Financial Planning
Future Health Care Costs
Every year, the Milliman insurance industry consulting firm issues a report that estimates the average cost of health insurance and copays across the American population. The most recent study looked at couples who are assumed to live to age 88 and 90, and takes into account premiums and out-of-pocket expenses for a Medicare Part […]
Declining Mutual Fund / ETF Fees
Many investors never see or pay attention to the expense ratios of their mutual funds and ETFs. However, financial planners know that these costs add up, and, as a result, generally seek the lowest cost share class for their clients.
A recent industrywide review by the Morningstar found that, on a asset-weighted basis […]
Advanced Directives
One outcome of the pandemic is to highlight healthcare for the elderly and has brought renewed attention to an important, but often overlooked part of a person’s estate plan – the advanced directive.
Advance directives are generally comprised of a living will and health care power of attorney. These are legal documents that […]
Being Aware of Elder Abuse
When the media talks about elder abuse, people often think about domestic and physical violence. AARP suggests the most likely type of elder abuse is financial. For example, consider the elderly grandmother who is accompanied by her 20-year old grandson to the bank where, at the grandson’s behest, she makes a $4,000 withdrawal. […]
Capital Gains: How to Determine Your Tax Rate
A simple-sounding question that, in the world of tax planning, is harder to answer. The simplest calculation is that, in 2021, single taxpayers will pay 0% capital gains taxes if their adjusted gross income is below $40,400, while joint taxpayers will pay 0% capital gain taxes below $80,800 of adjusted gross income. After […]
Planning After Death
Do you know what happens to your outstanding debt after you die? You might be surprised to learn that it is not as straightforward as you may have thought.
Remember that certain assets, such as life insurance proceeds, retirement and annuity accounts and certain brokerage accounts are not included in the value […]
How can I avoid becoming a victim of a social engineering scam?
Imagine that you receive an email with an urgent message asking you to verify your banking information by clicking on a link. Or perhaps you get an enticing text message claiming that you’ve won a free vacation to the destination of your choice — all you have to do is click on a link you […]
Is there any way to stop getting unwanted robocalls?
Whether it’s a helpful announcement from your child’s school or an appointment reminder from a doctor’s office, getting robocalls has become an everyday occurrence. Unfortunately, robocalls are also used by criminals to collect consumers’ personal and financial information and/or conduct various scams.
The good news is that consumers have won additional protections against unwanted robocalls under […]
Working from Home: Is It Rewarding or Restricting?
Imagine that your employer gives you the choice between working from home or commuting to the office throughout your work week. You might think the obvious choice is to work from the comfort of your own home; after all, staying in your pajamas all day and avoiding stressful commutes sound appealing. But there are some […]
Is It Time to Review Your IRA Estate Planning Strategies?
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which was passed in December 2019 as part of a larger federal spending package, included a provision that warrants special attention from those who own high-value IRAs. Specifically, the “stretch” IRA provision — which permitted nonspouse beneficiaries who inherited IRAs to spread distributions over their […]
