4 must-knows before claiming Social Security

My Comments: Assuming you qualify for benefits, the day/month when you file your claim becomes locked in for the rest of your life. You need to choose it wisely. Among the four must-knows referenced in the title is the term FRA. That stands for your Full Retirement Age. It’s the point in time when you …

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On Eve of Retirement, Savings for Medical Costs Can Fall Short

My Comments: While this was written five years ago, the message is increasingly relevant. Despite Medicare for those of us over age 65, it’s recognized that medical care in this country is far more expensive, all things being equal, than it is in the rest of the world. Couple that with increasing longevity and chances …

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Is This Financial Tool the Best Idea Since Sliced Bread?

One of the best analogies I’ve seen used to describe what follows here is that it’s sometimes called the “Swiss Army Knife of Retirement Planning”. This resonates with me as I’ve had a real Swiss Army Knife for dozens of years. It has multiple uses which is why it’s often in my pocket. What follows …

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Adding Annuities to a Diversified Investment Portfolio

My Comments: The following about annuities was written by Joseph M. Maas, a financial professional located in Seattle, WA. He has multiple credentials attesting to his financial expertise and is associated with an SEC Registered Investment Advisory firm. His title to the white paper he's written differs slightly from mine. As someone who has attempted …

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What Is a Mega Backdoor Roth?

My Comments: I truly wish I’d opened a Roth IRA years ago and properly funded it. No, I don’t enjoy paying income taxes though I fully understand the need for them. My biggest gripe is wealthy people and corporate elites avoiding paying income taxes at all. That said, if you’re planning to retire at some …

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Thanks to Kobach, Trump and conservative think tank, we know extent of voter fraud

My Comments: My mind tends to wander into oblivion when I read about Republican claims of widespread voter fraud. Then it gets upset when I read about state legislators across these United States taking pains to increase the difficulty normal citizens must overcome to cast legitimate ballots in elections. Despite widespread calls for factual and …

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7 Greatest Financial Regrets of Older Americans & How to Avoid Them

My Comments: I may be preaching to the choir here, but if you’re not yet ready to retire, or have years to go before you are, these thoughts may be very relevant for you. For many of us, retirement at some point in the future is a reasonable expectation, but since it’s in the future, …

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Market Predictions For The Week Of May 17

My Comments: Please understand the following article comes from an established financial professional with a far better understanding of markets than mine. He also offers 5 specific positions that he thinks will outperform going forward that I've NOT included here. If you want to know what they are, I leave it to you to visit …

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What You Need To Know In 2021 About The Roth IRA

My Comments: Ignore this financial planning device at your peril. Years before my retirement days arrived, I wrongly assumed my taxes during retirement would be relatively insignificant. Unless you have virtually no income, your income taxes will be a drain on your ability to maintain your lifestyle. If I had to do it over again, …

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Should I Take My Investment Gains Off the Table?

My Comments: The following thoughts from Tim Maurer resonate with me, both personally, as I am more or less retired, and because from time to time over the years, I’ve had similar conversations with clients. There’s no easy answer. As I’m also my own client now, what steps should I take to preserve my assets? …

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