Retirement

The youngest members of Generation-X are now in their 40s, while the oldest Gen-Xers are now in their late 50s. This means it is time for Gen-X to get serious about retirement planning. Are you saving enough for retirement? Are you on track for financial freedom? Sadly, many members of Gen-X will answer no to

Retirement planning is about more than just accumulating wealth. All the money in the world won’t bring you happiness if you have no way to enjoy it. Likewise, no amount of money can buy you perfect health. However, there are things you can do today to improve your healthspan in retirement; some cost money, and

The 4% Rule seems so simple. Multiply your savings by 4%, and that’s how much you can spend the first year in retirement. After that, adjust your spending by the reate of inflation. It’s simple, right? Not so fast. While many people nearing retirement have heard of the 4% Rule, few have read the 1994

Fresh off writing about how the extensive Harvard study on human development shows us how we can invest in our personal happiness, I read a snippet in a much-anticipated new book that illuminates quite the opposite—how we can use financial planning to decrease our happiness and strip ourselves of the joy in life that is

October is Open Enrollment month. Medicare beneficiaries get a chance to make changes to their coverage. Here’s a question I received recently. “I have a retiree plan that is adequate for my medical and dental needs, but it does not cover vision care and I really need new progressive bifocals. I am considering enrolling in

Pick up a publication, turn on the TV, and you’re likely to find something like this. “Inflation Reduction Act Continues to Lower Out-of-Pocket Prescription Drug Costs for Drugs with Price Increases Above Inflation” Or this. “FACT SHEET: Seniors Across the Country Are Saving Millions of Dollars in Health Care Costs Because of President Biden’s Prescription

Peter Attia, MD, has written an excellent book on how to keep ourselves from getting common chronic illnesses with aging. It’s Outlive: The Science & Art of Longevity, which offers a clear strategy to avoid these illnesses. He refers to those which kill the majority of Americans as the Four Horsemen. They are heart disease,

Minnesota and Washington are the states that provide the best services and supports for frail older adults, younger people with disabilities, and their families, according to a new study by AARP. The worst performers: Alabama and West Virginia. AARP defines superior supports and services as those that are affordable and accessible, give families a choice

Minnesota and Washington are the states that provide the best services and supports for frail older adults, younger people with disabilities, and their families, according to a new study by AARP. The worst performers: Alabama and West Virginia. AARP defines superior supports and services as those that are affordable and accessible, give families a choice

“I’ve been rich and I’ve been poor, and I prefer rich,” my friend Jim Stovall told me. It’s just one of many things I learned from Jim. We co-authored a book many years ago—my first, his…who knows how many! But like millions of other readers, I was drawn to Jim’s work because of his best-selling

Can the Consumer Financial Protection Bureau (CFPB), a Federal Government agency, protect unsophisticated consumers transacting in complex markets? It can but it doesn’t. I will illustrate with one of the most complicated financial instruments a consumer is likely to encounter: a HECM reverse mortgage. That HECM borrowers must be 62 or older, which is past

If you want a tough challenge to address in your spare time, try pinpointing your retirement needs. Why? You’re not only trying to determine what you will need based on spending today for the future, but you also must consider what your lifestyle will be like in 10, 20 or 30 years. This makes for

Heritage is a source of pride for many Americans, but did you know that it can also open the door to residency or citizenship in another country? More than a dozen European countries allow you to claim residency or citizenship through ancestry. If you have a parent, grandparent, or great-grandparent who was European, there’s a

Where we live shapes most every aspect of our lives. Many of us simply grew up where we were planted. Home was where your parents made it, and likely their parents before them. But as travel options expanded and opportunity-rich destinations beckoned, many young people flocked to cities in search of their own fortunes. High-paying

Dying is cheap, living is expensive! The most asked question I receive is, “Should I claim benefits early or wait?” My answer to that question is that every situation is different and there are no rules of thumb to answer that question. The question I would then ask is do you expect to live to

Where we live shapes most every aspect of our lives. Many of us simply grew where we were planted. That is to say, home was where your parents made it, and likely their parents before them. But as travel options expanded and opportunity-rich destinations beckoned, many young people flocked to cities in search of their

Unfortunately, it happens all the time—a person’s longtime spouse dies, a new suitor swoops in, and the person quickly marries against the advice of family, friends, and advisors. What happens next can be a nightmare for the family, resulting in costly legal battles. Even worse, many people in this situation spend their final days without

Retirees who rely significantly on their IRAs and 401k accounts to pay for their living expenses face a serious challenge: How do they carefully invest and draw down their retirement savings to spend on living expenses, with the goal that they don’t outlive their money and recognizing that they might live a long time? Here’s

Where we live shapes most every aspect of our lives. Many of us simply grew where we were planted. That is to say, home was where your parents made it, and likely their parents before them. But as travel options expanded and opportunity-rich destinations beckoned, many young people flocked to cities in search of their

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