I’ve been gobsmacked more times than I care

SAN FRANCISCO, CA – SEPTEMBER 30, 2013: The Charles Schwab office in San Francisco’s Financial … [+] District. The Charles Schwab Corporation is an American brokerage and banking company based in San Francisco, California on September 30, 2013 in San Francisco, California. (Photo by Robert Alexander/Getty Images) Getty Images The Congressmen who introduced a bill

By Christina Leimer, Next Avenue getty I turned 60 last year, and within months learned that the job I’d hoped would be my last before retirement was being cut. I was angry, afraid, sad, anxious and felt betrayed. My confidence was punctured. But I felt relief too, and an elated sense of freedom and lightness.

It’s smart to think ahead and plan for the time in your life when you might need care. getty Pre-retirees face several potential risks during retirement that require their focused attention and planning, such as outliving their money, stock market crashes, inflation, and the high cost of medical bills. Now the COVID pandemic has exposed

The burden is on you to stuff your retirement piggy bank. getty How much can you save for retirement in 2021 in tax-advantaged accounts? How does $58,000 sound? The Treasury Department has announced inflation-adjusted figures for retirement account savings for 2021.  The basic salary deferral amount for 401(k) and similar workplace plans remains flat at

getty Trusts are an essential part of most estate plans, even the plans of people with moderate wealth. You need to know the basics of trusts, especially the key terms and concepts of the most widely-used types of trusts. Keep in mind that some of these trusts are given different names in some regions or

You can’t assume that your bracket will go down in retirement. It could easily go the other way. Give and take getty Among fans of 401(k) plans it is taken as axiomatic that people’s tax rates go down after they quit work. So you should max out your salary deferral. That way you’ll effectively pay

Economic Security Planning, Inc. Today’s column addresses questions about early filing and restricted applications, retroactive spousal benefits, choosing which ex’s record to file on and potential effects of foreign pensions on divorced spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which

We share beneficiary mistakes to avoid to keep your family safe and out of probate. getty It is surprisingly easy and common to make mistakes when designating beneficiaries on retirement and investment accounts. While you may think it isn’t a big deal, mistakes with beneficiaries can be quite costly. You may inadvertently disinherit a loved

getty Do you need 500 stocks when only 30 will do? I have written extensively on the S&P 500 and Dow Jones Industrial Average. They are perhaps the 2 most common answers to the question “what do you consider to be the stock market?” They help put a framework around investing in U.S. stocks. They