No financial planning topic is more susceptible to false rumors and misconceptions than the infamous credit score. The term “credit” means debt that has been extended by a creditor (lender) to a consumer, with the promise and expectation that the consumer will pay it back in a pre-determined timeframe, usually (but not always) with interest. [Learn more…]
What is umbrella liability insurance and why might you need it?
I have a confession to make: When I was 17, I took the family car one day to visit a friend who lived across town. I was a relatively new driver, having received my driver’s license – or maybe it was just a learner’s permit– only a few months prior. As I rounded a 30 [Learn more…]
Retirement can be a Scary Proposition – Part 2
Investment risk and its potentially negative consequences can be a scary proposition for retirees, who might find it difficult to recover from a significant market downturn. By restructuring your portfolio to include more predictable retirement income, you can greatly increase the probability that your retirement assets will sustain you through retirement. To increase income predictability, [Learn more…]
New Rules for Claiming Social Security Benefits
New rules eliminate the ability of spouses who do not reach 62 by January 1, 2016 to file for spousal benefits while letting their own retirement benefits grow. April 29, 2016 is the deadline to reach age 66 and “File and Suspend” in order to let your retirement benefits grow while your spouse takes spousal [Learn more…]
Retirement Can Be Scary, But It Needn’t Be
Why is retirement so scary? If someone identifies closely with their job, and has no outside interests, leaving work can be frightening.
Choosing the Right College
Congratulations! You are about to launch your student into his or her first year of college. One down, perhaps one (or more) to go. Hopefully, your child will cherish their time at the college of their choice. Or will they? According to Todd Weaver of Strategies For College, Inc., a nationally recognized college planning firm, [Learn more…]
Assessing Long-Term Care Insurance
In case you missed the May 1, 2015 Wall Street Journal article on long-term care insurance (Long-term Care Insurance: Is it Worth it?, by Leslie Scism), it was an exposé of sorts on the declining allure and questionable value of long-term care insurance. The main points of the article were: LTC insurance carriers have significantly [Learn more…]