Mutual Funds

Today’s Social Security column addresses questions about whether a new application is necessary to receive retirement benefits after taking spousal benefits, taking early survivor’s benefits before retirement benefits and when Social Security considers you to be 70. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security

There was a time when I thought the optimal goal of financial planning was to collect vast amounts of information, boil all of that information down to an extensive list of assumptions and finely-tuned projections, and then to “click a button” and calculate precisely what a client should do based on those assumptions.  I thought

“Since my husband’s death—now a year ago—I have been a bit at sea financially (as well as emotionally). When his estate is finally settled, I will need to make decisions about a host of topics. Investment advice is not what I need, but an objective financial advisor that I could pay by the hour to work

Annuity laddering involves staggering the purchase of annuities over a period of time. A laddered annuity differs from a deferred annuity, which involves a single purchase but with payments deferred for some period selected by the purchaser. Both the laddered and deferred annuities considered here have fixed payments – variable annuities are a completely different

If the current state of politics and other woes in the U.S. have you looking thoughtfully at alternative places to live, this post is for you! Every January International Living posts their “Annual Global Retirement Index” for the year ahead. I like to hop on that and spread the word, so for the third year in a

Let me suggest two excellent money moves. You’ll enjoy tax deferral — inside buildup in which the asset-income you earn on your balances accumulate tax-free. You also get to time your IRA withdrawals to years when your marginal tax bracket is low. Like many, if not most, Americans, you probably are holding much of your

Your friend or family member has named you as trustee of their trust. What do you do next?  Some people who serve as trustees do what they think they are supposed to do – without a true understanding of the role – or worse, whatever they want to do. In reality, accepting the role of

The Chicago Teachers Pension Fund says it hired BDO USA, LLP to conduct a so-called forensic audit. While the pension claims to “operate transparently,” in response to an Illinois FOIA request it produced a redacted copy of the contract with BDO which failed to disclose critical information regarding the cost and scope of the forensic

Searching for RMD Tables Online? If you do an online search for the new RMD (Required Minimum Distribution) tables to use to calculate your 2022 RMD, you might find yourself running in circles. Where, just where, are those 2022 tables? The online searches I tried today take you to the old tables, even if you specifically search

A rate lock is a commitment by a mortgage lender to lend a stated amount to a specified borrower posting a specified property as collateral, at a stipulated interest rate and points. An important proviso is that the loan must be closed within a specified “lock period”, which is usually 15 to 60 days. The

Based on rumblings at the Federal Reserve, the likelihood of a mortgage price spike in the near future is high. A price spike will make a mortgage costlier for all borrowers who are not locked, and unaffordable for some. This article is about locking a price before the spike hits. Distinguishing The Types of Mortgage

You might want to lock in life insurance premiums now, before they increase. You’ve probably seen the data showing that life expectancy in the U.S. has been declining. The decline first was detected before the pandemic, due to the opioid epidemic and some other factors. The Covid-19 pandemic caused a further decrease in life expectancy.

There’s been a lot of talk about whether the backdoor Roth IRA and mega back door Roth conversions will be eliminated. However, this isn’t the only reason to convert money to Roth. The most common reason is to pay taxes on pre-tax money now so the money can grow to be eventually tax-free. Let’s take

Today’s Social Security column addresses questions about how high benefit rates can possibly be, whether there’s a Social Security benefit increase for caring for a disabled spouse and the accuracy of Social Security’s benefit estimates. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc.

Who’s Minding the Store? We’re seeing it more and more now at AgingParents.com: elders as landlords who can’t do the management job any longer. Sometimes it’s the adult children who bring the issue to our attention. They see Dad failing maintain those rental houses he has had for decades. If tenants complain, he does not

As financial advisors, we like to think of financial planning as a series of discrete practices woven together—like budgeting, investment planning, insurance planning, retirement planning, estate planning, education planning, etc. But I don’t think that’s how non-advisors, and our clients, really see it. Consider for a moment: What are the typical triggers for someone reaching

By Richard Eisenberg, Next Avenue Whether 2022 is the year you’ve resolved to manage your money better or you have an adult child or grandchild you’d like to learn some personal finance basics, have I got some books for you! Actually, they’re 13 money book recommendations from my “Friends Talk Money” podcast co-hosts Pam Krueger, Terry

“Last year I moved a small amount of my 401(k) into the Vanguard Inflation Protected Securities fund. Turned out to be a good move for the 5.7% I earned in 2021. Not such good news for the small amount I still have in Fidelity’s U.S. Bond Index, which lost 1.8% last year. I am thinking of

On December 14, 2021, the Bureau of Labor Statistics (BLS), released data about a significant increase in the Producer Price Index (PPI), the largest increase since the data was first calculated in November of 2010. For the 12 months ending November 2021, the PPI was up 9.6%. PPI is important because it measures the average

By Nancy Collamer, Next Avenue Last year, my husband Joel, then 65, retired from a 30+ year career as an IT consultant. Initially, he reveled in his newfound freedom. But over time, the leisurely life lost its luster and Joel seemed a little lost himself. Now as a retirement coach, I wasn’t alarmed by Joel’s growing restlessness.

By Andy Levine, Next Avenue By some estimates, up to 60% of new restaurants fail in the first year. Those statistics didn’t escape Nasim Alikhani, now 62, who says she knew opening a restaurant was “the dumbest investment you can ever do in your life.” Despite that, she did it anyway, opening Sofreh, a Persian restaurant

You might need to take a little extra time in 2022 to plan your required minimum distributions (RMDs) from IRAs, 401(k)s, and other qualified retirement plans. A few of the rules have changed. Changes affect both original owners of accounts and beneficiaries who inherited them. The starting age for RMDs of account owners was changed

Seniors, particularly those at the moment of retirement, need more “just-in-time” support for financial decision making to help promote effective action, such as understanding tradeoffs; risks and costs involved in the specific decision; finding a trusted source of information and advice; and avoiding fraud and scams, a new report from the Senate Aging Committee has

Today’s Social Security column addresses questions about how to take spousal benefits while delaying retirement benefits till 70, whether forming an LLC will avoid the effects of the earnings test and when divorced spousal benefits can be available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic

My experience this past year conducting a forensic investigation of the State Teachers Retirement System of Ohio on behalf of the 20,000 member-strong Ohio Retired Teachers Association has convinced me that Facebook groups can be a powerful force to combat looting of America’s pensions by Wall Street. In Ohio, two Facebook groups, Ohio STRS Members

Today’s Social Security column addresses questions about whether having reduced income before filing will reduce retirement benefit rates, potential effects of pensions based on income not taxed by Social Security and benefits potentially available after remarriage. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,

Nearly two years ago, social insurance advocates were celebrating the creation of a new long-term care program in the state of Washington. Here, for instance, is what The Nation wrote in May of 2019: “The Long Term Care Trust Act, which passed the state legislature at the end of April and will be signed into

The American Bar Association this weekend invited me to talk to lawyers and law professors about Social Security. They had two major questions that I believe are shared by almost all Americans. Question 1: Does spending more on Social Security mean we will spend less on children? To think that increasing or maintaining Social Security

As we kickoff 2022, there are some changes related to Social Security and Medicare that you need to know along with some insight into the future. SOCIAL SECURITY Here are some highlights of the most impactful changes Social Security filers face in 2022 and beyond: If you are already receiving Social Security benefits, you will

Can you retire on 10 million dollars? For many Americans, this hefty sum would far exceed retirement needs and may even lead to generational wealth. However, individuals with high incomes often require a larger portfolio to maintain their lifestyle in retirement. Or if you’re expecting sudden wealth from stock options or selling a business, you