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…

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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…

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5 steps to quash problems over inheritance

Story after story gets written about the rich and famous individuals and their not so rich or famous peers whose adult children and second, third or even fourth spouses argue about what they would want once they become cognitively impaired or die.  Unfortunately, it’s proven time and again that if there is a time when…

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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…

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Why getting Dad to give up the keys hurts Mom

A study out of the University of Missouri found that even if just one member of a senior couple stops driving, both individuals suffer the consequences.  Because driving plays such a significant role in the American identity, the loss of independence can affect the emotional well-being of the non-driving partner.  According to the study, even…

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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…

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