10 Ways the Elderly Can Avoid Financial Abuse

with No Comments

Increased dependency due to illness, disability or cognitive impairments can make seniors susceptible to financial abuse. Nest eggs accumulated over decades also often make seniors attractive targets for predators, whether the predator is an offshore bogus sweepstakes or a care … Read More

How to Protect an IRA From Heirs’ Creditors

with No Comments

When a person declares bankruptcy, an individual retirement account (IRA) is one of the assets that is beyond the reach of creditors, but what about an IRA that has been inherited?  Resolving a conflict between lower courts, the U.S. Supreme … Read More

What Is the Difference Between a 401(k) and an IRA?

with No Comments

The terms 401(k) and individual retirement account (IRA) are bandied about quite a bit when discussing retirement planning, but what are the actual differences between the two? The main distinction is that a 401(k) — named for the section of … Read More

Long-Term Care Costs Continue to Rise

with No Comments

Genworth, a long-term care insurance provider, has just released the findings of its 2016 survey on the costs of providing long-term care. Not surprisingly, costs have increased since the 2015 survey. In fact, costs have steadily risen over the past … Read More

Understanding Charitable Remainder Trusts: How to Secure a Lifetime Income, Save on Income / Capital Gains Taxes & Benefit a Charity at the “End of the Day”

with No Comments

Since 1969, countless families have used charitable remainder trusts (CRTs) to increase their incomes, save taxes and benefit charities. What does a CRT do? A CRT lets you convert a highly appreciated asset like stock or real estate into lifetime … Read More

Financial Challenges Facing Seniors…And How to Fight Back

with No Comments

Most of us look forward to a retirement filled with leisure and relaxation, but many older Americans are facing financial difficulties that are destroying their retirement dreams. One article addressed some of seniors’ biggest financial challenges and what they can … Read More

Avoiding Pitfalls When Forced to Start Breaking Your Retirement Piggy Bank

with No Comments

The oldest of the 75 million baby boomers have begun turning 70 in 2016. Becoming a septuagenarian is a milestone in itself, but it also means that soon the IRS will likely be expecting you to start cashing out your tax-deferred … Read More

Understanding the Tax Consequences of Inheriting a Roth IRA

with No Comments

Passing down a Roth IRA can seem like a good idea, but it doesn’t always make the most sense. Before converting a traditional IRA into a Roth IRA to benefit your heirs, you should consider the tax consequences. Earnings in … Read More

How to Use IRA Savings to Buy Long-Term Care Insurance

with No Comments

Long-term care insurance (LTCi) is an important element of good retirement planning, since it offers financial protection against unexpected illness or disability that would otherwise eat into savings. However, many LTCi plans are simply too expensive for most retirees or … Read More