Retirement

Financial foolishness is everywhere and easy to spot, but one of my favorite pastimes is finding financial wisdom where you might not expect it, especially in the arts and music. In past posts, I’ve explored the profound financial insight of Bob Marley, Mumford and Sons, Jason Isbell, and the Avett Brothers. Today we examine the

Scammers will find a way to trick older people with the most underhanded schemes. Most older folks receive Social Security and it is an important income source for many retirees. When someone calls them and tells them that there is “legal activity” or that someone is using their Social Security number illegally, it creates alarm.

Living with memory loss and other cognitive limitations is hard. But when you can’t remember or can’t process information well enough to make important decisions, and you have no one by your side to support you, life can be extra tough. Researchers at the University of California San Francisco ((UCSF) estimate that about 4.3 million

Those paying close attention to Social Security will recall the latest trustees’ report detailing how the Social Security trust fund could run short of money as early as 2034 unless Congress acts to shore up the system’s finances. The report also noted that “lawmakers have many options for changes that would reduce or eliminate the

The epitome of the American dream is to be a family-oriented entrepreneur who has created a successful business. Your company is not only a source of pride, but also the basis for your wealth in retirement and a legacy to leave your family. There is often a wrinkle in this dream that occurs when you

This is the hottest summer ever, news reports tell us. We stay inside, we use air conditioning, we hydrate well. But some aging parents who live alone or with only part time help at home are at particular risk. It’s not just that older people can’t regulate their body temperature as well as younger people.

How in the world could you ever justify spending $500 or more on a pair of sneakers? That’s how I interpreted the question posed by the Wall Street fugitive, Khe Hy, when I saw this tweet: Knowing Khe’s penchant for nuance, his question likely wasn’t as direct as my initial translation, but that’s how it

If you want to become financially independent, you’ve got to know what it means to be financially independent. It’s not that difficult to get your arms around. A straightforward operational definition does the trick. “You will know if you are financially independent if you have eliminated your debt, have a financial reserve that can sustain

For cryptocurrency investors in the U.S., life has gotten more difficult lately. In June, the SEC filed lawsuits against the two largest crypto exchanges, Coinbase and Binance, accusing them of selling unregistered securities. In response, Binance announced it would suspend deposits and withdrawals in U.S. dollars, becoming merely a crypto-to-crypto exchange. Effectively, this means there

Should “I Love You” Mean Pooled Finances? There was a recent column in the financial press with financial advisers commenting on whether couples should pool their finances. The advice given might have been appropriate for the particular couple involved in the story. But the couple being addressed had very specific facts that are not an

There’s one decision you can make—and commit to—that gives you the best shot at attaining financial independence. It’s not something everyone can do, but if you can, it’ll increase the odds you can more quickly find the off-ramp from rush hour to easy street. What is this Holy Grail of actions that can lead to

Simple Definition of Descendant Here is a simple definition of “descendant” from a trust document: “References in this Trust Agreement to a person’s “children,” “grandchildren,” and other “descendants” shall refer respectively to that person’s children, grandchildren, and descendants, whenever born, as determined according to applicable governing law, except to the extent modified herein.” [Sample clause

The decision to invest in stocks or other risky assets depends on factors such as age, savings, and personal needs. If you’re well into retirement, have substantial assets, and don’t have a specific requirement to leave a significant inheritance, you might want to avoid investing in stocks altogether. This is particularly true in today’s context,

You may think that a high-paying job presents the key to your lifetime dreams, but don’t count your chickens before they hatch. You’ll need to pursue something beyond that status quo if you want to achieve true financial independence. And that job, if you don’t use it in the proper context, might be the crutch

Fascinated with the rapidly emerging technology of ChatGPT, I wanted to check it out. What would it do with a general question about aging parents, my field of expertise? The technology is free and opening an account is simple. But how good is the information it generates? It is not a thinking being. It’s a

My father was a lifelong member of the local Steamfitters union. When he hung up his green work cap for good in 1982, he enrolled in Medicare Part A, hospital insurance, and Part B, medical insurance, and the retiree plan. He had that coverage until he died. Back in my father’s day, signing up for

Do you want to retire in comfort? What does that mean? Everyone has their own vision of what a comfortable retirement looks like. But there is a common thread you share with all of them. To retire with ease requires something akin to financial independence. This is the ideal. This is where you don’t ever

Looking for the best places to live around the world? There’s no better source than expats, who have a unique POV on what it’s like to live in a foreign country—and in the U.S. For the 10th year in a row, InterNations has polled nearly 12,000 expats around the globe to come up with a

Do you know your life expectancy? This number may be more important in determining your investment time horizon than how close you are to retirement. Yet, the latter is what we tend to focus on. After all, most people think about how many years they have until retirement when they’re deciding how aggressively or conservatively

While many states have expanded their Medicaid home and community-based services (HCBS) for frail older adults, others continue to steer many enrollees into nursing homes. One big reason: They fear that enhancing home supports will encourage more older adults to enroll in Medicaid long-term care services (LTSS) and increase state costs. But a new study