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Retirement at age 65 may become a thing of the past. The participation rate in the workforce in people of retirement age has gone to more than 20% for the first time in 57 years, according to Crain’s New York Business in “America’s elderly are twice as likely to work now than in 1985“. As […]
Seek out an estate planning attorney with knowledge of special needs planning. If you do not have good guidance, it is possible that leaving assets to a disabled family member will cause them to lose their benefits, according to The Ledger in “Crafting an estate plan to include disabled family members“. Supplemental Security Income (SSI) […]
When everyone is comfortable, it is time to move forward with discussion. The key to learning about the financial plans of your parents is to ask for advice on your plans and then ask about their plans, according to “Ask your folks about their financial plans“. Start by explaining your own plan, how you’ve decided […]
There are benefits to being self-employed. However, saving easily for retirement hasn’t been one of them. Without an automatic withdrawal from a regular income payment, it’s tough for the self employed to save toward retirement. However, there is an option, according to Next Avenue in “A Retirement Plan for the Self-Employed: The Single 401(k)“. Known […]
Don’t procrastinate on some of the larger issues in life. It is often easy to become wrapped up in the day-to-day issues of everyday life. However, it is important to note that if you don’t plan on what will become of your assets, then the laws of your state of residence will step in and […]
Whether you want to keep it, depends on the kind of insurance. People obtain life insurance at a time in their lives when they need protection. However, what happens when the nest becomes empty and you are financially secure? The question is tackled by the Milford Beacon in “Should you keep your life insurance?“. For […]
The IRS and those holding your school loans can take aim at your benefits. You have worked your whole working life for Social Security in your retirement and it is relatively safe from creditors, with a few exceptions, according to Yahoo! Finance in “Can Creditors Come After Your Social Security Benefits“. Personal loan payments, credit […]
You don’t want to be struck down with an illness and have your preferences unknown. Even if you are single, you don’t want to be left with your health care in question should you become suddenly ill, according to Morningstar in “2 Estate-Planning Tools That Singles Should Consider“. How do you prepare for such an […]
Shortcutting the process can save money now. However, it will be costly later and cause problems for heirs. Trying to work around estate planning with limited knowledge can often create more problems than it solves, according to My San Antonio in the article “Estate planning workaround idea needs work“. The article concerns a rancher who […]
Tom has health care issues and Louise can no longer care for him. Tom and Louise have been married for half a century and live in the same home they bought when first married. They are worried about possible nursing home costs and should be, according to the Pittsburgh Post-Gazette in “Married and concerned about […]
