In April of this year, the Department of Labor (DOL) issued its much anticipated final rules that impose, among other things, fiduciary duties on advisors who recommend investments for all retirement plans, including Individual Retirement Accounts (IRAs). When the rule first came out, many in the industry wondered why IRAs were coming under greater scrutiny. It makes perfect sense when you think about how the retirement savings landscape has changed…. Read More
I Don’t Know and I Don’t Care
An attitude of “I don’t know and I don’t care” can be quite distasteful. It is generally a statement made in a tone of voice used in an argument or as a snide remark. However, I believe it has a place in our industry. I would not recommend this attitude toward a person, but it might come in handy when it relates to the day-to-day activities of the stock market…. Read More
Maximizing College Gifts to Grandchildren
You probably don’t need me to tell you that the cost of college can be an enormous burden on a college student and his or her family. Some fortunate students are in the envious position of having grandparents who have enough money to cover their own retirement years and still have something left to help family members pay for college. There are tax advantages for grandparents who help their grandchildren… Read More
Changin’ the Rules
Back in the day, play time was no fun when my older sister would change the rules in the middle of the game we were playing in order to tilt the game in her favor. (I hope she’s not reading this!) Well, it seems that Social Security has also changed the rules in the middle of the game. No longer can one spouse employ the file and suspend strategy while… Read More
Chuck With a Purpose
This was the buzz phrase as we cleaned out our storage area in preparation for our recent office reconfiguration. It was clear that we needed to get rid of (or chuck) some unused or outdated items, but we wanted to be purposeful in how we accomplished that goal. How could we prevent our unwanted items from filling up a landfill? Well, we recycled outdated electronics and old marketing materials, we… Read More
Long Term Care Blog Series: Financing
In the final installment of our long-term care blog series, we are discussing your options when it comes to paying for long-term care. According to JP Morgan’s Guide to Retirement, a woman age 65 has a 73% chance of needing some type of long-term care in her lifetime and a man age 65 has a 35% chance. The average age of a person making a new long-term care claim is… Read More
Long Term Care Blog Series: Housing Options
Deciding where to live can be a challenging process no matter what our age; however, as we reach the latter stages of life, the decision-making process about where to live becomes more complicated. Much of the complexity is related to the rising concern of possibly needing long-term care at some point in the future. This is the third article in our four-part blog series looking at issues related to long-term… Read More
Long Term Care Blog Series: Emotions and Planning
As we continue our long-term care blog series, this article will focus on some of the ways we deal with decisions regarding the potential need for long-term care. While it can be challenging to think about and discuss these issues, let’s take a candid look at the way we respond when we think about long-term care. We might respond with denial and completely avoid the issue. The thinking process might… Read More
Long Term Care Blog Series: What is Long Term Care?
How is long-term care different from the traditional medical care that we receive in a doctor’s office or in a hospital setting? Long-term care could be defined as care provided during the latter stages of life that helps meet both medical and non-medical needs of people who are unable to care for themselves. Although long-term care could be needed by a person of any age, in this four-part blog series… Read More
Pleasure at the Gas Pump – Pain in Your Portfolio
Over the past year and a half, we’ve watched the price per gallon of gas steadily decline. If you’re like me, you may have smiled as you filled up your vehicle recently for less than $2 a gallon. However, over this same period of time, you’ve probably noticed your investment portfolio struggling through unusually high volatility and some sharp declines in value. Let’s take a look at some historical data… Read More
