Medical debt is a special kind of debt. Medical debt also tops the list of debt collection complaints at the Consumer Financial Protection Bureau (CFPB). You’ll find helpful tips below, from the CFPB, in how to manage medical debt, try to minimize it, and what not to do with those expenses. For example, don’t put medical […]
It may be overwhelming to manage the affairs and money for a loved one who isn’t able to do that for themselves anymore. The Consumer Financial Protection Bureau (CFPB) has released booklets to help with the money side of things and … especially important … walking you, the caregiver, through your duties, spotting scams, and […]
This article is a brief summary of how all of our * research papers tie together to modernize the retirement income measurement from your investments. In other words, how to determine a prudent amount of retirement income. Advisers generally annually update plans with their clients. An important part of this update process is capturing new […]
I always marvel at a good writers’ ability to digest a complex topic down to its’ essence! Robert Powell did just this in his article titled When are income annuities right for you? Rather than steal his thunder, I recommend you read his article for yourself. Source: Robert Powell’s Retirement Portfolio (Wall Street Journal’s Market Watch) Sept. 7, 2013, 6:00 […]
People do not want to think about needing long term care. Most often, we think of this as an old-age issue. However, injury or illness that takes away your ability to bath or dress may also trigger long term care needs and benefits. Additonally, advances in medicine mean that life is now extended such that the risk goes […]
As I read this book, Your Medical Mind, it struck me how similar making medical decisions are to making financial decisions. For example, a quote from page 82: “… uncertainty pervades much of medical decision making. And in situations where one can not predict the outcome exactly, how the decision is made can be as important as what […]
I am often asked about Long Term Care. There’s more to it than just how to pay for it … just how do you transition and plan for it? This short TED video says it so well I’ll say no more. “Last year, Judy MacDonald Johnston helped two beloved friends make a plan for living […]
There are many unconsidered risks when you co-sign a loan. Your credit rating goes down because your credit ratio has gone up with the added debt … yes it is considered your debt in the eyes of the credit bureaus! Your own ability to borrow is reduced because of your credit utilization and possibly lower credit score. As […]
Disability usually covers lost salary or wages. Long Term Care means convalescent care (not acute care that is covered by health insurance or Medicare/Medicaid/Medi-Cal). Insurance addresses the issue of WHO is going to pay the expenses should the condition occur. No insurance means your assets do.
The aging process makes decision making a challenge as one ages … interestingly the peak decision making ages are in the 50’s for our brains. This article (How to Protect Aging Clients’ Finances) by Mark Miller brings up points we should consider about ourselves as well as our aging parents. This is a natural process that should be […]
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About Larry Frank Sr.
As an MBA and CERTIFIED FINANCIAL PLANNER™ practitioner, I help people make sensible plans for a successful retirement. I'm also the author of Wealth Odyssey, a book about financial planning. My retirement planning research is published periodically in the Journal of Financial Planning.
Have a Financial Question?
- Are market returns really the key to your portfolio value?
- Rebalancing? How does it work?
- Resources to help with aging issues
- The Dividend Income Illusion.
- How do Safe Withdrawal Rates compare to Dynamic Retirement Income?