Retirement

As folks approach retirement, they often start mentioning their “bucket list” more frequently. The bucket list is generally an itemized agenda of experiences or achievements that a person hopes to accomplish during their lifetime before they “kick the bucket” or die. This concept brings to mind the 2007 film “The Bucket List”. In the movie,

Saving for retirement requires dedication and time. During those years of dedication, however, market movements will make significant jumps that you can then celebrate. And we’re in the midst of such a shift. A recent Fidelity study highlights this very fact. According to a review of Fidelity 401k accounts, the number of participants with over

For many golfers, owning a home on a golf course or near to their pick of courses is the ultimate retirement dream. And even if you’re not among the 25 million plus Americans who play golf, you can still take advantage of all the top amenities (think spas, swimming pools, restaurants…) that golf resorts offer.

Share to Facebook Share to Twitter Share to Linkedin It feels like everything costs more these days—and some homeowners are looking for ways to increase cash flow without invading retirement assets. One way to do that? Reverse mortgages. Reverse mortgages are a creature of federal law. As part of the Housing and Community Development Act

I recently did a webinar on Medicare basics for over 600 consumers. During the Q&A session, I realized why Medicare is so confusing. The first question I was asked, “When are the seven months I have to enroll in Medicare?” highlights the reason. You would think there should be one enrollment period for everyone, right?

Kids love dinosaurs. These larger-than-life, amazing creatures that existed some 66 million years ago continue to fascinate both children and adults. Just think about how dinosaurs are still prevalent in modern popular culture – the blockbuster Jurassic Park franchise, Toy Story’s sweet Rex, and beloved Barney. Not to mention the myriad dinosaur exhibits that remain

The Federal Deposit Insurance Corporation (FDIC) changed its deposit insurance coverage for some accounts effective April 1, 2024. The basic insurance limit of $250,000 per account still holds and most types of accounts aren’t affected. The changes affect accounts of trusts and effectively reduce the insured amount for some trust bank accounts. The FDIC said

Most people are confused about how much money they need to retire comfortably, and financial services firms often add to the confusion. Two recent surveys show the confusion, especially when compared with other data. Americans who are near retirement say on average they now need $1.46 million to retire, according to the Northwestern Mutual 2024

It’s Mental Health Awareness Month. There is a nationwide effort to remove the long standing stigma of mental health issues. Historically, it has been very difficult for anyone to persuade a family member to get mental health help when family sees the signs. If you have an elder in your family with these issues, it

My friend is going on a river cruise in October. She has already started her packing list because this trip is very special and she doesn’t want to be caught unprepared. I wish those approaching age 65 had the same attitude about Medicare. Knowing what you should do in the years leading up to Medicare

Some retirees continue to make a key mistake with required minimum distributions, and that could cost them a lot of money. When a retiree doesn’t need the RMD to pay living expenses, some move the money to a Roth IRA, treating it as a conversion of the RMD to a Roth IRA. Others try to

One of the many lessons we should have learned from the Covid-19 pandemic is the cost to older adults of loneliness and social isolation. While nearly 900,000 older adults died from the virus, tens of thousands were sickened and may have died from the isolation the pandemic caused. But what have we learned from that

The IRS recently announced that in 2024, for the fourth consecutive year, IRA beneficiaries don’t have to take the annual required minimum distributions (RMDs) described in the proposed regulations interpreting the 10-year rule of the SECURE Act. Recall that in late 2019 the Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted. One

There are many reasons to avoid probate when planning for your estate. Avoiding probate avoids the hassle of having to go to court, which can be costly and time-consuming. It maintains privacy so that a list of your probate assets and their value is not filed at the probate court for everyone to see. It

Many assume they will be free of health insurance premiums once they reach Medicare age. Others think that everyone pays the same Medicare premiums for the same coverage. Unfortunately, many retirees are shocked to find out that their Medicare premiums are tied to their income in retirement. Knowing this could lead many people to make

A major expense of many retirees and pre-retirees has been increasing rapidly, but it isn’t included in the Consumer Price Index and doesn’t affect reported inflation. You’re probably aware of how auto insurance premiums increased rapidly the last few years. That substantially increased the cost of owning and operating vehicles and contributed to a higher

The leading edge of Gen X and the youngest Baby Boomers are staring down a short road toward retirement. Some are starting to hear tales from those who have crossed over to the other side — from full-time professional to full-time retiree — and wondering how they will hack life after work. Shaking his head

Families struggle with how to help aging parents and other loved ones as they begin to lose independence. Especially when the elder lives at a distance from family, assisted living seems to be a solution. Kids don’t want to move closer to the aging parent and parents don’t want to move from the familiar town

Unfortunately, the word “scam” has become too common in today’s world. A scam is an act by a dishonest person or organization to trick someone out of something, usually money. Search common scams and you’ll get pages of results. I found one site that listed 21. However, there are two scams missing from the list

Many well-meaning people take the benefits of a Roth IRA for granted. With the tax benefits of a Roth IRA, modest contributions over long periods can translate into a substantial amount of tax-free income throughout your entire retirement. Those with the highest incomes may dream of the potential for a significant amount of tax-free retirement