Since the pandemic beginning in 2020, the cost of goods has increased significantly. Older Americans are finding their retirement savings are not going quite as far as they had expected. As older adults consider different ways to supplement their retirement incomes, one consideration is a reverse mortgage. But what is it, and when might it […]
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As the senior population grows, innovative housing solutions are emerging to meet diverse needs and preferences. Among these are co-housing, shared housing, and unconventional senior living communities. While these models offer promising benefits, they also raise unique legal considerations that require careful attention. Co-Housing or Shared Housing: Co-housing and shared housing offer seniors a unique […]
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Retiring and moving to another country has become an increasingly attractive option for seniors seeking adventure, a lower cost of living, or a more temperate climate. However, while the allure of spending one’s golden years in a foreign paradise is undeniable, it is crucial to understand the complex legalities involved in cross-border retirement. This involves […]
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Even though many people think so, retirement accounts are not included in wills. A story in Forbes points out that who gets the money invested in a retirement account such as an IRA depends on who is named on the account’s beneficiary form. Lots of people make mistakes when it comes to retirement accounts. They […]
Read moreWhen the U.S. Supreme Court handed down their ruling last Wednesday, striking section 3 from the Defense of Marriage Act (DOMA) as unconstitutional, the Court radically changed the estate planning laws for many same-sex married couples. Not only are marriages of same-sex couples is now recognized as legal under federal law, but they can now […]
Read moreWhen people do the math to determine what their financial budgetary needs will be they factor in all the usual expenses, as well as change-of-lifestyle expenses (such as a travel budget, for example) but according to this article on CNBC.com, what many people still neglect to factor into their retirement budget is health care expenses. […]
Read moreDo you know how much your 401(k) is costing you? Are you sure? What most people don’t know is that many employees with “free” retirement plans through an employer actually pay a number of hidden fees. According to a recent article in the Huffington Post, “71 percent of plan participants don’t think they pay any […]
Read moreWhen it comes to retirement planning you can find suggestions, rules and guidelines of just about every shade, but it wasn’t until this article in the U.S. News and World Report that we’ve seen the biblical “7 Deadly Sins” applied to retirement planning. The tone of the article is light and tongue-in-cheek, but the advice […]
Read moreHow will you be planning for your retirement? According to CNBC your gender could play a bigger role than you think in your retirement plan. While of course, not everyone will adhere to gross generalizations, studies have interestingly shown that men and women do have a tendency to take a different approach to saving and […]
Read moreEvery parent wants to teach their children fiscal responsibility, but it’s not always easy to impress upon live-for-the-now youngsters the concept of saving for a rainy day. Certainly teaching by example is one tried and true method; another is practice. But can a 15 to 21 year old really practice saving for retirement? Of course […]
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