Category Archives: Financial

12 things to include on your pre-retirement checklist

Before going on a long trip, you make a checklist so that you don’t forget anything.  It can be aggravating to get to the beach only to realize you forgot the sunscreen or your bathing suit.  The same sort of planning can help in preparing for retirement.  The list may even provide a means to…

Should you worry about “death taxes?”

Estate taxes are taxes on property such as cash, real estate, stocks and other assets, transferred at death.  A lot is made about the “death tax” as even its alias makes clear.  Perfectly intelligent people suggest that estate taxes suck the lifeblood out of every American bold enough to work for something better than what…

Location, location, location

Location, location, location.  That quote is a familiar refrain from the real estate world but you might hear it from your financial advisor too.  Financial professionals aren’t talking about a piece of property though.  They’re talking about asset location.  Social Security, Roth IRAs, traditional IRAs all require a strategy to help keep your taxes at…

9 Retirement myths you need to ignore

Preparing for retirement is hard enough but if you believe these retirement myths, you’re likely to run out of money early.  Unfortunately, most of these myths are still being bandied about. You can rely upon Social Security. The average Social Security benefit is $1,328 a month, an amount close to poverty level. Social Security was…

Tips to avoid outliving your financial nest egg

The choice of when to retire needs to take into account your financial picture and not factor so much into whether you’re tired of working.  Having a budget and learning how to live within it now while you are working will improve your ability to live on whatever retirement budget you have later.  According to…

Reverse Mortgage Changes Will Take Effect in April

Beginning this spring, homeowners applying for a reverse mortgage will have to undergo a financial assessment to determine whether they can handle the ongoing costs of the loan. The Department of Housing and Urban Development (HUD) announced that financial assessment for reverse mortgages will come into effect on April 27, 2015. It is poised to…

Predicting health care costs in retirement

Health care expenses are a key component to retirement expenses, representing the second highest share of household expenses (behind housing costs).  When you are looking at expenses to determine whether you can afford to retire, a new report suggests that health care expenses break down into two categories.  The report, put out by the Employee…

Protecting your 401(k) from excessive costs

Many Americans focus their retirement savings plans almost exclusively upon their 401(k) plans through their employer.  But, high fees cost Americans tens of thousands of dollars over the course of their working lives.  Those plans have costs that are deducted from your investment each year.  According to online financial advisor, FutureAdvisor, a working couple could…

What do you need to do to successfully age?

When people think about retirement they usually think about their savings plans or where they’re going to go now that they have so much free time.  You hear people say all the time that they are going to spend time with their family or get some fishing in.  You might hear them say that they…

Incorporating financial planning into the divorce decree

Gray divorces, that is divorce between retirement age spouses with long-lasting marriages requires careful consideration and planning by both spouses.  Generally, older couples aren’t worried about custody of the kid or kids but instead they need to worry about things like pensions.  Roughly 1 in 4 divorces in 2010 occurred to people 50 and older…