Bad Financial Decisions May Be Sign of Dementia
Education level plays a role in risk The study found no correlation between decreased credit scores or payment delinquency and other medical conditions, such as hip fractures, arthritis or glaucoma. (In fact, glaucoma was more commonly associated with a lower risk of missed payments and subprime credit scores.) Heart troubles, such as heart attacks, were […]
Can You Retire Early?
You may not know this, but the average age for retiring in the United States is 65 for men and 63 for women. That 63 to 65 range seems reasonable, but today’s version of social security views “full retirement age” as 67 for anyone born after 1960. Although age may be a deciding factor for […]
3 Retirement Planning Steps To Take Before 2020 Ends
Despite new challenges brought on by COVID-19 in 2020, retirement planning remains a core part of financial security. All retirement planning is deeply personal. It is not just about saving money, reducing taxes, or having money that lasts a lifetime – it is about accomplishing goals and living with dignity throughout life. Because of this […]
Social Security Gotchas During The Pandemic
Retirement planning is tough enough without the additional challenges created by the pandemic. Forced and early retirements, shuttered businesses and unexpected financial losses are all contributing to disrupted retirement plans, and one aspect of this planning that has been particularly troubling is Social Security. While this popular government benefit is a baseline floor income for […]
IRS Reduces Future Required Minimum Distributions Just A Little
The IRS recently issued proposed regulations that will reduce required minimum distributions (RMDs) on IRAs, other qualified retirement plans, and annuities. It’s a small help for retirement account owners who don’t need all the money they’re required to take from their plans each year. Most owners of IRAs and other qualified retirement plans who turn […]
Many Medicare-Related Costs Go Up For 2021
Working with your advisor to update your financial plan for next year? Maybe, sitting down to do your budget? Here are Medicare’s 2021 costs. Prepare to spend more. Costs that apply to any Medicare beneficiary There are some costs that everyone who has Medicare for healthcare coverage must pay. Part B premium Every Medicare beneficiary […]
Will Your Income Will Peak Earlier Than You Think?
In a perfect world, we all would make more money each year. Each of us would receive raise after raise compounding to a salary with plenty of money to live on while saving for retirement, the kids’ college, buying a home, and any other financial goals you may have, essentially the American Dream. Unfortunately, most […]
Rethinking Retirement
When someone retires, three substantial changes take place, said Ken Dychtwald, psychologist, gerontologist and founder and chief executive of Age Wave, a consulting and research company. “They struggle with their identity, relationships and activity,” he said. “Some people feel unsettled, anxious or even bored, but eventually they realize that relationships, wellness and purpose really matter […]
How To Simplify Your Decision Making Process For Retirement Planning
It’s easy to be overwhelmed by all the decisions you need to make when you’re preparing for retirement. So, let’s talk about toothpaste. That’s a more manageable topic than retirement, right? Imagine you need to buy toothpaste. You’re standing in the toothpaste aisle of your grocery store. Before you are dozens of toothpaste options. There’s […]
Why And How You Need To Think Hard About The Next Bear Market Now
Most investors worry about the next market downturn and try to figure out when it will occur. But they don’t develop specific action plans. That’s a major oversight. You need to plan now for the next downturn. Back in March when the markets and economy plunged, many people didn’t have plans. Of course, few were […]