Planning for Retirement
I want to look beyond the financial aspect of retirement planning and instead focus on the day-to-day reality of living life as a retired person. There is no single retirement age, or even specific age when one becomes a “senior citizen.” Discounts at restaurants, movie theaters, and retail chains begin as young as 50. Some […]
Choosing A Retirement Community
Senior citizens face a plethora of choices as to where they want to live once they decide they want out of their family home. But how to make the right choice? View image | gettyimages.com Selecting where to live could be the single most important and difficult decision retirees make, says a story in the […]
Estate Planning Moves For Your 30s
When in your 30s, the last thing on your mind is dying. But it may be the right time to start planning to protect your family and assets. View image | gettyimages.com An article on dailyfinance.com says your 30s may be the most important time to start planning because you may have the most to […]
Can’t Stay Retired?
Some people can’t wait for the day they can retire. Others, though, have no plans to quit working. Or they do retire, then decide they can’t stand it. An article in the New York Times details the stories of several folks of retirement age who “failed” at retirement. One woman started a fitness club after […]
Women Have Different Money Needs
Women are different from men in lots of ways. One is in their financial planning needs. http://gty.im/175179565 An article in Forbes outlines the reasons: women live longer than men, earn less, save less and have different insurance needs. They also are less likely to be prepared for retirement, the story says. To be specific, women […]
Tips To Aid Adult Children
Lots of retirees are interested in assisting their adult children financially these days. The children, now in their 30s, 40s or 50s, may have lost a job, gotten a divorce or have their own children ready to go to college. http://gty.im/159955126 But the parents themselves may find themselves in a precarious position – they don’t […]
Updating Your Listed Beneficiaries
Once you have a comprehensive estate plan in place, it is important to keep it up to date. This is particularly important for the beneficiaries you listed for things like retirement plans, IRAs, life insurance policies, bank accounts, and investment accounts. A recent article outlined the following six reasons for why you should update beneficiaries […]
Retirement Accounts and Estate Plans
Often, people fail to consider how to best handle their retirement accounts when crafting their estate plan. Retirement accounts, however, are typically one of the largest assets in a person’s estate. Therefore, this failure can often prove problematic for beneficiaries. A recent article encourages readers to properly plan for their retirement accounts. Interestingly, many people […]
Tax Issues of Inheriting An IRA
While individuals may be happy to inherit an Individual Retirement Account (“IRA”), confusion may quickly follow. Many who inherit IRA’s are not certain of what to do with them. As a recent article in Forbes points out, there are important tax consequences involved in inheriting an IRA, and therefore important questions that inheritors should ask. […]
