Retirement

“Remember, today is the tomorrow you worried about yesterday.” Those words of early personal development sage, Dale Carnegie, spun around in my brain, and then it hit me: This is the reason financial planning stresses people out. So much of financial planning is unknown, even unknowable. It has such a future orientation that it’s hard

Today is — jobs day — the first Friday — and the Labor Department reports unemployment is unchanged at 3.5 percent. As the labor market remains tight, companies may hasten to settle contracts and new graduates might not take the first job they’re offered. Last month, more workers said “take this job and shove it”

With the introduction of the SECURE Act 2.0, various shifts are in motion, and one particular change will significantly affect individuals seeking to enhance their 401(k) contributions, particularly as retirement nears. Starting in January 2024, high-income taxpayers (those with earnings in excess of $145,000) wanting to make catch-up contributions to traditional retirement accounts will have

Wills and trusts, instead of designating a specific person to inherit, often name a group or class of people such as your “children,” “issue,” or your “descendants.” So, how the term used is defined could determine who might inherit from your estate when you die, or a trust that you create. There are situations where

Every demographic has its own unique set of planning nuances. For Orthodox Jewish families this includes their strict observance of Jewish law such as observing the Sabbath and eating kosher food. Taking the time to understand certain nuances related to living an Orthodox Jewish lifestyle is an essential first step for developing a sensible strategy

Barbie, the megahit movie, has something for everyone (well, not quite, right wing men are fuming), but it needed to pursue the death and aging theme a little more. Buzz kill, sorry, but as the movie progressed the theme of death developed into one of the most poignant moments of the movie. Margot Robbie looks

Greta Gerwig’s Barbie movie continued its record-breaking run this weekend, racking up an additional $131.5 million in global box office sales, raising its total take to over $774.5 million in just 12 days since the release. The level of success has surprised Hollywood. And while the economics of the movie industry is often impossible to

Back on July 18, the Equable Institute released the 2023 version of its annual State of Pensions report, which means that, yes, it’s time for another check-in on these infamously-poorly-funded pension plans. Among the wealth of tables is a list of the best and worst-funded of the 58 local pension plans studied, and, yes, you

It’s not necessarily hard to find a location with 3,000+ hours of annual sunshine, but not all are created equal. Make the most of a sunny climate in these eight top destinations, chosen not just for the number of days per year they revel in rays but also for their fascinating histories, diverse cultural offerings,

If you were born in 1951, did you receive a required minimum distribution between January 1, 2023 and July 31, 2023? If you don’t want that RMD, you can undo it by redepositing the funds into the retirement plan if you act by September 30. Why am I directing this information to those born in

With constantly changing regulations, a market that seems to be continuously in flux, and inflation driving costs up across the board, it can be hard to know when and if you should start investing your money. So how do you know when you should start? When you’re able to. The most basic answer to this

You probably have a chunk of savings in Treasurys. Here’s how to size up conventional bonds, the inflation-protected ones and other ways to guard against a weak dollar. By William Baldwin, Senior Contributor The Federal Reserve will quickly get the inflation rate down to 2%. Do you believe that? If you do, then the usual

Americans abroad are at a disadvantage when it comes to taxes because, unlike the majority of developed nations, the United States operates a citizenship-based taxation system instead of a residence-based one. This means that, no matter where you move, so long as you maintain your U.S. citizenship, you will have to file an annual tax

Recently, I was surprised, pleased, and sobered that a few online calculators estimated I could live to age 100. I’m currently age 70, so that would mean I’d be retired for 30 years! While it was nice to think I still had 30 years to live, it was also a wake-up call that I should

Digital nomads are a new generation of workers who aren’t tied to any specific location. And while the common image of a digital nomad is a laptop-toting 20-something swinging in a hammock on a sun-soaked beach, the reality is that a digital nomad can be from any generation at all, Baby Boomers included. You also

If you have an aging loved one in your life, you might see what we’re seeing in so many families here at AgingParents.com—elders refuse to accept anything new. It can be an assistive device, help at home, replacing what’s broken, or anything. It might be addressing an obvious hearing loss. Mom or Pop keeps saying

$40,000—That’s how much the typical Generation X household has saved for retirement. This number should set off alarm bells for anyone concerned about retirement security because that level of savings at retirement would provide only $100-150 a month in retirement income. As the first generation to enter the workforce after the move away from pensions

There are many articles written on the best and worst ways to claim your Social Security benefits. Should you claim early? Should you claim later? Should you keep working? All good questions; and for full disclosure, I have written many of those articles. But a particularly important question that should be addressed at the very

There was a voicemail waiting for me on Monday morning from Robert, a former client. “Diane, I’m in a panic. My wife is in the hospital, having hip replacement surgery. Some hospital person gave me a form to sign about observation care. I don’t know what it means or whether it will have any impact

I recently spent an afternoon estimating how long I might live, using a few life expectancy calculators. It was this actuary’s idea of fun! It was also very enlightening and sobering, even for someone who works researches and writes about longevity topics. It reinforced the conclusion that I should be planning for a long retirement,