Imagining Our Future Selves and the difference between lifespan and healthspan. Can you imagine yourself in six years? How old will you be? How will you be doing? Financial advisors are used to helping clients focus on the future by talking about life expectancies and how long their money will last once retired. But looking […]
1-minute video: How Can You Take Care of Your Spouse Just in Case Something Should Happen to You? Still working? About to retire? Retired? How might you replace lost income for the survivor? Money needed – a lump sum – may come from savings/investments set aside, life insurance, a standby reverse mortgage line of credit, or […]
The aim of retirement planning while working is to accumulate shares. The aim of retirement planning once retired is to conserve shares! Both working or retired, the aim is share management! The value of each share goes up and down over time. Shares are the store of wealth. Dollars are simply a measure of spending […]
Please enjoy this 1-minute video (for those receiving this by email: please click on the blog title line above to view). Social Security is often dismissed or minimized by many when it comes to retirement planning. This is a mistake since Social Security forms a firm foundation that you can’t outlive. People don’t recognize the […]
When you Google “retirement planning” you typically get results about 401ks or investing. On the search topic of retirement, you get few results on how to plan for, transition into, and/or prudently sustain income once retired. The term “retirement” brings to mind, and Google finds results on, the savings and investing part. However, the use […]
Please enjoy this 1-minute video (for those receiving this by email: please click on the blog title line above to view). When it comes to retirement, most people have as their fundamental goal to maintain their lifestyle, or what I call their Standard of Individual Living (SOIL). But, just what is your lifestyle today? How […]
Please enjoy this 1-minute video (for those receiving this by email: please click on the blog title line above to view). Imagine what it is like flying to the moon. The moon is right there, you just fly to it! Right? Except, where the moon is now, is NOT where it will be when you […]
How do you appeal the Medicare Income Related Monthly Adjustment Amount, or IRMAA? Amid the long checklist of things you must do at retirement, this can easily be overlooked, causing you to pay more in Medicare premiums than you need to. The IRMAA was first enacted in 2003 as a provision of the Medicare Modernization Act […]
Dad and child People think about retirement differently. Some think about the financial side of retirement. Others don’t, and just jump in. Either way is okay. Beyond the money, the first question below, what else is there to consider … to be able to say … are you ready? Here are some points summarized in […]
What tends to be forgotten, or at least not mentioned or emphasized, is that in order to purchase an annuity for the income desired, a sum of money has to be removed from the portfolio to do that. What is the income cash flow from that sum of money in the first place before such […]
