Retirement

Personal finance is like politics and religion. People live and die over doctrinal debates that too often take the discussion to polarizing ends and away from the root issues and optimal guidance. Much of the debate in financial planning lies in the investment realm. Active versus passive. Individual securities versus funds. Funds versus ETFs. Traditional

We’ve probably all heard about the loneliness pandemic in media reports. We hear about the national mental health crisis too. No one is free from risks to our mental health, though clearly some do better than others in keeping the risks down. How do we help our elders (and ourselves) cope with depression and anxiety,

Share to Facebook Share to Twitter Share to Linkedin On Jan. 4, 2023, 72-year-old widower Gerry Turner and star of ABC’s “The Golden Bachelor” married 70-year-old widow Theresa Nist. Turner and Nist met on the show, filmed over four weeks in August. Nist beat out 21 other women, including finalist and two-time divorcée Leslie Fhima.

I’m a professional prioritizer. As a financial advisor, it’s not my preferences that I am responsible for articulating nor my priorities that I am duty-bound to help order, but my clients’. And after 26 years in this business, I have no doubt that financial planning is more about prioritization than possession. This is because no

Lonely senior (LS), after a failed marriage, had not dated much for several years. She finally decided to try a dating app for older people. She’s attractive, professional, still working and very smart. She had not had much experience with dating apps but was glad to get on and find what looked interesting. LS started

If you want to retire early but don’t have enough financial resources, you can still turn your retirement fantasies into reality by learning from people who “retired” early. They didn’t have sufficient financial resources to support themselves for a handful of decades without any income from working, but nevertheless they made more conscious choices about

Introduction to the CCA In a recent Chief Counsel Advice (CCA) issued November 28, 2023 the IRS took the position that modification of a grantor trust, with the beneficiaries’ consenting to that modification in order to add a discretionary income tax reimbursement provision for the grantor, resulted in a taxable gift by the beneficiaries. The

Congress is debating whether to impose new restrictions on immigration as the price of a deal to provide new aid to Ukraine and Israel. But some of the biggest victims of this misguided policy will be frail older adults, younger people living with disabilities, and their families. For their sakes, Congress should make immigration easier,

In micro-economic textbooks, the main factor assumed to affect the quality of a market is the number of sellers. A single seller, termed a monopolist, is the worst because that seller has maximum power to affect price. At the other extreme, a market with so many sellers that no one of them could affect the

Have you ever fantasized about quitting your job and moving to a place where it’s so affordable that you don’t need to work? Or perhaps you just want to move out of the U.S. to live out your dream life overseas. For eight years now, I have been reporting on the most affordable countries to

In the first few hours of 2024, over 220 U.S. workers will have likely paid all their Social Security taxes for the entire year. In contrast, over 160 million workers will pay all year. In 2023, the maximum earnings subject to Social Security taxes was $160,200, in 2024 it is $168,600. Elon Musk earned $168,600

The S&P 500 gained 26.29% during 2023 when you include the return from dividends. This 2023 return more than offset the 18.11% loss during 2022. With numbers like that, pre-retirees and retirees may feel like they’re being whipsawed by the stock market. If you’re retired, should the 2023 return be a cause to celebrate and

The Corporate Transparency Act (“CTA”) is upon us. January 1 all new entities have to register with the FinCEN. Unless Congress acts to defer filings for pre-2024 entities, those will be required to be filed by January 1, 2025. While there have been extensive articles discussing in some detail the new rules, there seems to

A number of CMOs either choose to retire early (their 50’s) or they transition into an entirely different career. As somebody who left the CMO world behind in my 40’s to pursue a career in academia, I appreciate the allure of change at this point in life. To understand what it is like to transition

By Ellen Ryan, Next Avenue When Irene Glowinski packs grocery bags for critically ill patients and Cheryl White brings her trained service dog to visit hospitals and “read” to children at an elementary school, they recognize the good they’re doing for others. But these volunteers don’t generally think of the good they’re doing for themselves.

You’ve heard the adage “use it or lose it”. It’s particularly apt in describing what happens as we age. Typically we move less, lose muscle strength, and suffer the consequences of losing independence, have greater fall risk and other undesirable things. At the beginning of each year, people commonly make New Year’s resolutions to lose

By Edd and Cynthia Staton, Next Avenue Bud was proud of the successful business he started 40 years ago, from his initial small store he had expanded to several locations around the state with loyal employees, vendors and customers. Everything changed when he died unexpectedly. Bud, a composite of several entrepreneurs whose next of kin

You hear the term now and again, “MCI”. Someone might say it’s what your aging loved one has. Is it a diagnosis? Doctors use the term, but no one seems to exactly pin down what it means. How mild is “mild” and what does it mean in terms of diminished capacity? Here is a way

If you don’t want to feel poor in your retirement, you’ll want to learn about inflation risk and adopt strategies to mitigate it. Inflation is a serious risk that can derail your retirement finances. What Is Inflationary Risk? Inflation increases the cost of goods and services over time. If your income doesn’t keep up with

By Ellen Neuborne, Next Avenue My book club meeting was finishing up when one of the women approached to ask me a favor. “Will you take a look at my resume?” she asked. I’m an editor by profession and I get that request a lot. “I’ve sent dozens of applications in and I’m getting nothing