FAQ: At what age should I consider long-term care insurance? Answer: This is an extremely common question amongst those near retirement. Most people planning for their retirement understand that we have programs such as Medicare to help with acute care. Essentially, if we get sick or hurt and need professional help to get better, all […]
3 Financial Resolutions You’ll Want to Keep
Resolve to Become Healthier For many people, healthcare will be one of their largest expenses in retirement. A couple age 65 who retired in 2020 is estimated to need $295,000 to cover medical expenses throughout retirement, according to Fidelity Benefits Consulting. By the way, that estimate does not include any costs associated with nursing-home care. […]
Holiday Savings Tips for the Last Minute Shopper
You contemplated Black Friday shopping while snuggled in bed; visions of chaos danced in your head. With all the shopping days left, you took a pass; but boy oh boy, that time went by fast! But alas, all is not lost! Here are three tips to help lower the cost! 1. Gift an Experience! Make […]
Retirement FAQ: How Much is Enough for my Emergency Reserve?
FAQ: How much cash is enough for my emergency reserve? When it comes to your emergency reserve, rules of thumb abound. “You need 6 months of living expenses in cash!” “Always keep enough cash to cover your basic expenses for one year!” “You must have at least $10,000!” “Subtract your age from your IQ and […]
Money Saving Tips: Warding Off Electricity “Vampires”
Money Saving Tips: Save Money on your Energy Bills by Warding off the Vampires Halloween is over; your decorations have been packed away and your candy supply is rapidly diminishing. But your home is still haunted by vampires, and you pay the price each month in utility charges—Electricity “vampires” account for up to 20% of […]
Forced Into Early Retirement Due to Covid? What You Need to Know
Covid-19 has left many companies faced with the undesirable prospect of having to lay off many in its workforce. Although this can be financially devastating to younger workers with families, for those only a few years from retirement, it may do nothing more than speed up their plans. If you find yourself in a position […]
Retirement FAQ: Should I Hold Off On Investments Until After The Election?
FAQ: I’m near retirement and with the election right around the corner, shouldn’t I be very conservative until after the election is over? We have been fielding this one often lately, and understandably so. The 2020 election seems like none we have experienced in history. The rhetoric is far more partisan than it has ever […]
Collecting the Lump-Sum or the Annuity Payments: Which is Better?
Retirement should be filled with freedom, leisure, travel, and time with our loved ones. However, it can also be filled with angst if we don’t properly plan for potentially 30+ years of expenses without the income from a job. Most people only retire once, which means you have no experience doing it and once your […]
The Single Most Important Retirement Strategy
Saving and planning for your future can be daunting. There are so many aspects to our personal finances and each one of those facets has nuances that make understanding it all overwhelming. The good news is, planning for your retirement doesn’t have to be complicated and, at the risk of oversimplifying things, there is really […]
Retirement FAQ: Should You Buy Apple Stock After The Split?
FAQ: Is now the time to buy Apple stock since it split and is cheap? Answer: No. We are getting this one a lot lately. Apple and Tesla are both darlings of the tech world recently and both announced stock splits at the same time. There seem to be two fundamental problems with this question, […]
