Retirement

Here are two situations I reviewed recently. A 74-year-old man got a bill for his colonoscopy. He thought this was supposed to be a free procedure. A 71-year-old woman has never paid for a mammogram since she has been on Medicare. But she discovered she has to pay for the last one. These individuals received

Burnout isn’t just an issue in the workplace. In fact, it may be even more common in our financial lives. Sure, we’ve all heard about the notoriously low savings rates in the U.S. and the paltry average savings in most households, but regardless of income, more than half of the country reports that they are

Many retirees plan to spend their retirement savings quite frugally, according to a few recent reports and studies. For example, a recent survey report, To Spend or Not to Spend from Blackrock, shares that retirees prefer to keep their assets untouched and that just one in four survey respondents feel they need to spend the

Bad: stubborn prices increases. Surprisingly good these days: Your ability to outrun them. By William Baldwin, Senior Contributor Ugly truth about inflation: Once it gets started, it’s hard to stop. But there’s an auspicious element of what’s going on in the financial markets: Investors are much better equipped than they used to be to combat

When you change jobs, you’ll need to decide what to do with your old 401(k). A common choice is to roll the old 401(k) into an IRA, which can be a great option. But according to a recent Vanguard study, 28% of investors who did a 401(k) rollover into an IRA were in cash one

For those of you that have been affected by the Windfall Elimination Provision or the Government Pension Offset, this may be the most important article you read. The Social Security Agency at this point does not have a specific timeframe as to when benefits will be adjusted. The WEP reduces your own Social Security benefit.

My husband and I enjoy the show on Netflix with Ted Danson titled “Man on the Inside.” Charles (Danson) is a retired professor of engineering who has recently lost his wife. Since his adult daughter is worried he is depressed, lonely, and bored, she encourages him to get a job that will get him out

Some parents do a fine or at least adequate job. Some do not. For those adult children who did not have adequate parenting, there may come a time for a challenging decision: should you care for an aging parent who was emotionally absent, abusive, or neglectful during your childhood? Do you owe it to them?

Can a 50-year-old still retire a millionaire? The good news is, yes, even starting in your 50s, you can still end up a millionaire. Obviously, it will take more diligent financial planning and investing to reach the millionaire or multi-millionaire club the later you begin accumulating wealth. There are simple steps to follow in order

Tim Ferriss recently talked to Greg McKeown, offering “Tactics and Strategies for a 2025 Reboot,” and the Essentialsim author had a showstopper of a quote that caused me to “Wait, what?” and rewind: “What I have learned is this strange law of inverse prioritization,” McKeown said, “which is, I literally believe now that the most

Being part of the “sandwich generation”—adults caught between raising their own children and caring for aging parents—can feel like an endless financial and emotional marathon. Many middle-aged adults are juggling mortgages, college tuition for their kids, and the stunning costs of elder care, not covered by Medicare. The weight of these responsibilities can lead to

Medicare Advantage prior authorizations have few friends. Doctors hate them. Patients hate them. Politicians say they hate them and introduce bills to curb them. But how onerous are they really? Less than many people think. But they still create opportunities for insurance companies to maximize profits at the expense of needed care. And they can

I have been following Sahil Bloom through his bi-weekly newsletter, The Curiosity Chronicle. I consider him to be one of the smartest thought leaders in the field of personal growth and development. He offers action oriented practical wisdom. Bloom’s book, The Five Types of Wealth: A Transformative Guide to Design Your Dream Life, has just

One of the most common questions I get asked by people thinking of retiring is, “What do I need to do to ensure I won’t run out of money in retirement?” If you’ve asked this question, you have reasons to be concerned: Healthcare is costly, most people live longer, and inflation has eroded purchasing power.

Fortunately, we’re in one of those seasons when we get headlines about new market highs pretty regularly as one or the other index surpasses a new, never-before-seen threshold. These benchmark superlatives tend to inspire a moment of celebration—only to be soon followed by hours of anxiety, as investors ponder when their new all-time high will

For families with an elder who abuses alcohol, fear is nothing new. Sometimes the issue of alcohol abuse is so extreme, it boggles the mind that family has not taken action to protect the aging parent, and the public. Driving is a prime issue. Real Case Study In a family of two adult children and

Retirement planning has always been a long-term journey, but for younger generations, navigating this path has become more complex. With rising costs and other economic factors at play, young investors face a variety of challenges. However, the key to a successful retirement requires proactive planning and consistent effort. Here’s how younger generations can better plan

Combining annuities with IRAs or 401(k)s can be powerful. Annuities offer principal protection and guaranteed lifetime income. But often people don’t even consider the combination because of widespread misinformation and confusion. Some people say that an IRA isn’t allowed to hold an annuity. That’s not true. The tax code allows most types of annuities to

The ability to switch Medicare plans isn’t as available as many beneficiaries are told or believe. Most Medicare beneficiaries know that each year during open enrollment (October 15-December 7) they’re allowed to change their coverage. The new coverage will take effect the following January 1. During open enrollment, a beneficiary can switch from one Medicare

By Rachel Leland, Next Avenue An 81-year-old Illinois woman recently encountered legal issues as a result of dental bills and contacted CJE SeniorLife, a nonprofit that provides services to older adults in Chicago. Her dentist had advised her to undergo a $4,000 procedure and she believed she had secured a no-interest payment plan with the