Should I Buy An Annuity?
In the financial planning world, annuities can feel like a dirty word. They are an extremely polarizing topic. Some people shout from the mountain tops about their benefits while others say never to buy an annuity. You might hear phrases like, “Annuities have high fees” or “I bought an annuity for the high guaranteed rate.” […]
How Much Cash Should I Have in Retirement?
One of the common questions I receive from people approaching retirement or people in retirement is, “How much cash should I have in retirement?” After many decades of saving and investing, it can be a strange experience going the other way. You’ve been taught to save and save, and now you have to start spending […]
The Negative Effects of Caregiving
Let’s talk about the impact of caregiving – notably, the negative effects of caregiving. I’ll spend a little time talking about the positives of caregiving, but I want to give more attention to the negative effects of caregiving because they often outweigh the good. I’ve experienced it first hand and seen it in other families. […]
Why You Should Review Your Medicare Plan Each Year
It’s that time of year where you should start to receive your Medicare “Plan Annual Notice of Changes” (ANOC). It usually arrives sometime in September and lists changes in your coverage and costs of your current Medicare plan. It’s very important to review! A drug that was covered under the formulary in the prior year […]
Aging In Place – Costs and Factors to Consider
Many people I meet prefer the idea of aging in place. Unfortunately, aging in place is expensive and not possible for everyone. Besides the financial costs, there are costs to renovate a home, technology to implement, and the need to coordinate multiple levels of care instead of having it centrally located. Plus, there are the […]
How to Choose Beneficiaries with Taxes in Mind
Unlike most experiences in life that you can do more than once, you get one opportunity to choose your beneficiaries wisely. Once you die, it’s nearly impossible for your heirs to undo your beneficiary mistakes. Before reading this article, I recommend reading my article about costly beneficiary mistakes to avoid. It will help make sense […]
Do I Need International Stocks?
“Do I need international stocks?” is a common question that is heard after strong returns in US markets. People start asking, “Can I just invest in the S&P 500?” or “Should I only own US stocks?” Depending on the time period and who you are talking to, you will hear very different responses. Some people […]
What is Asset Location and How Can It Reduce Taxes?
While asset allocation often gets the most attention (and for good reason), asset location is less talked about. Let’s change it. Asset location comes into play after you determine your asset allocation. Asset location is a tax strategy. While it may seem complicated at first, once you know the basics, it becomes easier. Let’s dive […]
How to Build a Good Credit Score
Your credit score impacts many parts of your life – interest rates on loans, credit card applications, and more. Unfortunately, how to build a good credit score is often counterintuitive. For example, did you know closing an old account could cause your credit score to drop? Your credit score is a signal to lenders about […]
What is a Credit Freeze?
Did you know that your information, such as your Social Security number, date of birth, and other pieces of information needed to open credit in your name, may be available on the dark web, available for purchase? With data breaches becoming common and the Equifax data breach in 2017 where 147 million people had their […]
