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...
If you turn 60 years old in 2020, your Social Security benefit may get hit with a double-whammy. People turning 60 this year are at the tail end of the Baby Boom generation, and the first Americans ever required to wait until age 67 to receive full Social Security...
“Will I outlive my money?” That’s one of the biggest concerns for most retirees. There’s the high cost of medical care, which gets more expensive all the time. There’s inflation, which raises the cost of goods and services, eating into your retirement budget. And then, there’s taxes, which are...
The most frequently asked Social Security question I get is, “When should I claim my Social Security benefits?” Well, that’s a loaded question, because there are so many moving parts and everyone’s situation is different. So, here are some considerations when you’re trying to figure out when is the...
Retirement is the time you want things to run smoothly. After all, you’ve spent a lifetime preparing for retirement—saving money, paying things off, having plenty of retirement income. The last thing you want is a notice from the IRS informing you that you’re going to be audited.
Chances of an...
My parents were depression-era babies. And like many of their generation who experienced those years of economic desperation, when things improved, they planned and saved for the future to avoid that kind of distress ever again. They taught me to do the same.
But there was another philosophy prevalent among...
