Retirement

If you have been following my posts on required minimum distributions from retirement accounts over the last few years, I have an important update to share with you. RMDs are mandated IRA distributions that start at a certain age (currently age 73) – or any age for those who inherited IRAs or other tax-deferred retirement

Simplifying and streamlining our portfolios and the rest of our finances should be an estate planning priority as we age. I learned this firsthand when I took over management of my parents’ finances. I was fortunate that my parents were still around and alert when I took over, so they could explain some things, sign

The first big issue for a Medicare beneficiary is whether to enroll in original Medicare or a Medicare Advantage plan. The decision can be reviewed each year during the open enrollment period, which runs from October 15 through December 7. A major difference between original Medicare and Medicare Advantage is most Advantage plans require prior

Living, buying property, doing business, and investing overseas come with challenges, including some you might not expect. Chief among the roadblocks you might not be prepared for is corruption. Transparency International produces an annual index. On it, Canada, the United States, Australia, New Zealand, the U.K., Japan, most of Europe, and Uruguay rank as among

There is a persistent myth that healthcare is magically free after you’ve retired, partly thanks to Medicare. Ask any retiree with a health condition, and I assure you they will tell you medical care is not free. The estimated healthcare expenses in retirement may cause you to worry about running out of money. Hopefully, those

The first big issue for a Medicare beneficiary is whether to enroll in original Medicare or a Medicare Advantage plan. The decision can be reviewed each year during the open enrollment period, which runs from October 15 through December 7. A major difference between original Medicare and Advantage plans is that most Advantage plan require

One of the defining challenges of our time is the growing problem of economic inequality in the United States. In 2021, the top ten percent of Americans held nearly 70 percent of U.S. wealth, up from about 61 percent in 1989. The share held by the next 40 percent dropped correspondingly over that period, while

“I know what the numbers say,” more than one client has told me after looking at a positive statistical analysis suggesting they’ll not likely run out of money, “but I just don’t know how to be comfortable spending in retirement.” And who could blame them? Half of the financial world focuses on how woefully underprepared

A new open enrollment period for Medicare is about to begin, and Americans 65 and older will be making or reconsidering one of their most important decisions. Open enrollment runs from October 15 through December 7. It’s important to ignore all the Medicare ads delivered through television and the mail during the period. Establish a

Today is World Alzheimer’s Day, a global effort to raise awareness and challenge the stigma around Alzheimer’s disease. We read about it, we fear the disease and we still avoid discussing it with aging loved ones. It’s not just our elders who fear delving into the subject of possible dementia. It’s us, too, the adult

Most people think you only talk with a financial advisor about money. However, there is another thing that you should discuss. Your health should equally be addressed and considered when planning for retirement. If you aren’t healthy enough to enjoy your money, you probably aren’t living your dream retirement. To be even more blunt, if

Most people with significant assets in IRAs and 401(k)s let Congress and the IRS determine their spending and distribution strategies. That’s a big mistake that can cost them and their families quite a bit of money. Most people don’t begin taking money out of their qualified retirement accounts until the required minimum distribution rules say

Perhaps you are part of a family that includes siblings in conflict. Maybe there are some in your family who have been estranged for a long time. These issues may have existed unchanged for years until their aging parents’ situation reaches a crisis point. Rather quickly, siblings or others are forced to communicate about what

If you’re currently in your 60s or early 70s, there’s a good chance you’ll need to generate retirement income for 20 to 30 years. If you take care of your health and have above average income and educational attainment, you could easily live into your 90s or even reach age 100. As a result, it’s

It could be argued that it is easier to prepare for retirement if you don’t have children. Think about all the extra time you have to advance your career and, assumedly, make more money over time while avoiding the astronomical cost of raising children. However, these benefits may run out as we age. Not having

It hardly is news that nursing homes are in trouble. Consumers think they are unsafe; nurses, aides, and other staff are reluctant to work for them; hundreds of facilities are shutting and others are closing beds and even entire wings because they can’t staff them. How can these multiple problems be fixed? The Centers for

I’m usually skeptical of stories about “a friend of a friend.” But in this case, I know that it’s a true story. A friend of a friend was staying in Bali, Indonesia’s paradise island that’s popular with partygoers and backpackers. My “friend of a friend” bought a van to use for transportation. The Balinese authorities

The pithy aphorism that “the best things in life are free,” while no doubt well-intentioned, is simply false. It’s slightly more accurate to suggest that the best things in life can’t be bought, but even this claim can be quickly debunked when you attempt to concoct a scenario in which nary a single penny was

Forbes screened more than 800 locales in the U.S. for everything from climate change risk to crime to availability of doctors. We then compared those that made the cut for what they offered in leisure pursuits—from the arts, fine dining and learning to hiking, skiing, watersports and golf. Here are the top 25. by William

Share to Facebook Share to Twitter Share to Linkedin S till in their mid-50s, Gloria and Kevin Murray of Morgan Hill, California, at the Silicon Valley’s southern tip, are planning well ahead to enjoy their future empty nester status, and ultimately, their retirement years. They recently bought a house 500 miles to the north in