It’s a name change, but a necessary one. What we’ve always called Retirement Planning is quickly becoming Longevity Planning as Americans live longer because of better lifestyles and improvements in medicine.
My own family is a perfect example. My great-grandfather died when he was 65. My grandfather was 82 when...
Alhambra's Bob Williams explains Social Security Cost of Living Adjustments and their effect on the Survivor Benefit.
I was having a
conversation about retirement health insurance with an acquaintance of mine who
just retired. He’s a former corporate executive—an analytical person—who’s
always done his homework to avoid as many surprises as possible in the business
world. He’s done the same thing with healthcare and decided that a Medigap
policy is best...
1975 was a big year in financial annals when Americans were given a brand new way to save for retirement in something called an Individual Retirement Account—an IRA. You could put money into the account before taxes and the money got to grow tax-deferred. You didn’t have to pay...
What feeling do you have when you hear IRS? Is
there a sick feeling in the pit of your stomach or do you just roll your eyes
knowing that April 15th will be here all too quickly? Throw in the
word audit and emotions and blood pressure can reach levels you never...
How
do you know if your financial adviser is acting in your best interest? It’s
ashamed that the question even has to be asked—but it does. Are you truly working
with a financial adviser, or are you dealing with a financial salesman?
In
its simplest form, a financial adviser is someone who places your...
Oh, my! I cringe every time I hear that someone has added their kids’ names to the deed of their house as an estate planning technique. It’s done for the right reasons, but it often backfires.
Sometimes, elderly people will add kids to the deed, thinking they’re removing the house...
Every little bit helps, especially in the worst inflationary period in 40 years. But for people who have to take Required Minimum Distributions (RMD) from Traditional IRAs, Inherited IRAs, and Retirement Plans, there’s good news. Beginning in 2022, the amount you’re required to withdraw goes down meaning your tax...