Category Archives: Financial

Student loans may go into default if co-signer dies or declares bankruptcy

Financial planners recommend that if you have to choose between financing your retirement and financing your child’s (or grandchild’s) education—choose your retirement.  That’s usually because it’s difficult for most people to do both and their retirement savings take a hit as a result.  But, if you are only thinking about co-signing a loan rather than…

Nursing home rates jump over 4 percent from last year’s price: have you planned?

We’re getting rained on this week in the Pacific Northwest so we’re likely to miss some important news about rain.  Mainly that California hasn’t had enough rain in three years to sustain it’s role as the breadbasket of the nation.  The result is that the cost of produce is expected to jump in the next…

Should parent’s transfer their home to a child?

Are you considering transferring your home to your child while you are still alive?  Sometimes parents go this route because they want to reduce the taxable value of their estate; because they want to help their child out; because they want to qualify for Medicaid, or because they want to make sure the home stays…

Social Security and your ability to retire

Do you want to feel confident about retiring?  Participate in a retirement plan.  A strong correlation exists between participation in a retirement plan and increased confidence in the ability to retire comfortably according to a report released in March from the Employee Benefit Research Institute (EBRI), a private, nonpartisan, nonprofit research institute that focuses on…

7 reasons you may still need life insurance after age 65

Three-quarters of American workers expect to continue working through their retirement years.  Of those that do, 39 percent say they will because they like to work, a third say they have to work because they need the money and some unsurprisingly say that both reasons factor into their decision to continue working after retirement age. …

White House considers whether Social Security strategy disproportionately benefits the wealthy

Maximizing Social Security strategies is becoming big business or at least it’s becoming bigger business than it used to be thanks to a number of strategies that became available in 2000.  One of those strategies is called file-and-suspend.  That strategy allows the higher wage earner in a couple to file for benefits to allow the…

SSA will expedite benefits for veteran with 100% Permanent & Total Disability

Under a new program, Social Security disability claims for veterans with a VA disability compensation rating of 100 percent Permanent and Total (P&T) will be expedited according to the Social Security Administration.  To receive the expedited service, veterans must inform the Social Security Administration that they have a 100 percent Permanent and Total disability compensation…

7 retirement mistakes to avoid

Most things in life offer a second chance.  One that doesn’t is retirement planning.  While the list of mistakes people make in planning may be long, they fall within a few areas: 1. Failing to make provisions for catastrophic events.  A financial plan that fails to allow for adjustments due to a major shift in…

What happens with your reverse mortgage after you die

Federally insured reverse mortgages are a way for homeowners 62 and over to borrow money using their home as collateral.   This allows a homeowner to continue to live in the house, as long as the house is their primary residence, without having to make payments. Reverse mortgages come due when the last borrower on the…

Marriage impacts the financial and medical health of retirees

Married people lead overwhelmingly healthier lives than their single counterparts.  Studies have shown they have  50 percent less risk of Alzheimer’s than their single counterparts, are three times more likely to survive heart surgery, are less likely to get the flu, and more likely to survive cancer.  The poverty rate for seniors rises from 4.6…