Let’s face it, seniors today are
healthier, more active and are likely to have longer lives. So what are the financial implications for
retirees who will likely live well into their 80s and possibly their 90s?
We believe that from a financial
standpoint, retirees need to make financial planning decisions that reflect the
high probability that they will live longer.
Here are a few recommendations to consider.
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Many people would prefer that their estates avoid the probate process. While the probate process is not overly costly in most states, it is generally considered a hassle to those who have experienced it. This article discusses several alternatives for avoiding probate.
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During retirement, is it best to take distributions from IRAs, Roth IRAs or personal brokerage or savings accounts? The decision of "Which account?" is an important one with many factors to consider.
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Long term care costs are expensive and rising
every year. For many, a two or three
year stay in a skilled nursing facility could cost several hundred thousand
dollars and potentially wipe out a retirement nest egg.
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Congress finally enacted the
tax reform bill that many have been anticipating for some time. In general, the
new law extends the Bush-era tax cuts for two years and provides taxpayers with
some certainty during this period. While
this comprehensive piece of legislation covers many aspects within the tax
code, here is a summary of some of the major points.
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As the year winds down, it is always a good idea to
review your tax situation to determine if there are ways to reduce your tax
liability. However, the uncertainty surrounding many tax changes is
proving to make 2010 a very difficult year for tax planning. Here are several
items that may warrant consideration prior to the end of the year:
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As the year winds
down, it is always a good idea to review your tax situation to determine if
there are ways to reduce your tax liability. However, the uncertainty
surrounding many tax changes is proving to make 2010 a very difficult year for
tax planning. Here are several items that may warrant consideration prior to
the end of the year:
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At the end of the year, many people begin thinking about making year-end
gifts to their favorite charities. While
making cash donations to the charity of your choice is certainly a convenient
approach, here are other gifting strategies to consider:
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