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3 Quick Personal Finance Tips to Kick off 2019
When it comes to personal finances, it’s easy to put them in the too-hard basket and forget about them. The thing is, like living a healthier lifestyle by moving more, taking care of your personal finances leads to a healthier financial way of life (like having greater peace of mind and the freedom to do what you love). And the beginning of the year is the perfect time to get a fresh start on your financial health... Vicki and James will retire from their jobs in the next 5-7 years. They want to fix their finances and understand how they [...]
Should You Roll over Your 401(k) When You Retire?
Do you wonder if you should rollover your 401(k)? After all, your last day at work is coming up. You’re dreaming about your new freedoms — like meeting friends for coffee on a Monday ... in your running gear. Over the years, you’ve invested in your 401(k) with the added benefit of your company’s matching contributions. Now, with that final check just around the corner, it’s time to make some decisions about your 401(k) plan... Roll over your 401(k) and make a clean break from work Along with clearing out your desk and grabbing the plant, this might be a [...]
How to Talk to Your Adult Children About a Life Insurance Policy Transfer
A life insurance policy transfer to your adult children can help sustain your investment should your financial situation change... Twenty years ago, Donna bought a life insurance policy. When she chose the plan, she predicted as best she could the premium she’d be able to afford. But in recent years, financial challenges have made it difficult for her to pay her life insurance premium. And it’s due again soon. She is close to her son, Joshua. He’s married with two young children. Donna is comfortable transferring policy ownership to him, but she worries about burdening him with the premium [...]
Long-term Care Insurance: Do You Need IT?
William and his son, Jack, listen as the doctor explains the long-term care William will now need. Jack can cook for his dad, but William will need help with everyday tasks, such as dressing and bathing. And that means hiring care providers to come to William's home. Thankfully, his long-term care insurance will help with this new expense. When it comes to long-term care insurance (LTCI), many people delay buying it or figure they can get by without it. Plus, from premium costs to benefits, there are a lot of variables of consider. So, here are some important points to help you decide if [...]
5 Advantages to Annuities: Optimizing your Retirement Finances
Annuities offer some considerable benefits over other kinds of retirement investments, especially for those not able or willing to risk losing a portion of their retirement savings. Here’s the big advantages to going the annuity route: Lifetime Income – With an immediate lifetime annuity contract, you are guaranteed periodic payments for as long as you live. The “risk” of you living a long and happy life is borne by the insurance company providing the annuity. Social Security and pensions offer a similar form of retirement income protection – but only up to a certain amount. The only limit to the [...]
What Should Seniors Know About Medicare Reform?
Medicare and Medicaid reform makes headlines on a daily basis. The past decade has seen major changes to Medicare and Medicaid, and if the proposed GOP healthcare bill is passed, more changes are yet to come. What should seniors know about Medicare reform? What’s Getting Cut? First of all, understand that Medicaid is the primary target of all funding cuts, not Medicare. The current proposed healthcare bill, the American Health Care Act, is designed to reverse the Medicaid expansion ratified under the Affordable Care Act, reducing Medicaid spending by about $800 billion over the next decade. How Will It Affect [...]
Top 5 Facts to Know for Seniors Considering a Reverse Mortgage
The reverse mortgage is a useful tool that can successfully support seniors during their retirement years – it’s a way to use your biggest asset, your home, for consistent income over the course of decades. While reverse mortgages have supported hundreds of thousands of seniors’ retirement budgets, they don’t come without a certain level of risk and it’s not “free money,” as many lenders would like you to believe. It’s important to know how a reverse mortgage works and whether or not it’s right for you before you start discussions with a lender. What Is a Reverse Mortgage? A reverse [...]
Financial Advice for Seniors: 6 Tips for Long-Lasting Security
Managing money in retirement isn’t always the easiest task. From portfolio inquiries to budget predictions, reliable financial advice for seniors can help answer your questions and make funds last, providing a sense of security throughout the later years of your life. […]
Life Insurance for Seniors: Do You Need It?
Throughout your adult life, you’ve made your life insurance payments each month gladly. It was a small price to pay for the knowledge that your family would be completely taken care of in the event of your untimely death. […]
College Savings for Your Grandchild: What’s the Best Option?
There is no denying it: college is quite expensive these days. If your grandchild is still a baby or toddler, imagine how much costlier it will be for them to complete a degree almost two decades from now. […]
