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cost health care

Medical debt problems?

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 […]

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CFPB

Managing your loved ones money and affairs

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 […]

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withdrawal rates and POF

How to Use “Dynamic Updating” to Determine a Prudent Retirement Income Based on Age

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 […]

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retirement

When should you get an immediate annuity? – Updated

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 […]

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long term

When you need help with daily living activities …

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 […]

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Your Medical Mind. How to decide what is right for you.

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 […]

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end of life

How to prepare for a Good End

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 […]

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cosign

Co-sign a loan? Think carefully …

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 […]

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LTC

What is the difference between Disability and Long Term Care insurances?

  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.

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brain

Aging and Finances

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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