Retirement

Annuities are setting sales records, thanks to higher interest rates, lower stock prices, and aging Baby Boomers. It’s been years since annuities were able to offer payouts comparable to today’s, and the annuities protect your principal and guarantee lifetime income. Since many people have significant portions of their retirement savings in IRAs or 401(k)s, they

In May, inflation abated a bit and gasoline prices fell 19% — that should feel good at the household level. Inflation is mending and the general sentiment is that the Federal Reserve rate increases are on hold. What’s Your Inflation Language? ADVERTISEMENT How you refer to the current period of price hikes can signal what

As the only capable adult child with two difficult aging parents, Liana’s situation is not unique. The burden of trying to keep them safe falls squarely on her alone. And she has avoided for too long the unpleasant subjects she needs to discuss with them. They are in denial. They resist. They get angry when

U.S. sweats workers the best! A new report by Oxfam finds among 38 rich nations in the Organization for Economic Cooperation and Development (OECD) the U.S. is first — number one! — among the bottom feeders in wages, worker protection and labor rights. The U.S. ranks 36 out of 38 in wage policies, Mexico is

A Medicare Advantage PPO (preferred provider organization) plan is an important option for many Medicare beneficiaries. If you’re getting ready to enroll in Medicare or perhaps considering changing plans during the Open Enrollment Period in the fall, here are 10 important things to know. 1. There are two types of PPO plans. In 2023, 40%

In May, inflation abated a bit and gasoline prices fell 19% — that should feel good at the household level. Inflation is mending and sentiment is that the Fed won’t raise rates tomorrow. What’s your inflation language? How you refer to the current period of price hikes signals what you believe causes inflation. Say “Demand

June 15 is World Elder Abuse Awareness Day (WEAAD). Launched in 2006 by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations, WEADD serves as a call-to-action for individuals, organizations and communities to raise awareness about elder abuse, neglect and exploitation. Helping to protect and enrich

Congratulations! You’ve made it to retirement. All the working, planning and saving you’ve done over the last 30, 40 or even 50 years has led up to this moment. But just because you’ve reached retirement age doesn’t mean you can stop planning. Instead, it becomes even more important to continuously evaluate how your plan is

Peter contacted my company about his situation recently. He is 68 years old and still working. He enrolled in Part A two years ago because his company’s group health plan was terrible. He was probably going to need surgery and the hospital deductible was outrageous (his words). He changed jobs recently and his new employer’s

Imagine having multiple sclerosis and being in a wheelchair for 25 years. That was Eleanor, in Tennessee, feeling trapped. When her neurologist told her she would never improve, she refused to accept this pronouncement. She had a quality of defiance. Her thought: “Don’t tell me I can’t do something. I’m going to prove you wrong”.

You’ve seen the headlines. The United States Postal Service (USPS) has been losing money. (A recent USPS press release said it’s already lost $2.1 billion this year.) So, Congress passed the Postal Service Reform Act of 2022 (PSRA). The Office of Personnel Management (OPM) published the interim final rule on April 6, 2023, and it

Surprisingly, one of the first signs of mild cognitive decline can be suffering a financial loss due to making a mistake, such as not correctly completing an investment transaction, or becoming a victim of fraud or exploitation. In many of these situations, retirees are still highly functioning and don’t have severe symptoms of dementia or

A piece published by the American Bar Association’s Senior Lawyers Division reports on the international conference of the Alzheimer’s Association. The Division consists of lawyers over age 50. Health is a topic of interest to this group, of which I’m a member. A part of the conference focused on a study of the eating habits

“I can’t wait to retire and live on the beach!” In the last thirty years of being a practicing financial planner, I’ve heard some version of this sentiment more times than I can count. It may sound like a throwaway statement or a pie-in-the-sky type dream, but the fact of the matter is that deciding

Maria is a 90 year old, hardworking woman who raised four kids and some grandkids as well. She quit her humble work as a housecleaner when her husband fell ill. She stayed home to care for him. She also helped raise a grandson, when her son and his wife split up and left him to

Have you ever received a piece of news that instantly transported you into the future and changed the way you saw everything in the present? In mid-March, I was checking in with my wife by phone from a hotel room in Atlanta following the first completed day of my new job, and I could tell

The May 2023 jobs report may give the Federal Reserve another reason to pause on interest rate hikes and another reason new graduates should not burst into the interview room asking for a big raise and remote work. Workers may have a harder time getting the pay and perks they saw just last year. Worker

As you make important decisions that affect your retirement, one key step will be to closely examine your retirement beliefs and assumptions. Doing so can help you avoid making serious mistakes and put you on the right path for making more effective decisions. People’s beliefs and assumptions about retirement are often based on examples of

Spousal benefits are probably the most misunderstood Social Security benefit. Ex-spousal benefits may seem even more convoluted. To keep things simple, ex-spousal benefits are basically the same as current spousal benefits with certain exceptions. There are two categories of divorced spouses. If you are divorced two years or less, your ex-spouse must be receiving their

The self-employed and those who run private practices must manage a whole myriad of concerns, which regular employees do not. But there are ways that the self-employed benefit from the status, and there’s no better example of that than with retirement plan options. It’s a tool, however, that those that work for themselves are often