Reporting to Protect Seniors From Financial Abuse July 5th, 2016 marked the passing of The Senior Safe Act of 2016. What this bill means to you, and the financial services industry, is another layer of protection for seniors who may be, or are, at risk of financial abuse by...
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Do You Need Long-Term Care Insurance? As Baby Boomers age, one of the planning decisions that needs to be made is how to go about providing for their long-term care needs. The cost of a one-year stay in a nursing home varies widely across the country. According to insurer...
Retirement is a time of excitement and anxiety regarding if your savings will last through your entire remaining life. Many retirees find that their spending is more costly in the beginning, and slows as they age. If you are sure you’ll be cutting back as you age, you can...
Mental Accounting: Help or Hindrance? Mental Accounting attempts to describe the process where people code, categorize, and evaluate economic outcomes for their money. This term was developed by psychologist Richard Thaler in the late1980s when he discovered that people may have multiple mental accounts for various things, but all...
What To Do With Your Inheritance Doing your homework and seeking advice is highly recommended when an individual or family is faced with what to do with an inheritance. Understanding your options is crucial in a potential life changing event. Inheritance Depending on the stage of life you are in...
In recent years many large employers have offered former employees who are not yet at retirement age the option to take a pension buyout. These offers usually offer several options Take the value of your pension as a lump-sum payment which can be rolled over to an IRA. The...
What the New Fiduciary Rules Mean for You In early April the Department of Labor released the final version of their fiduciary rules. These rules apply to financial advisors who provide advice on retirement accounts such as an IRA or a 401(k). The rules state that the advisor must...
What Impact Does Working Have on My Social Security Benefits? There is a lot of confusion about the impact of working on those who are taking their Social Security benefits. Here are a few things to know. · If you are drawing a benefit and you are younger than...
Investment scams aren’t something new; unfortunately they have been around for hundreds of years. What is new is the way that scammers try to get to you with more complex offerings. Be aware of these common scams: Private Event with ‘Free Lunch’- These are an invitation only event, where...