Retirement

I ntroduction The gift, estate and generation skipping transfer (“GST”) tax exemption will increase substantially in 2023. What does that mean for your estate planning? Keep on Planning The current estate tax planning circumstances provide continued opportunity to plan. In part that is because most estate planning techniques in your advisor’s toolkit remain viable. For

The collapse of the cryptocurrency exchange FTX sent ripples through the trading markets. And more. It’s a story that involves politicians, celebrities and, quite possibly, geopolitical intrigue. As investigations are ongoing, the truth won’t be known for some time. “FTX shut down its operations after it was revealed that the company was engaged in fraudulent

Senate Finance Committee Chair Ron Wyden (D-Ore.) expects the SECURE Act 2.0 retirement bill to pass out of Congress to the president’s desk before January. The bill could have up to 70 provisions and many will not have much impact on America’s retirement crisis. Many will make U.S. retirement wealth inequality worse. On the positive

About 60% of the homeowners reaching 62 today have outstanding mortgage balances, and most of them have limited financial assets. Such retirees, concerned (as most are) with having enough spendable funds during their retirement years, should take out a HECM reverse mortgage. This holds whether the HECM is used to pay off the existing mortgage

Congratulations, you’ve made the decision to start your own business. Well, maybe “business” sounds a little too formal. Perhaps it’s only a small retirement side hustle. This, in itself, can benefit you in more ways than you think. “Beyond financial rewards, there is a psychological benefit to having a venture to focus energy on,” says

What will last Tuesday’s election mean for older adults and their families? The slim Democratic majority in the Senate combined with what is likely to be narrow Republican control of the House likely means no new legislative initiatives will pass Congress in 2023. The Biden Administration’s ambitious plan to support frail older adults and their

The relentless pace of the Federal Reserve’s rate hikes are coming against a backdrop of large numbers of older adults struggling economically and taking on debt to make ends meet. Even before the pandemic, debt was growing among older households. And the pandemic hit older adults especially hard. They experienced outsized health and employment impacts

We’re in the middle of the Medicare Open Enrollment Period. Turn on the television and what are you likely to see? A commercial, and then another one, all for Medicare Advantage plans. These commercials, hosted by celebrities and former football players, tout the benefits of this coverage. Commercials, as well as mailings and websites, preach

Key takeaways Throughout periods of high inflation, there are certain companies that come out as winners and others that are losers. Sectors like consumer discretionary and tech can often struggle during periods of rising prices, while consumer staples and the energy sector tend to remain much more resistant. As well as certain stocks, there are

You’re either about to retire, just recently retired, or have been retired for some time when it strikes you out of the blue. It could be prompted by any number of factors. You could be worried about inflation eating away at your hard-earned savings. It could be you’re bored. Or it could be you miss

Assuming you and your job made it through the pandemic unscathed–or maybe only mildly touched–and you are now in your 60s or 70s, you might be starting to think about that life passage known as “retirement.” Retirement is more than an event; it’s a process. If you have been working steadily at a job, on

As the Federal Reserve has been increasing interest rates to combat inflation, there have been several obvious effects on the economy. New loan rates for the purchase of cars and home mortgages have gone up and, in many cases, have doubled from where they were just 18 months ago. On the other hand, interest rates

It is well understood by now that the pandemic had adverse effects on mental health, particularly for school aged children. But officials have noted that isolated elders suffered tremendously as well. Our elders are the most vulnerable to Covid, and had to stay away from those they love because of the risk of life-threatening infection.

As I am writing this on Wednesday morning, November 9, 2022, the midterm results are not all counted and which party has control of the Senate and House of Representatives has not been determined. But no matter who wins, Bidenomics won the midterms. Since Joe Biden was elected President, with no Republican support, the Democrats

You’ve got the time. You’ve got the desire. And you’ve got a few extra bucks to spend. Starting a business in retirement sounds like a piece of cake. Don’t be lulled into a false sense of security. There are many ways to trip yourself up. And the downside isn’t just a failed business; it’s a

You’re retired. You’re no longer on the clock. You get to sleep in, spend time savoring your food and do just about anything you want to do any time you want to do it. Ah, time. You suddenly have loads of it. You probably have something similar to a laundry list of things to do

The Medicare Open Enrollment Period is in full swing. From October 15 through December 7 every year, Medicare beneficiaries have the chance to review their drug and Medicare Advantage plans. During this time, they can also add or drop Part D prescription drug coverage or Medicare Advantage plans, and switch from Original Medicare to Medicare

Key takeaways Inflation has increased 0.4% in October, below forecasts of 0.6%. This brings the annual rate down to 7.7%, the lowest level seen since January this year. It’s hoped that this will mean the Fed is able to implement their plan of slower rate hikes, which would take some of the immediate pressure off

Russ was a self-made multi millionaire who had invested carefully and done well. He lived in a comfortable, large home and had anything he needed. His wife passed after a long marriage. Throughout her life he had been particularly generous with his daughter. He had spoiled and supported Kris, as she didn’t care to hold

Why So Many Taxpayers have SLATs Lots of taxpayers have set up irrevocable trusts in recent years to use exemption (that is the amount you can give away without an estate or gift tax). In 2020 and 2021, the harsh Democratic estate tax proposals were the catalyst for a tidal wave of this type of