Getting ready for retirement financially is a lifelong balancing act between having an enjoyable current lifestyle and preparing to maintain a comfortable lifestyle over a long, uncertain future.
Mental health challenges such as anxiety, depression and bipolar disorder can make it difficult to perform daily tasks and maintain healthy relationships.
In my words, this is a convergence of the disciplines of financial planning, life planning, coaching, behavioral finance and financial therapy.
However large or small of an inheritance you receive, proceed with caution.
Money management is different in that we tend to be drawn to others that complement our natural approach.
Regardless of your participation or success with “Dry January,” “Frugal February” is a chance to focus on your financial health.
Often, policies will come with additional types of coverage. Some are standard in a policy, and others cost extra.
Perpetrators of elder theft are often people known and trusted by older adults.
In addition to annual tax planning, one concept to consider is looking at lifetime tax implications and trying to achieve lifetime tax smoothing.
One thing I try to remember is that there are things within our control and others that are beyond our control.
Probate is the process by which debts are paid and assets are divided after a person passes away. The probate process can apply whether or not the deceased left a will.
While having sufficient resources to last for your lifetime is important to your quality of life, a bigger question is, “What’s your purpose?”
From the Silent Generation to the GenZers, every demographic group is facing challenges to comfortable retirements.
While seniors can’t directly affect the inflation rate, there are ways to minimize the shadow it casts over their retirement.
One advantage of using a QCD to make a charitable contribution is that the money comes out of the IRA tax-free.
If you are spending more than you earn, your financial situation will deteriorate. Increasing your level of savings will provide future choices.
I wish I could predict the future, but even though my crystal ball has been in the shop several times, it still remains cloudy.
When you’ve been hit by Cupid’s arrow, you need to make sure your finances come out intact even if your heart doesn’t. The financial stakes are generally higher for individuals over 50.
It is well documented that health issues, problems with money, and poor mental health influence one another.
Year-end 2021 tax- and estate-planning efforts are being influenced by proposed tax law changes, the lingering pandemic, the threat of inflation and general economic uncertainty
