If you are a small business owner and are toying with the idea of someday selling your company, you should pay attention. Only one in five small businesses put up for sale result in a closing. How do you become one of those success stories?
In today’s world, the idea that you should prepay, or at least set aside some money to cover your funeral expenses is gaining traction. Given the escalating costs of paying for a loved one’s funeral, it is no surprise. Most of us don’t want to face it, let alone discuss it. In some quarters, it is “bad mojo” to consider planning for your death, so pardon me for bringing up such a squeamish (some might say ghoulish) subject. But as your fiduciary in all things financial, I feel obligated to discuss prepaid funeral expenses. This year, I was introduced to…
The Tax Cut and Jobs Act of 2017, together with rising interest rates have changed the calculus in determining whether to pay down your mortgage or let it ride. Let’s examine the pros and cons.
If you simply read the headlines, you would assume that over half of Americans aged 55 and over, have no savings as they approach retirement. That’s a dramatic statement, but is it true?
As Baby Boomers age, the volume of reported financial scams directed against them continues to escalate. By some estimates, more than $37 billion a year is now being stolen from America’s elderly. And those are only the reported cases.
Despite spending big money and all the marketing they can muster, the Republicans are still not able to convince most Americans that the tax cut benefits anyone but the rich and the corporations they own. Maybe, we are not as dumb as they think we are.
The Department of Labor’s fiduciary rule looks “iffy” at best, thanks to a March court ruling. The 5th Circuit Court of Appeals says the agency exceeded its authority in insisting that financial services firms act as fiduciaries when giving advice to most tax-deferred savings accounts. However, some financial advisors are ignoring the courts and are going the extra mile for their clients anyway. Over the last couple of years, I have written several columns on this issue. A “fiduciary” is someone who puts your best interests above his own and that of his company’s. It is a concept that the…
We all know that Medicare is not free. Once we enroll in Part “B”, and “D”, we start paying monthly premiums. What many consumers fail to realize is that how much you pay depends upon how much you make.
At the best of times taxes are confusing, so much so that most people hire an accountant to prepare them. This coming year should be a real doozy for the accountancy industry.
Rolling your 401(k) or 403(b) into an IRA can be a good idea for some savers but not for others. Here are some things to think about before you make a decision.
Some retiring workers roll their 401(k) tax-deferred savings account into an Individual Retirement Account (IRA). There are good reasons to do so. But for those who are not retiring, the decision is not so clear cut. Here are some pros and cons to ponder.
As politicians squabble over tax reform and cuts, the Internal Revenue Service (IRS) continues to do their job. New tax provisions for 2018 are out and some of them may be of interest to you.
If you are turning age 62 in 2017, I have some bad news. You are no longer eligible for full Social Security benefits at age 66. Instead, your full retirement benefits have shifted to age 66 and two months. By 2022, full retirement age will rise again and again until the age of 67 for everyone born in 1960 or later.
President Donald Trump introduced a flurry of tax proposals last week. Tax reform, as well as tax cuts, was included in his plan. Give him an “A” for effort in tackling something that no politician has dared to do since Reagan.
With Hurricanes to the left and right of us, maybe a review of your home owner’s insurance policy makes sense. You may find out that at today’s real estate values, you are under-insured.
Many Americans confess that they are confused when faced with the myriad of Medicare choices available to them. Others are simply not planning, nor saving enough to meet the challenge of health care costs in old age. In response, a whole new industry has sprung up nationwide. It’s called Life Care Planning, an off-shoot and a natural progression for those practicing Elder Law. What, you may ask, is Elder Law and why has it become so important? Attorneys that practice elder law are essentially advocates for the elderly and their loved ones. They routinely handle a range of legal issues…