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.

» Continue reading “Planning for Retirement and Increasing Life Expectancies”

As we help clients make long-term financial decisions, we also like to consider the probability of various negative outcomes.  While we consider ourselves generally optimistic people, we believe that it is both important and helpful to also think about “worst case scenarios” – those financial uncertainties that have the potential to derail financial goals.

» Continue reading “Increasing Your Odds”

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.

» Continue reading “Retirement Distribution Planning – Which Account?”

In our office, we talk quite a bit about risk.  Financial risk, and more importantly, identifying strategies to help our clients mitigate or manage those risks is a very real and important component of the financial planning process.

» Continue reading “Headline Risk”

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.

» Continue reading “The Basics of Long Term Care Insurance”

Is there another crisis looming? We have been getting this question quite a bit recently from clients, as well as from other professionals in our network.  This is a good question. After all, many things can go wrong.

» Continue reading “Now Is the Time!”

One of the most important financial decisions people face with regard to retirement planning is when to start taking their Social Security retirement benefit.  Making the most of this decision requires careful consideration of a number of variables including tax, cash flow and even elder care issues.   The economic downturn has forced many families to consider taking Social Security earlier than expected.  With that in mind, here are some ideas to consider, when making this important decision.

» Continue reading “Strategic Social Security Decisions To Consider”

A key component of our one-time financial planning engagements involve assessing how much insurance coverage our clients need while also reviewing the insurance policies that clients have in order to determine if they are adequate or necessary.  In doing so, we often find that people have purchased insurance products that are either not necessary or entirely too costly.

» Continue reading “Is that type of insurance necessary?”

Given the turbulence in the financial markets during the week of May 3rd, we would like to provide followers of our blog with a few thoughts and insights.

» Continue reading “Thoughts on Recent Market Turbulence”

This article by Fortune magazine’s Allan Sloan gives an indication of some of the trouble facing the Social Security system.  Consider the following statistics:

• Social Security currently accounts for half of the total income for 52% of married couples and 72% of singles over the age of 65
• Social Security currently accounts for 90% of the total income for 20% of couples and 41% of singles

Those numbers are staggering.  When you think about the looming number of baby boomers who will be applying for benefits over the next several years, high unemployment rates (which mean reduced income into the Social Security system) and decimated investment portfolios, there is no doubt that Social Security needs an overhaul.