Retirement

With all the talk lately about a looming recession, I’ve been thinking about strategies that retirees and pre-retirees can adopt to protect themselves from severe financial disruptions if the predicted recession lands on our doorstep. It reminded me of how my parents retired and recession-proofed their retirement. In the fall of 2008, I asked my

The issue of teacher shortages is a problem plaguing schools and communities across the nation, and one that is reaching crisis levels. Historically, a majority of people would like to see their child become a public school teacher. That has been changing. In 2022, 62 percent said they would not like to see that happen.

Perhaps you are familiar with sibling rivalry. It’s common, but when it surfaces in the face of managing an aging parent, sibling relationships can explode. Here’s a real life example: Jason and Jerry are brothers, just two years apart. Both have accomplished much in their professional lives. Jerry likes to be in control of things,

Estate taxes aren’t a widespread concern today but will be if Congress changes the rules or lets the 2017 tax law expire at the end of 2025, as is currently scheduled to happen. A good way to reduce or eliminate estate taxes is to reduce the value of your estate by making tax-free gifts. Smart

Recently, Hank, a veteran, wrote me to say he doesn’t understand why veterans have to pay a penalty just because they don’t enroll in Medicare Part B, medical insurance. He wanted answers to some questions about the Part B late enrollment penalty. Q: Why is there a penalty if someone doesn’t enroll in Part B?

January 2004. I’d been in the financial business for five years. Having spent the first four on the institutional side, I was a newly minted financial advisor, building a business from scratch without a salary or stipend. And then came our first child and the decision to eliminate our only predictable income stream. I remember

As the Covid-19 public health emergency ends, many older adults who need a post-hospital stay in a skilled nursing facility (SNF) will be in for an unpleasant surprise: Traditional Medicare may not pay. The change, one among dozens that affect older adults, restores rules from before the pandemic. But they are complicated and will shock

House Republicans have now passed legislation that would drastically cut people off from a wide range of programs vital to their financial security in exchange for a promise to let the federal government honor its past commitments and pay its bills. These cuts if indeed enacted would sharply reduce spending on a number of programs

Your spouse recently died leaving all her assets to you. Your attorney has assured you that no estate tax is due, but you still need to file an estate tax return. Do not overlook the importance of filing the return. It may save your family millions in estate taxes after your death. The estate tax

People fear the unknown. Are you one of them? Think of how you felt when you started a new job. Were you a bit anxious the first time you walked into the office? Or how about your first child? Did you wonder if you had what it takes to be a good parent? While they

A lot has been written as to why you should wait until 70 to start collecting your Social Security benefits. In the right situation, that is a true statement, but everyone’s situation is different. I have always said that there are as many good reasons as bad reasons to wait to collect your Social Security

Are you worried about getting Social Security as promised? If you’re not, don’t read the following paragraph. The Social Security Administration recently issued a message to the public summarizing The Trustees of the Social Security and Medicare trust funds report. It stated, “The Old-Age and Survivors Insurance (OASI) Trust Fund will be able to pay

One of the things that limits textbook financial planning from offering the biggest benefits to wealth management clients and do-it-yourselfers is that the not-so-almighty dollar is just one of several scarce resources at our disposal. When viewed only through a singular lens, and irrespective of the remaining resources, money simply does less good. But when

Friday’s strong jobs report was a surprise. The unemployment rate is only 3.4% —lower than last month, lower than just before the pandemic, and just a bit higher than the historic lows in 1955. Jobs are up 235,000, well above expert forecasts. But fewer people are entering the labor force even though higher wages and

The federal Centers for Medicare and Medicaid Services (CMS) has moved to increase pay for home care aides and others who provide personal care for frail older adults and younger people with disabilities. It has proposed new rules requiring Medicaid home care agencies to direct at least 80 percent of program payments for personal care

Our government is currently focusing on the mental health of elders, particularly the loneliness they experience. For those with aging loved ones, pandemic related social isolation exacerbated what was already an underlying problem. Many elders do not have consistent, meaningful connections with enough others to prevent the sadness and hopelessness so many experience every day.

“I’m scared about my investments due to recent stock market declines, high inflation, and the jump in interest rates. Where do you think the markets are headed right now?” This question was posed to me at a recent lunch I had with a retiree in her late 70s. “To be perfectly honest, I don’t know,”

Republicans in the House of Representatives are holding the federal government’s ability to pay its bills hostage to enact draconian cuts to a wide range of programs related to health care, science, housing and food security. The U.S. Treasury Department now warns that the federal government may be unable to pay all of its bills

Nikki Haley, a Republican candidate for president, recently stated on Fox News that “…if you vote for Joe Biden, you really are counting on a President Harris because the idea that he would make it until 86 years old is not something that I think is likely.” While that might make a catchy political sound

The verdict is in: Women are better investors than men. Actually, the conclusion has been addressed, researched, and reported several times now, going all the way back to Barber and Odean’s “Boys Will Be Boys” study completed in 2001, referencing the differences in investment performance by gender. But the lessons to be learned are evergreen