Retirement

It’s been a few years since I’ve gotten any questions about Medigap Plan F. Then, last month, that seemed to be the topic. Consider this recent question from Dennis. I am 71 years old and finally retiring. I talked with my agent about signing up for a Plan F. I think that’s the best one

Behavior, attitude, technique. If you think about these three components in any pursuit, which is the most important? For example, let’s say you resolve to get more physically active. What is the order of priority when considering your behavior, your attitude, and your technique? Most of us respond initially with attitude. I mean, surely having

The Inflation Reduction Act of 2022 provides substantial tax breaks for homeowners who navigate the rules. Most of the breaks started in late 2023 or early 2024 and last through 2032. The tax breaks are designed to encourage people to make their homes more energy efficient and reduce use of fossil fuels. Most of the

Noncompete Agreements and Your Estate Plan Huh? What do the FTC and its new restrictions on noncompete agreements have to do with estate planning? Maybe nothing, or maybe everything. If you have a closely held family business and you want to keep it in the family for the next generation, these new restrictions may derail

Living in the United States is not cheap—especially as prices continue to soar, from groceries to transportation to housing. According to recent reports, an American household spends an average of $61,334 per year on their expenses, with housing being the largest expense, at almost $1,800 a month. So why not move someplace where it costs

When a spouse or life partner dies, it’s only natural that the survivor will be grieving and lonely. To add injury to insult, the survivor usually also experiences a money crunch. And the odds are the survivor will be a woman in her 80s or 90s, when she’ll be less resilient to deal with the

The U.S. Census Bureau recently released a report on the nation’s foreign-born population. The data indicates that between 2010 and 2022, the country’s foreign-born population increased by more than 15%. Making up nearly 14% of the U.S.’ total population, the foreign-born Americans totals more than 46 million people, an increase of six million since 2010.

We have a retirement income crisis, and ordinary workers don’t have much hope of retiring and maintaining their standard of living if they don’t have retirement savings and expanded Social Security. One doesn’t replace the other. Workers need both. Since we crushed unions and the wealthy got their tax cuts in many forms, the idea

The Secure Act has eliminated the stretch IRA for most people who are inheriting an IRA or 401(k). Now, beneficiaries who inherit an IRA will need to follow the 10-year rule, which can significantly increase the income taxes due on your inheritance, not to mention the new onerous rule of when and how much you

The Department of Labor (DOL) has recently introduced a pivotal update to what constitutes investments advice under ERISA, more commonly referred to as the fiduciary rule. The DOL’s stated goal in crafting a new and updated rule has been aimed at enhancing the integrity of financial advice provided to retirement savers and enhancing retirement security

The migration from high-tax states to lower-tax states that accelerated during the pandemic continues today. To fight the tax loss from the population shift, a number of high-tax states aggressively seek to identify people who moved out of their borders and continue imposing income and estate taxes on them. The states generally impose income, estate,

In the twilight years of life, when the pace slows down and the simple acts of daily living become challenging, artificial intelligence (AI) emerges as a powerful ally. It’s a testament to how technology, often criticized for distancing human connections, can bring us closer, making the golden years not just bearable but joyful and dignified.

Aging takes its toll, even among the healthiest elders. We love our self-sufficiency. We don’t want to give it up. Nearly everyone asked says they want to stay at home for as long as possible. But staying at home without any help can be very dangerous. Safety Issues Here’s an example of an elder who

The US Census recently released a report on the nation’s foreign-born population. The data indicate that between 2010 and 2022, the country’s foreign-born population increased by more than 15%. Making up nearly 14% of the nation’s total population, the foreign-born population totals more than 46 million people, an increase of six million since 2010. Most,

Life insurance should be a part of many people’s retirement plans. However, it should never be your entire retirement income strategy. There is an array of people pitching crazy tax-planning strategies using life insurance that are likely not appropriate for those making less than $500,000 or so per year. That being said, there are a

The Biden Administration has announced it has adopted new minimum staffing rules for nursing homes. But the regulations appear to give facilities time to meet the requirements. Separately, the Administration also is requiring that home care agencies allocate at least 80 percent of their Medicaid payments to staff compensation. States would have flexibility to adjust

The answer is YES. Both. Here’s why. Hannah Le turns 18 this week. She’s a senior in high school choosing between college acceptance offers from Cornell and the Honors College at the University of Texas in Austin. And she’s a self-made financial literacy instructor. She has taught more than 500 elementary school children at 9

You might be understandably worried by scary headlines that project the Social Security Trust Funds will be exhausted in the year 2034. Having accurate information is one of the best ways to deal with worry, so let’s look at what could happen if the Trust Funds run out. Is It Possible That Social Security Funds

You can quit work, but can you quit retirement? Many people are. Why? The answer is about more than money and may surprise many people who are working hard to plan their dream retirement. Pulling out of the driveway, my chatty rideshare driver volunteered that he retired a few years ago from the hotel that

There is no doubt that the economy is now stronger than it was four years ago. But, are people better off than they were before the pandemic? Looking at employment alone, it is clear that the quick and strong jobs recovery has meant that those workers, who were from 25 to 44 years old in