A much maligned financial planning tool is the reverse mortgage. And there is good reason why it had a bad reputation. Notice I use the word ‘had’. My position today is there is no reason to simply walk away because of that reputation. It no longer applies. First, a little background. When buying a house …
Continue reading Reverse Mortgages and Retirement – Part One
My Comments: Like so many financial products, annuities come in a variety of forms that have surfaced over the years in attempts to both solve peoples financial problems and to make money for the companies offering them. As you can imagine, the spectrum along which any one of them can be judged is wide, with …
Continue reading The Basic Types of Annuities and How They Work
My Comments: This is #6 in a series of 6 blog posts about Heath Savings Accounts, or HSAs. They are a potential game changer for those of you who qualify in that they have tax advantages and can suplement whatever else you are doing to set aside money for retirement. The writer of the article …
Continue reading 7 Reasons Why You Should Fund A Health Savings Account
My Comments: This is post #5 in a series of 6 posts intended to help you better understand the advantages of HSAs. If your circumstances let you qualify for one, it could be a game changer when it comes to paying your bills in retirement. by Adella Cellini Linecker \ November 30, 2018 A health …
Continue reading Health Savings Account Rules: 6 Little-Known HSA Tips That Will Save You Money
If you think your HSA is only good for covering medical expenses, you're overlooking one of its key benefits. My Comments: This is #4 in a series of 6 blog posts intended to help someone not yet retired, and under Medicare age, make an informed decision about their health insurance. There are restrictions on who …
Continue reading Is an HSA a Good Place for My Retirement Savings?
HSAs can help cut your healthcare costs but there are hundreds of options. Here's how to find one that's best for you My Comments: This is the third of six blog posts about Health Savings Accounts and how for some people they can be used to help pay bills in retirement. And since retirement is …
My Comments: Last Friday I introduced the idea of a Health Savings Account or an HSA. For the rest of this week, I’m going to add to your understanding of this potentially useful financial device and it’s favorable tax consequences. The words that follow here may not apply if you are about to sign up …
It's about as fun as herding cats, but rounding up all your IRAs and 401(k)s into just one or two accounts can really simplify your financial life. My Comments: The IRS says you can have as many retirment accounts as you like. All they care about is getting their share of the money when you …
Continue reading What to Do with All Those Old 401(k)s and IRAs
With all the recent attention from tax changes made by Congress recently, many of us are wondering how it will affect us. Here's something you might find is useful. Just remember I'm not licensed or qualified to give tax advice so this is information only. It comes from an insurance company called Athene. Technically, their …
My Comments: More and more people have Roth IRA accounts. A common question about retirement is whether to draw money from their Roth IRA first or take money from their non-Roth retirement accounts first. It depends. Any money not yet taxed is going to get taxed. Period. The Roth IRA money comes out tax free; …
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