Getting out early

Sometimes life doesn’t turn out as we expect. A friend of mine lost her job last year after more than twenty years at the same company. She felt confident that her experience would allow her to find a job quickly. She soon discovered, however, that finding work as a 57-year-old was harder than she imagined
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Get tax-smart with reverse rollovers

A lot of people have retirement accounts. Some people use their retirement accounts to build tidy little nest eggs over the course of their careers. They brave the perils of the markets and learn the discipline necessary for investment success. If you are one of those intrepid souls, I congratulate you. Here are some ideas that might help your retirement accounts work even harder for you.
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Take care when you name beneficiaries

Q: My wife and I have finally started to get our estate plan in order. We created a living trust to keep our estate out of probate and retitled our accounts to make sure they are properly included in the trust. Someone suggested that we name our trust as the beneficiary of our retirement accounts. It seems like it would help us keep everything nice and orderly. What do you think?
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Financial Planning for End of Life

Q: My father passed away several years ago. My mother is in her late 80's and is in declining health. What should I do to make sure my mother’s financial affairs are in proper order? A: A few simple steps now will greatly ease many of the transitions you are likely to face in the coming years.
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Is Long-term Care Insurance Worth It ?

I believe it was Bette Davis who said, “Old age ain’t no place for sissies.” I was reminded of this recently as I visited a friend in a local nursing home. It wasn’t one of those posh facilities where patients are pampered through their declining years. This nursing home was, for lack of a better word, sobering. It was clean and the caregivers were genial, but it wasn’t the kind of place I would want to live.
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What you need to know about portability

One of the great challenges in financial planning is figuring out how to transfer wealth from one generation to the next in the most tax efficient manner possible. Tax efficiency, in this context, means moving the most assets while paying the least amount of estate tax. In the past, tax efficient transfers usually entailed complicated trust structures. However, things became much simpler in 2010
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Am I financially prepared for retirement?

Q: I am 67 years old and I am finally getting ready to retire. I have been pretty good about saving money in my IRA and 401(k) over the years and I now have about $600,000 in retirement savings. In addition, my home is paid off and I have another $150,000 in the bank. I want to be sure I am financially ready to retire. I’m especially interested in how much you think I can safely take out of my IRA each year.
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