As we eventually emerge from the Covid19 pandemic crisis, dozens of formerly valid ideas are going to be questioned. My area of expertise is retirement planning and it's ripe with things to be questioned, looked at and discussed. Two things come to mind before I identify 3 possible ideas to become focused on. The first …
Category: Retirement Planning
Ideas to help preserve and grow your money
Spending in Retirement – Part Two
This comes on the heels of Spending in Retirement - Part One where I repeated ideas from Sarah Smith where she identified 10 things where you’re likely to spend MORE money after you retire. Here I'm sharing ideas from Suze Orman that appeared in a recent copy of the magazine sent out every month by …
ROTH IRAs and Why They Make Sense
My Comments: They’ve been around for some time now, but because they cause you to use after-tax money, there’s always been a cloud around them. That’s a shame since they make sense when it comes to tactically allocating your retirement income among different sources and types of accounts. That retirement, assuming you live a normal …
8 Things to Know About Trusts
My Comments: First, a disclaimer saying that I’m NOT an attorney. Do NOT rely on what you read here without first talking with your attorney. Having said that, you will find this useful if you’ve ever wanted to speak from the grave or at least make sure that if you become goofy, your wishes will …
Spending In Retirement – Part One
My Comments: Having more money is almost always a good thing. Having enough money is a function of your core expenses (food, shelter, transportation, healthcare, utilities, etc.) compared with discretionary expenses. Things like travel, entertainment, nice cards vs OK cars, etc. You’ve spent the last several years of your life establishing a lifestyle and odds …
Should You Always Sign Up for Medicare Part B at 65?
First, everyone should understand that Medicare Part A covers inpatient hospital and skilled nursing care. Medicare Part B covers all outpatient needs, doctors services such as office visits and surgery, MRIs, chemotherapy and the list goes on. Second, to qualify for Medicare at all, one must work and pay taxes for 10 years or 40 …
Continue reading Should You Always Sign Up for Medicare Part B at 65?
How America’s Retirement Dream Became a Nightmare
My Comments: There is a fundamental generational change taking place in America today. It will have significant ramifications politically and economically. When I grew up years ago, it was a given that I would go to college, get married, and enjoy a life that would equal or exceed that of my parents. As it evolved, …
Continue reading How America’s Retirement Dream Became a Nightmare
4 Reasons People Succeed at Retirement
My Comments: How do you define 'retirement success'? I can tell you without reservation that it’s purely subjective and personal. My success could easily be someone else’s failure, and vice versa. My time these days is teaching others a step-by-step process to get them ready for retirement. Which leads to wondering what is meant by …
An Overview of Roth IRAs for 2020
My Comments: The recently enacted SECURE Act did not fundamentally change the set of rules about accumulating money for retirement. But it did change the landscape for many people. For years, the Roth IRA has seemed like an exotic step-child in the financial planning world. I think this happened because contributions to Roth IRAs generally …
Problems Created by The SECURE Act
The SECURE Act, signed into law last December, brings important benefits for Americans, both retired and not yet retired. The Act will influence how you save money for retirement and how you withdraw money from retirement accounts in the future. It also includes rule changes that will cause distress for some. Given that none of …
Helping Define Your Financial Future 