Category Archives: Financial

75% of Americans agree they would benefit from having basic financial education and information

Harris Poll conducted this year for the National Foundation for Credit Counseling and NerdWallet found that overall, three-fourths of Americans 18-plus say they would benefit from advice and answers to everyday financial questions from professionals. Yet, over 90 percent of Americans said that they were either confident or somewhat confident in their most recent big…

Veterans with VA benefits should still sign up for Medicare Part B

Joint Base Lewis McChord (JBLM) is home to 120,000 military retirees. If you are one of those retirees and you’re eligible for benefits through the VA you might wonder if you could save $1,200 or so a year ($104.90 per month for most people) by not paying for Medicare Part B. After all, for Part…

Why move when you can improve with a reverse mortgage?

By Tamara Sevigny of Kiel Mortgage Eric and Christine are both retired, own their home free and clear and have excellent assets and savings. Even still, there was no lending source that they could find who would secure them a line of credit for a remodel. After hearing about a reverse mortgage they gave a Reverse…

Are you ready to retire?

Are you ready to retire?  Every individual is different and the time to retire for one person is most likely the time for another to buckle down.  I’ve recently read two articles about early retirement.  I’m going to include their links but first I wanted to say two things.  Not everyone wants to retire even…

5 dos and 5 don’ts of financial planning

If you’re in your 50s, retirement is on the horizon.  Here are some important financial planning decisions you need to avoid. Don’t dip into retirement.  With the average employee having seven careers in a lifetime, there’s a possibility that you’ll experience seven or more temptations to cash out an IRA rather than roll it over. …

Steps to take after receiving a large lump sum payment

Winning the lottery doesn’t make the top 10 sources of retirement income, yet it’s often a major part of many people’s retirement plans.  The top ten list by the way goes something like this: Retirement savings accounts Home equity Pension plans Social Security Certificates of Deposit Stocks and mutual funds Retirement jobs Annuities or insurance…

Roth IRAs versus traditional IRAs

The primary difference between Roth IRAs and traditional IRAs is the point at which your investment is taxed.  Contributions to a Roth IRA are not tax-deductible and withdrawals are generally tax-free.  The benefit to Roth IRAs is that there are fewer restrictions and requirements.  For inheritance purposes, passing a traditional IRA to your children means…

Retirement mistakes to avoid

In February, the average retiree received a Social Security retirement check for $1,331.  That check is, as said here, primarily set in stone, except for Cost of Living Increases.  Something that isn’t set in stone is the cost of Medicare, which although it has stayed steady recently could jump from year to year.  Based on…

Preparing for a smaller Social Security check

If you are retiring in 15 to 20 years, you’re probably already aware that projected Social Security shortages are expected to cut those benefits by nearly 25 percent during that same time frame.  This suggests that the U.S. government needs to get on the stick and find a solution to those projected shortages.  One of…

WSJ: Reverse Mortgage Could Help Boost Retirement Income By 30%

by Emily Study Taking out a reverse mortgage could help increase retirees’ annual income by 30% when done in conjunction with a few other retirement planning steps, according to a recent Wall Street Journal article. The strategy comes at a time when retirement fears plague the nation, as reports indicate that few Americans are truly…