Happy old couple

“Here is what you need to know about delaying required withdrawals from a retirement account until 2021.” Before the CARES Act, most retirees had to take withdrawals from their IRAs and other retirement accounts every year after age 72. However, the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act, has made […]

Senior woman contemplating

“The official figure for elder financial fraud used by a congressional committee is around $3 billion a year, but that’s based solely on reported cases of fraud. Other estimates are 10 times that much.” Aging baby boomers are a giant target for scammers. A report issued last year from a federal agency, the Consumer Financial […]

Wooden Blocks Spelling 401k

“Lawmakers in Washington are making it easier for Americans struggling with the fallout from the coronavirus to draw on the trillions of dollars in their 401(k)s and other retirement accounts.” For a limited time, Americans will now be able to withdraw money from tax-deferred accounts without penalties, under the Coronavirus Stimulus law. Rules on taking […]

Happy Senior Couple

“Imagine you get married and within a year or two, your new spouse passes away. Now, imagine that your grief is compounded with financial stress.” Without an updated estate plan, a surviving spouse is left with a world of trouble, as described in the article “Protect Your Spouse and Children by Updating Your Estate Plan” […]

Elder Couple with Bills

“While most of us had stockings and menorahs on our minds, President Trump on Dec. 20 signed the Secure Act that makes the most significant changes in retirement accounts we’ve seen in years.” For anyone who has saved a high six or seven-figure balance in their retirement accounts, the SECURE Act will definitely affect their […]

question mark

“Federal law, under the Equal Credit Opportunity Act, forbids discrimination in the mortgage market on the basis of age. Nonetheless, loan officers say older borrowers often don’t realize they can get loans with terms that will expire on their 110th, 120th or nearly 130th birthdays.” A senior loan officer with a mortgage company in Florida […]

Finger Pressing Button on Calculator

“Congress passed an important retirement-savings law called Setting Every Community Up for Retirement Enhancement, or the SECURE Act of 2019.” The most significant legislation affecting retirement was signed into law on Friday, Dec. 20, 2019. After stalling for months, Congress suddenly passed several bills, as attachments to budget appropriations, as reported by Advisor News’ article […]

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“Congratulations! Your retirement planning paid off. You built a $1 million retirement nest egg. How long will $1 million last in retirement?” For most retirees, the goal is simple: don’t run out of money. That’s the worry that plagues most Americans—61% of them, according to a survey from Allianz Life. How do you keep that […]

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“What is the size of the average retirement nest egg? It depends on what you mean by ‘average.’” It’s the question we all wonder about, but not very many of us will come out and ask. A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found that the average balance in […]

Elder Couple with Bills

“When it comes to your money, be careful who you listen to. Taking advice from an uninformed person can cost you dearly.” We call it “the brother-in-law” effect. Most families have a brother-in-law who likes to think he knows everything, and he’s more than happy to share his wealth of knowledge. Trouble is, most of […]