Bob Curtis, 87, and his wife, Sandy, put down over $840,000 to live in a continuing care retirement community (CCRC) known as The Harborside, following the sale of their home three years prior. The couple expected to spend the rest of their lives receiving care at the facility. Not only will these plans never come […]
Are Personal Checks a Thing of the Past?
It’s the holiday season and with Black Friday and Cyber Monday and the rest of the shopping season approaching, many of us are shopping for that perfect gift for our friends and loved ones. Some of us shop online at Amazon to avoid the crowds, while others prefer the brick-and-mortar stores. Some of us even […]
Legal and Financial Considerations Associated with Multi-Generational Living Arrangements
Most of us know someone whose adult child moved back in with them after college, a job loss, or a divorce. In other situations, seniors who have lost their spouse or who no longer can or want to live on their own may also opt to live with their grown children. These multi-generational living arrangements […]
When Is the Best Time For You to Retire?
Nine Important Factors to Consider and the Most Important Factor that Is Often Overlooked The retirement wave is about to hit. A whopping 4 million Americans are expected to turn 65 every year for the next four years. That means approximately 11,200 Americans who will turn 65 every day through 2028, up from 10,000 […]
Are Military Families Better Prepared for Retirement?
Dear Angel, My cousin and I are the same age. However, he is enlisted in the US Army, and I worked in the private sector for the past 30 years. He is close to retirement, and I am hoping to be as well but may need a few more years. It seems my cousin and […]
Comparing Elder Law and Estate Planning — What’s the Difference?
Elder Law and Estate Planning serve two different functions, yet they are both equally important. One thing that sets them apart is that Elder Law concentrates on preserving your assets while you are alive, while Estate Planning focuses on what happens to your assets after you die. The Farr Law Firm consists of both highly […]
What’s the Difference Between a Certified Elder Law Attorney and a Non-Certified Attorney?
When you hire a Medicaid planning attorney, you are probably looking for someone with lots of experience, a stellar reputation, and many satisfied clients. However, there is another element that most people who are seeking highly experienced Medicaid planning lawyers, elder care attorneys, or estate planning attorneys do not always think of when they are […]
Is Retirement Good or Bad for Your Mental Health?
Retirement is supposed to be one of the best times in your life. You’ve worked for so many years to finally reach this point, and now you can relax and enjoy your time with family and friends. You can move to a warmer climate if you prefer, sleep in, and enjoy your favorite hobbies whenever […]
Is a Reverse Mortgage a Good Strategy in This Economy?
If you’re a homeowner nearing retirement age, you’ve probably seen the TV commercials about reverse mortgages. Tom Selleck offers a friendly explanation of reverse mortgages and how people use them. How accurate is what he and other proponents of reverse mortgages indicate? Are reverse mortgages actually a good strategy to help fund your retirement? How […]
Gen Xers Are Facing an Alarming Retirement Reality
Generation Xers are adults born between 1965 and 1980, and they represent almost 64 million Americans or nearly 20 percent of the population. Gen Xers are now in their 40s and 50s and are the next generation in line to retire behind the baby boomers. Now, a new report from the National Institute on Retirement […]
What Can You Do to Protect a Loved One Who Has Spending Problems?
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 has dementia, and it is getting worse. She sometimes doesn’t remember where she is spending […]
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 is triple the size of their current house! I know that most […]
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 about how far their money will go! Results of the latest Retirement Confidence Survey by the Employee Benefit […]
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 individuals who turn 72 after December 31, 2022. You also indicated that ten years […]
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 also know that your firm offers asset protection […]
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 shortfall but also keep them on track for long-term goals, such as retirement. Both these things […]
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 of that could help? A. Consumer prices have jumped 8.3 […]
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 his recent work, Dr. Dychtwald interpreted research on retirement, organizing retirement into four phases. According […]
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, so we are hoping to stay put for as long as […]
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 for your help! A. As many of you know, […]
- 1
- 2
- 3
- …
- 5
- Next Page »