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Retirement Planning

Many Americans are underprepared for retirement — and that was before the coronavirus pandemic
May 9, 2020

Everyone needs a backup retirement plan, especially in the middle of a crisis. Here’s what Marketwatch had to say about it: Half of Americans said they retired before they were ready because of factors outside of their control — and that was before the coronavirus became a global pandemic. More…

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Caregiving: What’s Your Strategy?
April 6, 2020

There’s an adage often found on decorative signs and other accessories that reads, “Be nice to your kids; they will choose your nursing home.” The saying rather drives home the best and the worst aspects about planning for old age. Many retirees will tell you that their most fervent wish…

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Boomerangers: When the Chickadees Return Home To Roost
February 24, 2020

That first summer after they graduate from college. When they get laid off. After a divorce. There are plenty of times in life when adult children, albeit reluctantly, move back in with their parents until they can get on stronger financial footing. Unfortunately, this has a way of happening right…

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Baby Boomers Staying Home for Retirement
February 17, 2020

In 1989, Harvard economists published a study concluding that as baby boomers aged out of the residential real estate market, there would be a glut of empty homes and prices would plummet.1 That clearly hasn’t happened yet, for a variety of reasons. Economists didn’t account for boomers’ life expectancy extending…

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Work World: Late Career Management
January 20, 2020

The number of workers older than 64 has increased threefold since 1989.1 And while working longer may be a marker of good health for some, it’s a necessity for others who need the income. As a result, we may need to rethink our idea of what retirement looks like in…

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The Age of Experience: Always Improving
December 23, 2019

It’s not just fine wines that get better with age. We also are always improving — growing more confident over time, having met challenges and overcome them. Our decision-making gets easier. We develop coping mechanisms to handle stress. And we grow wiser. Our knowledge and experience accumulate as a strong…

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Generational Differences in Handling Money
October 21, 2019

The baby boom generation is the demographic engine that has driven U.S. economic growth over the past 50 years. But now, as boomers work less, spend less, retire and draw on retirement funds, that baton is being handed over to Generation X and millennials. The economy is fueled by consumer…

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Portfolio Design Must Change in Response to Longer Lifespans
September 30, 2019

There is one predominant reason why retirement portfolio design must be approached differently today than in previous years: There is an infant alive in this world, right now, who is expected to reach age 200.1 That’s the prediction from demographers researching life expectancy trends, according to Olivia Mitchell, a business…

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Upcoming Changes for Medicare Supplement Insurance Plans
August 26, 2019

A Medicare supplement insurance plan, also known as a Medigap or Med Supp plan, is purchased in combination with original Medicare to help pay out-of-pocket costs not covered by original Medicare. As of Dec. 31, 2018, nearly 13.6 million people were covered by Med Supp plans, representing nearly a 4%…

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Assessing your Mortgage Situation in Retirement
July 23, 2019

When it comes to retirement preparation, a common benchmark goal is having one’s mortgage paid off. This typically removes a large, ongoing payment from the budget and can reduce retirement expenses substantially. Some people even schedule their retirement just after their final payment date. Here’s an even better idea: Schedule…

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