10 Social Security Mistakes That Can Devastate Retirement Income
Social Security, even with all its problems, is unquestionably an important component of retirement income for millions of Americans. For about half of seniors, Social Security is 50% of their income, and 1 in 4 seniors say it makes up at least 90% of their income. There are more parts to Social Security than most people realize. Only in [...]
4 Dangerous Estate Planning Myths (VIDEO)
Estate planning is essential, but there are four myths that can defeat your intent.
Calculate Early Social Security (VIDEO)
Taking Social Security before full retirement age reduces your benefit permanently. Here's how to calculate how much you'll get.
5 Critical Checks for Your Power of Attorney
How many times have you seen articles reminding you how important it is to have a power of attorney (POA) document in place just in case something happens and you can’t care for yourself or make your own decisions. Absolutely, you need a POA. But make sure it’s structured correctly. The attorney who drafts your POA most likely uses [...]
Don’t Exclude Your House from Retirement Planning
Planning for retirement includes a cornucopia of facts, details and speculation—when do you want to retire, how much will it cost for the lifestyle you want, how long do you think you’ll live—all important considerations. The money can come from a long list of possibilities—a 401(k), IRAs, non-retirement investments, and Social Security. Oddly enough, one of the biggest assets [...]
Choosing the Right Trustee: A Guide
So, you’ve decided a Trust is the best way to protect your legacy. Congratulations! You’ve done the hard work of deciding what goes where. Now comes the part that feels a bit like casting a lead role in a high-stakes Broadway show: Choosing the Trustee. This person (or institution) will hold the keys to the kingdom. They aren't just [...]
The Catastrophe of Having the Wrong Beneficiary
Do you want your ex-spouse to get your money when you die? Or how about someone that’s fallen out of your good graces? No matter what your will says, the name(s) on the beneficiary form you signed is written in stone. And if you forgot to name a new beneficiary after a change in family status, somebody is just plain [...]
Inherited Health Savings Accounts—Not a Beneficiary’s Best Friend
The Health Savings Account has been a wonderful addition to the financial landscape of people who are eligible for one. They’re often thought of as a way to pay for qualified medical expenses with pre-tax money during your working years for things like deductibles, copays and non-covered items—in other words, things not covered by insurance. The rules change a [...]
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