For many people, the holidays are a time to finally be together in person, post pandemic. Travel is up and for those who live at a distance from aging loved ones, it may be the first opportunity in awhile to see your elders face to face. It can be very revealing. Assisted living facilities and
Retirement
In an effort to inspire clients and prospective clients to action in the realm of financial planning, we see an endless stream of commercials featuring exotic golf courses, beaches, sailboats, and marine mammals. Words like “hopes,” “dreams,” and “passions,” are often invoked. And for the smaller subset of people in this world who regularly use
I ntroduction The gift, estate and generation skipping transfer (“GST”) tax exemption will increase substantially in 2023. What does that mean for your estate planning? Keep on Planning The current estate tax planning circumstances provide continued opportunity to plan. In part that is because most estate planning techniques in your advisor’s toolkit remain viable. For
The collapse of the cryptocurrency exchange FTX sent ripples through the trading markets. And more. It’s a story that involves politicians, celebrities and, quite possibly, geopolitical intrigue. As investigations are ongoing, the truth won’t be known for some time. “FTX shut down its operations after it was revealed that the company was engaged in fraudulent
Senate Finance Committee Chair Ron Wyden (D-Ore.) expects the SECURE Act 2.0 retirement bill to pass out of Congress to the president’s desk before January. The bill could have up to 70 provisions and many will not have much impact on America’s retirement crisis. Many will make U.S. retirement wealth inequality worse. On the positive
About 60% of the homeowners reaching 62 today have outstanding mortgage balances, and most of them have limited financial assets. Such retirees, concerned (as most are) with having enough spendable funds during their retirement years, should take out a HECM reverse mortgage. This holds whether the HECM is used to pay off the existing mortgage
Congratulations, you’ve made the decision to start your own business. Well, maybe “business” sounds a little too formal. Perhaps it’s only a small retirement side hustle. This, in itself, can benefit you in more ways than you think. “Beyond financial rewards, there is a psychological benefit to having a venture to focus energy on,” says
What will last Tuesday’s election mean for older adults and their families? The slim Democratic majority in the Senate combined with what is likely to be narrow Republican control of the House likely means no new legislative initiatives will pass Congress in 2023. The Biden Administration’s ambitious plan to support frail older adults and their
The relentless pace of the Federal Reserve’s rate hikes are coming against a backdrop of large numbers of older adults struggling economically and taking on debt to make ends meet. Even before the pandemic, debt was growing among older households. And the pandemic hit older adults especially hard. They experienced outsized health and employment impacts
We’re in the middle of the Medicare Open Enrollment Period. Turn on the television and what are you likely to see? A commercial, and then another one, all for Medicare Advantage plans. These commercials, hosted by celebrities and former football players, tout the benefits of this coverage. Commercials, as well as mailings and websites, preach