Reverse Mortgages for Seniors
November 11, 2009
If you or your parents have lived in your home for many years and have built up a lot of equity in the property you may have heard about or considered a reverse mortgage as a potential source of income during retirement. There seems to be a wide divide in opinions on whether reverse [...]
Life is Short: Save & Spend Wisely for Those Left Behind
September 17, 2009
Do you ever ask yourself why you’re being such a stickler with your money? We save and invest money for “the future” but how do we know when that future we’ve been preparing for becomes the present?
My Grandmother’s Apartment
My kids and I paid an evening visit to my grandmother this week, just so they could spend a [...]
Roth IRA Conversion Tips
September 16, 2009
The Roth IRA conversion rules are changing in 2010, here are a few things to consider if you’ve been thinking about converting your traditional IRA to a Roth IRA.
Roth IRA Conversion Limits
The current IRS rules only allow you to convert your traditional IRA to a Roth IRA if your modified adjusted gross income is $100,000 [...]
Four New Retirement Saving & Planning Tools?
September 5, 2009
Retirement planning can be daunting. You make a lot of assumptions about where you’ll be financially decades down the road. You assume that the tax laws won’t do anything crazy and that the financial markets will continue to operate as they have for decades. You also debate whether Social Security funds are going to shrivel up [...]
IRA vs Roth IRA
April 22, 2009
Traditional IRA or a Roth IRA, which should you open? This is a common question that comes up with many people looking to open an individual retirement account (IRA). I’ll try to make this as concise as possible, and let you decide for yourself which IRA is best for you.
Traditional IRA
Definition: A traditional IRA [...]
Do Married Couples Need to Buy Life Insurance?
September 7, 2008
Death. No one wants to think about, especially a newly married couple. However, thinking about the worse case scenario is an essential trait for maintaining a sound financial plan. There’s no scenario worse than the death of you or your spouse, and that is why you need to prepare for it.
When Should [...]
A Socially Responsible Reply to Avoiding Social Security
November 16, 2007
A reader sent the following response to yesterday’s post on avoiding Social Security payments. I asked them for permission to share it because the email reminded me that Social Security is a safety net for many people and asks some interesting questions about keeping the Social Security program viable:
Reader Response:
Why would your wife forfeit her Social Security [...]
How to Avoid Paying Into Social Security
November 15, 2007
What? Is that possible, to avoid Social Security payments? Well, like most things in personal finance the answer is that it depends.
My wife didn’t pay one cent into Social Security for the last seven years of working, better yet, it was all legal and above board. As a state employee, she still contributed to a mandatory state [...]
Retirement: It’s Like Being 18 Only With Money
September 5, 2007
Would that headline catch your eye on a piece of mail? It’s a pleasant thought to be 18, footloose and fancy free again. No big projects at work, no mortgage to worry about, and no sense of responsibility keeping you awake at night. Plus to top it off you’re not even broke!
Back to RealityAs I [...]
Retirement Advice from Corporate Executives
August 30, 2007
If a wealthy retired corporate executive gave you retirement advice would be thankful or feel like they were rubbing your nose it in?
Executive PrivilegeOur most recent company newsletter featured several former corporate executives that have retired from the business to pursue their life’s ambitions. I had mixed feelings as I read the article in my [...]
