Retirement

She was a heavy smoking, alcoholic, obese woman who reached her first breaking point 40 years ago. After DeEtte Sauer’s friend drank himself to death, she woke up to her own alcohol dependency. She resolved to stop drinking, joined Alcoholics Anonymous and stuck with that. She went on to quit smoking, which she found extremely

Opps, total nonfarm payroll employment increased by 209,000 in June, far below the 225,000 economists expected yesterday. Workers are not getting or demanding big wage increases – though average weekly earnings for all private sector workers in June increased by a $7 to $1,155 up from May’s $1,148. But higher prices are still eroding buying

The Food and Drug Administration (FDA) has granted final approval to the anti-Alzheimer’s drug lecanamab, marked as Leqembi by drugmakers Eisai and Biogen BIIB . Here is what you need to know: What does it do? In a formal phase 3 trial, Leqembi was shown to slow the progression of memory loss and cognitive impairment

Most people do not like to talk about death. But an important part of your financial health is what happens to your Social Security benefits when a spouse passes away. To qualify for Survivor Benefits: Survivor needs to be at least 60 and not married, or 50 if disabled You need to be married at

Independence, self-reliance, self-sufficiency, are all laudable goals for us as individuals. Independence is the hallmark of a well crafted and administered estate plan. But independence requires that you be prepared. A friend, recently called me. Let’s call her Joan. Joan, unfortunately, recently had a stroke and is struggling with her new realities and limitations. Joan

As you gather with friends and family under the annual fireworks display every July Fourth, do you or anyone else in your crowd stop to wonder how our Founding Fathers felt about financial independence? Sure, you all know what they thought about forming an independent nation. That act gave them (and you) the freedom to

Did you know there is still a place in the U.S. that requires you to sit in your car and wait for an attendant to pump your gas? It’s called New Jersey, and when Oregon passed a bill last week ending its 72-year ban on self-service gas in parts of the state, it left the

When private practitioners and solo entrepreneurs begin building their venture, the exit plan from the business is often furthest from their mind. But, as time goes on, this mindset can leave a significant hole in their financial picture, especially if they believe the business cannot function without them. In such cases, it values the most

Jetset retirement destinations are beautiful, welcoming, safe havens that offer exclusive lifestyle opportunities—ideal for discerning retirees who are looking to live large in retirement. An important point of difference between jetset retirement and regular overseas retirement is that budget is not a dealbreaker for the former. Jetset retirees recognize that the best possibilities to get

If you haven’t taken your required minimum distribution from your traditional IRA yet for 2023, have you considered your options now that half the year is gone? What if you don’t need that money to help pay your current expenses? A “QCD” could be a valuable option for you if you have a charity you

Opening a Roth IRA for your child is a great way to put them on a path toward a financially stable future. But it’s not as simple as opening a basic savings account. Before you go to the bank, here is what I think you should know: What’s a Roth IRA? A Roth IRA is

A long-neglected factor to consider when choosing a residence is becoming more and more important to those who relocate in retirement. Because many people don’t consider the factor, it’s causing a lot of financial pain. The overlooked factor is homeowner’s insurance, something that most people take for granted when buying a home. The problem is

You have worked all your life, what kind of wealth are you likely to have? Here is the thing. Most older adults and households nearing retirement don’t have any significant stock holdings; people nearing retirement don’t have large amounts of home equity; most people nearing retirement have small or nonexistent retirement plans. Wealth Is Falling

When it comes to retirement planning, you may have heard a lot about the benefits of tax-advantaged retirement accounts, how to choose investments, and maybe some of the details of any pension plans that you’re fortunate enough to have. But what about Social Security? After all, this program is a major source of income for

Background In a recent case owners of a closely held business got bad news. It is common to have a closely held business own life insurance on the owners (e.g., shareholders if it is a corporation). When an owner dies the business uses the life insurance proceeds on the owner’s life to buyout the equity

Have you made any mistakes with your money? If so, I have some good news for you: Financial planning is, at its core, an exercise in mistake management, and failure is far from fatal. My friend and colleague, Heather Fortner, the CEO of SignatureFD, a financial advisory firm that manages about $7 billion for roughly

There are two tools available for passing the bulk of your financial legacy. The best choice for one person might not be optimum for another. Either a will or trust can be the foundation of your estate plan. If it’s a trust, it’s usually a revocable living trust. They’re not exclusive. Most estate plans have

Most people (69% of men; 81% of women) experience some sort of unexpected event after they retire, according to a recent survey conducted by Age Wave and Edward Jones. As a result, a very high percentage of retirees (93%) agree that preparation, flexibility, and willingness to adapt are keys to thriving in a potentially long

The world’s current richest person can teach all of us how to prepare our heirs to inherit, though our estates are going to be substantially less valuable than his. Parents frequently worry that their children aren’t prepared to inherit the wealth that likely is coming their way. Whether the inheritance is likely to be a

The Bureau of Labor Statistics estimates that over the next decade the labor market will continue to age, with the greatest growth coming from workers aged 55 and over. Among those aged 65 to 74, 32% expect to still be working in 2030, compared with 27% in 2020 and 19% in 2000. According to a