Retirement

The low- or no-interest family loan is one of the best strategies to hedge against the numerous proposed increases in income and estate taxes and to take advantage of today’s low interest rates. A family loan reduces income and estate taxes under the current law but also has flexibility so it can be adapted to

As people age, sometimes they are more willing to overlook what needs fixing at home. Maybe it feels like too much to vet contractors, or get bids. One gentleman in his 80’s comments at AgingParents.com, “I’ll just let my kids take care of it. I’ll probably be gone in five years”. Is that fair? We

The United States is currently experiencing its sharpest growth ever in older adults.  Those over 65 now number approximately 57 million. Medicare statistics show that by 2050, that number will grow to over 80 million and a very large percentage of those will be in the 85+ category. That is the category that requires the most long-term care

Those interested in where the world’s monetary gold is held will want to read New York Federal Gold Vault, which appears on an interesting website called Atlas Obscura (AO). Readers will learn there that a major chunk of the world’s gold, the portion that constitutes the reserves of most of the central banks of the

At what point do you achieve financial independence? Is it when you don’t care whether the market goes up or down? Is it after your last child graduates from college? Is it when you simply don’t care about money anymore? You have your own definition of financial independence for one very good reason: it means

Recent fires, floods, and extreme heat events are demonstrating that climate change is here—now—not some day in the distant future. How could that realization impact your retirement plans? Any concern you might feel about climate change could depend in part on your age. A recent survey conducted by the Society of Actuaries (SOA), titled “Financial

One of the most common questions we receive centers around the decision with what to do with your old 401(k) account. We analyze multiple ways to look at whether to stay or move strategically, but if you decide to move the funds from one firm to another, how do you best proceed? Here is what to know

Companies that have been severely impacted by the pandemic have turned to early retirement offers as a way to reduce their workforce. If your employer has a defined benefit pension plan, your offer may include the option of selecting a monthly pension paid throughout your lifetime or a single lump sum distribution of approximately the

Congratulations! Your child has a job! Now what? How about a Child IRA? Your child won’t be thinking of this, but you should. It doesn’t matter if the work is a full-fledged 1099-producing summer job or just a little gig helping out with the neighbor’s chores. You might not think this is a top priority,

It’s no secret that America’s struggling public pensions are a hot mess. Lack of comprehensive state regulation; the failure of legislative oversight; lay boards lacking investment experience; Wall Street donations to the campaigns of corrupt influential politicians and law enforcement indifference, all contribute to the morass. It seems, on the one hand, no one with

“Simplicity is the first cousin of contentment,” said John Stott. Whether it is a toppling stack of bills to be paid, an ungainly balance sheet to be managed, an overflowing email inbox to be processed, or a packed calendar to be hurried through, complexity rarely leads to a state of contentment. Have you noticed that?

Consider it the rite of American passage. It’s the classic paper route, lemonade stand, babysitting and cutting the neighbors lawn. Any one of these “chores” can earn a child enough money for some fun things… and more. It’s this “and more” part where things begin to get tricky. Perhaps the most lucrative perk for kids

By the time you read this, you might be thinking, “The summer is almost over.” That doesn’t change anything. Believe it or not, it’s not too late to take full advantage of this summer job opportunity. In fact, you probably have until next April to make your final decision. Unfortunately, most times teenagers only think

By Chris Farrell, Next Avenue You probably heard: Meghan McCain is leaving ABC ‘s “The View” after nearly four years. Among her reasons for quitting is that COVID-19 “has changed the world for all of us,” she told The Guardian. “It’s changed the way I’m looking at my life, the way I’m living my life, the

By Kerry Hannon, Next Avenue Time to dispel the myth that midlife and older entrepreneurs (and employees) are set in their ways and baffled by technology. Those shibboleths are far from the reality I found when I checked in with a handful of the 20 entrepreneurs who I interviewed for my 2019 book, “Never Too Old

By Lyle Solomon, Next Avenue As you save for retirement, it’s beneficial to know how much to save and whether you’re on the right track. Everyone’s situation is different, of course, but there are some useful retirement benchmarks that can give you a sense of how you’re doing to reach your goals. After comparing your numbers to the benchmarks,

Today’s column addresses questions about when Social Security spousal benefits can be available, a reason there might be years with no income on a person’s Social Security earnings record and how much benefits are reduced for filing early. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic

Congressional Democrats are expected to include a broad expansion of traditional Medicare benefits— including dental, vision, and hearing—in a $3.5 trillion social spending bill they’ll consider later this year. The move would be the biggest expansion of Medicare since Congress added a drug benefit in 2003 and would go a long way toward improving the

Many people have signed at least one power of attorney in their life. A power of attorney, which names a trusted family member, friend or advisor as your “attorney-in-fact” to control your assets, is meant to be used if you are incapacitated. For instance, if you have been in a car accident or are in

Representative John Garamendi (D-CA) recently introduced a new bill that could change how the Social Security cost-of-living adjustments are calculated. The bill titled “Fair COLA for Seniors Act of 2021” would require the Consumer Price Index for the Elderly (CPI-E) to calculate what could be described as a fair Social Security cost-of-living adjustment for the