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Need Pension Help?

You or a loved one may recall having a pension benefit but didn’t claim it or lost track of it. There are a couple of resources to help you, or you help your loved one, track it down. The Pension Benefit Guarantee Corporation (PBGC) has a tool on their site to find an unclaimed pension. The site […]

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Reverse Mortgages

“What’s the Deal with Reverse Mortgages?”

On occasion I change my mind on a topic when the facts have changed. Reverse Mortgages are in that category. The program has undergone many improvements as a result of the Reverse Mortgage Stabilization Act of 2013. Home Equity Conversion Mortgages (HECM) are called Reverse Mortgages for short. “HECMs help seniors remain financially secure by […]

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72 breakeven years

Younger than 59 1/2 and need money from your IRA?

Most people are aware that they need to wait until they’re 59 1/2, or older, to withdraw money from their IRA without tax penalties. Many are unaware that they could, if needed, withdraw money from their IRA without penalty. This post isn’t about what is called 72t or Substantially Equal Periodic Payments per se. There […]

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What changes when your kid turns 18?

We don’t simply throw a switch and forget about our children when they turn 18. But … legally a lot changes and we have no say for them at that point. They may be living close, or living far. It doesn’t matter. Not having a couple of key documents, even for them just starting out, could […]

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Aging in Retirement – Nipping Financial Issues in the Bud

“Mild cognitive impairment causes memory loss and poor judgment, both of which may not be obvious until it’s too late. Seniors with mild cognitive impairment are at risk for making disastrous money management decisions that can jeopardize their life savings, their home ownership, as well as the finances of other family members.” writes Sarah Stevenson […]

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How Should You Buy a Car in Retirement?

You are retired and need to replace your car. How do you do that? Buy it with cash? Or get a loan? The answer is not a simple as one might think – it depends on how old you are and how expensive the loan and/or car are. This question refers to those who are […]

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Arieh_L__Popik_with_his_wife,_parents,_children_and_grandchildren_in_1955

Who benefits when Social Security changed?

Changes needed for Social Security to be better funded often ignore a simple point – who benefits from the change? Short answer – anything done, to improve funding, benefits our children and grandchildren. Social Security is a multi-generational program … people forget this when they view it as a government program and mentally picture government (bad) […]

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What returns give, volatility takes away.

Many people focus on just returns, thinking that the higher the return the better their results. The consequences of such a focus while saving money are not felt as much (buying low) as they are once retired (selling low) and trying to manage the pot of money to give income for the rest of one’s life. Let’s take […]

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Outliving older ages

You Should Expect to Get Older, as You Get Older

Most people think of retirement planning as determining how much money they need to save up in order to spend it over a fixed, or set predetermined, number of years in retirement. This is wrong! The number of years one may have in retirement is not fixed! So the profession works around the dilemma of uncertain […]

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reverse mortgage

Reverse Mortgages and Retirement Income Planning?

You have probably heard the term Reverse Mortgage, but just what is it and what does one do for you? Here are some great resources to help you learn about them in the comfort of your home so you can decide how one may work for you (more on that later). Note: Home owners need […]

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