Q. My son, Ronnie, has bipolar disorder, and he often doesn’t take his medication. When he is having a manic episode and his mood is elevated, he often partakes in impulsive and irrational spending. At the same time, my mother … [Read more...]
Why Are Some Seniors Upsizing Rather than Downsizing in Retirement?
Q. My neighbors recently retired from work and put their house on the market. Their kids have all moved out, and it’s just them and their dog. At their retirement party, they showed us a picture of the house they were building. It … [Read more...]
Retiree Confidence Is the Lowest in 15 Years! How You Can Plan Ahead for Retirement and Long-Term Care
About 10,000 Americans turn 65 every day, and though everyone's financial situation is different, that means that millions of people are getting ready to retire each year. But according to a recent survey, many are not confident … [Read more...]
There are Downsides to Delaying Required Minimum Distributions (RMDs)
Q. A few weeks ago, you wrote about SECURE 2.0 and some of the impactful provisions of the new law. Among them, you mentioned how the age when Required Minimum Distributions (RMDs) would need to start has increased to 73 for … [Read more...]
Using LLCs and Asset Protection Trusts for Asset Protection of Rental Property
Q. I own a rental property in Springfield, Virginia, that's just in my name. I heard the best way to protect my assets, should I be subject to a lawsuit, is by creating an LLC for my rental and deeding the house to the LLC. But I … [Read more...]
SECURE 2.0: The Biggest Changes for Retirement Savings in 15 Years!
Q. I heard that SECURE 2.0 was recently passed. It supposedly has provisions that make it easier to set aside money for unexpected emergency expenses. I also heard that it will not only help people avoid a short-term money … [Read more...]
Tens of Billions of Dollars of Benefits for Seniors Are Going Unused Every Year
Q. Inflation has gotten bad, and my wife and I have had to dip into our savings more than ever for food and other necessities. What are some ways you suggest to deal with the situation? Are there any benefits we might not be aware … [Read more...]
The Four Phases of Retirement and Leaving a Legacy
Dr. Ken Dychtwald, CEO and founder of Age Wave, is a researcher on aging and financial habits in America, author of 18 books, and one of the world’s foremost experts and visionary thinkers regarding aging and longevity. In some of … [Read more...]
Has COVID-19 Changed Reverse Mortgages?
Q. My husband, Steven, and I have lived in Northern Virginia for nearly 40 years, and we have no plans of moving. We are original owners of our home, and our mortgage has been paid off since 1998. Our children all live close by, … [Read more...]
Avoiding the Most Common Retirement Mistakes
Q. My wife and I are on target to retire in five years. We want to make sure we don’t make any major mistakes along the way. What, in your opinion, are some of the most common retirement mistakes and how can we avoid them? Thanks … [Read more...]
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