How do you picture an entrepreneur? In a recent survey by Cox Business, small business owners listed their top three entrepreneurial idols as Steve Jobs, Ben Franklin and Walt Disney DIS . But another part of that survey may be more revealing. Roughly two-thirds of the respondents said the desire to be their own boss
Retirement
For many retirees, the ideal arrangement would be to spend their last dollar on the day they die. This is not feasible, of course, because they seldom know when they will die, or exactly how long their money will last. The retiree who is determined to remain solvent to the end will very likely die
Medicare beneficiaries are accustomed to paying more for their prescription medications. According to Kaiser Family Foundation, just about half of all drugs covered under Medicare Part D, prescription drug coverage, and Medicare Part B, medical insurance, had price increases greater than inflation between July 2019 and July 2020. Diabetic beneficiaries have been hit even harder.
Let’s face it, some elders are not just stubborn, they’re flat out dangerous to themselves. They insist on independence. They refuse when you offer to step in and help. They think they are fine when everyone around them can see they’re not. And the aging parents who live alone, have poor balance, falls, and still
When Congress returns for a short post-election session, one item on its to-do list is major retirement savings legislation that has broad bipartisan support. One feature of both House and Senate bills: Expanding a deferred annuity called a Qualified Longevity Annuity Contract (QLAC). Both bills would increase the allowable size of QLACs. That might make
We’ve all heard the problems with relying on numbers: garbage in, garbage out; liars figure, and figures lie; 87.2% of statistics are made up; and so forth. Yet some individuals do their retirement income planning by answering some questions in an online calculator, reviewing the results, and checking the box that their retirement planning is
Trusts are a vital part of the wealth planning process. A trust can facilitate the efficient transfer of wealth from one generation to the next, as well as enable a family to reduce estate taxes, avoid the probate process and meet philanthropic goals. The most effective trust relationships start with a clear understanding of the
The concept of “quiet quitting” started on social media, namely TikTok, leading to misleading and deceptive conclusions that American workers are shirking their duties and slowing down work. Employers fearing the hard truth that workers have some control over their labor effort has been a staple in Marxist economics, see Harvard professor Stephen Marglin’s essay
It’s the question everyone wants answered: is this market correction the same as the ones we’ve seen in the past, or is it worse this time? There’s a tendency to believe that anytime the market corrects or there’s a bear market, that it’s going to be different this time. Here’s what I think: the reasons
The Social Security Administration (SSA) has finally given its recipients an 8.7% raise after four decades, and record high inflation. Retirees will see their monthly payments increase by $146 to an estimated average of $1,827 for 2023. When you consider the average annual SSA income received by African American men 65 years and older was