Retirement

Dying is cheap, living is expensive! The most asked question I receive is, “Should I claim benefits early or wait?” My answer to that question is that every situation is different and there are no rules of thumb to answer that question. The question I would then ask is do you expect to live to

Where we live shapes most every aspect of our lives. Many of us simply grew where we were planted. That is to say, home was where your parents made it, and likely their parents before them. But as travel options expanded and opportunity-rich destinations beckoned, many young people flocked to cities in search of their

Retirees who rely significantly on their IRAs and 401k accounts to pay for their living expenses face a serious challenge: How do they carefully invest and draw down their retirement savings to spend on living expenses, with the goal that they don’t outlive their money and recognizing that they might live a long time? Here’s

Unfortunately, it happens all the time—a person’s longtime spouse dies, a new suitor swoops in, and the person quickly marries against the advice of family, friends, and advisors. What happens next can be a nightmare for the family, resulting in costly legal battles. Even worse, many people in this situation spend their final days without

Can the Consumer Financial Protection Bureau (CFPB), a Federal Government agency, protect unsophisticated consumers transacting in complex markets? It can but it doesn’t. I will illustrate with one of the most complicated financial instruments a consumer is likely to encounter: a HECM reverse mortgage. That HECM borrowers must be 62 or older, which is past

Simplifying and streamlining our portfolios and the rest of our finances should be an estate planning priority as we age. I learned this firsthand when I took over management of my parents’ finances. I was fortunate that my parents were still around and alert when I took over, so they could explain some things, sign

If you have been following my posts on required minimum distributions from retirement accounts over the last few years, I have an important update to share with you. RMDs are mandated IRA distributions that start at a certain age (currently age 73) – or any age for those who inherited IRAs or other tax-deferred retirement

The first big issue for a Medicare beneficiary is whether to enroll in original Medicare or a Medicare Advantage plan. The decision can be reviewed each year during the open enrollment period, which runs from October 15 through December 7. A major difference between original Medicare and Medicare Advantage is most Advantage plans require prior

Living, buying property, doing business, and investing overseas come with challenges, including some you might not expect. Chief among the roadblocks you might not be prepared for is corruption. Transparency International produces an annual index. On it, Canada, the United States, Australia, New Zealand, the U.K., Japan, most of Europe, and Uruguay rank as among

There is a persistent myth that healthcare is magically free after you’ve retired, partly thanks to Medicare. Ask any retiree with a health condition, and I assure you they will tell you medical care is not free. The estimated healthcare expenses in retirement may cause you to worry about running out of money. Hopefully, those