Retirement Daily

Traditional vs. Hybrid Long-Term Care Plans

When considering long-term care insurance products, there are generally two options: traditional and hybrid plans. Here, the general difference between both is discussed to help determine which type of plan fits your individual financial needs. Traditional Plans. There are several benefits to investing in a traditional long-term care insurance plan....
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Crunch the Numbers Before Enrolling in COBRA

If you’ve left your employer or you’re about to leave your employer, should you sign up for COBRA or enroll in an Affordable Care Act health insurance plan?. According to the Labor Department, the Consolidated Omnibus Budget Reconciliation Act (COBRA) “gives workers and their families who lose their health benefits the right to choose to continue group health benefits provided by their group health plan for limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, the transition between jobs, death, divorce, and other life events.”

Should I Transfer Company Stock to My Kids?

As soon as your business starts to grow, the pressure to make the right financial decisions will grow along with it. No matter what industry you might be in, what your long-term goals might be, or how your business is structured, you know that you need to be planning for the future.

Weekly Roundup Jun 19 - 25

That property you're renting out on Airbnb may create tax-free income. With marriage equality came divorce equality. But do gay divorcées truly have an 'equal' experience to their straight counterparts?. Understand how you can save the most money on your currency exchange before you transfer your hard-earned money overseas.

EARN Act Update

WASHINGTON — The Senate Finance Committee on Wednesday approved two final amendments to a bipartisan retirement reform bill — one focused on disabled first responders and the other on automatic employee enrollments. The EARN (Enhancing American Retirement Now) Act next faces a vote by the full Senate. The...

4 Effective Ways to Boost Your Income

So often, when we think about saving money and reaching our financial goals, we tell ourselves that we have to review every line of our budget and cut back on expenses. Certainly, reducing our largest expenses when possible such as housing, transportation, and food can make a significant difference in cash flow, but it can be really difficult to do, especially when it seems like the cost of everything has skyrocketed lately. After all, we need a place to live and food to nourish our bodies, and depriving ourselves of all fun activities because they aren’t free isn’t the answer.

How to Rent Out Your Home Tax Free

This video was original published on TheStreet Jun. 8, 2022. Many folks are renting out their home or parts of their home as an Airbnb. Here are a few questions to ask yourself to determine what you need to do about recording and reporting income and expenses (and possibly avoid taxes!).

Weekly Roundup June 12 - 18

Reverse mortgages are powerful tools that can enhance your retirement plan. Here are three situations in which reverse mortgages are a good move. When can a person qualify for a claim under a long-term care insurance policy?. Do you believe any of these myths?. According to Fidelity, a couple will...

IRA Gifts at Death

As an advisor to individuals and families, we often find ourselves talking with our clients about their legacy. This typically starts with a simple but difficult question: When they’re gone, how would they like to impact their loved ones, their communities, or causes that they care about? You can likely imagine where the conversation goes from there — we talk through their feelings about gifts to their family, whether they want to leave anything to the charities or causes they support, and even how they want their pets to be cared for. These conversations about their mortality usually get to the core of what’s important in their life, and often become critical guideposts to help them get the most out of their financial assets.

Owning Land in Your Portfolio

In the world of investing, the same core options seem to always come to mind. They include things like: stocks, bonds, mutual funds, REITs, precious metals, and annuities. If an investor is conservative, they might invest in things like CDs, MYGAs, or fixed annuities. Depending on an investor’s experience level or stomach for risk, they might even venture into the world of real estate. This could include investing in things like duplexes, homes, or commercial buildings.

Ask the Hammer: What is a Holding Company LLC and Why Does It Exist?

In this episode of Ask the Hammer, the Retirement Daily reader's question is:. We have our rental properties that are each owned in an LLC, but our lawyer also registered an additional company for a holding company. What is this holding company and why does it exist? Can we also move our other assets (stocks, bonds, etc.) into this holding company LLC?

The Annual Fidelity Retiree Health Care Cost Estimate Report: A Review

Fidelity's annual Retiree Health Care Cost Estimate Report gets a lot of attention. According to the report, an age-65 couple retiring today will need $315,000 to pay for healthcare costs over the course of their retirement. The numbers that are reported have created fear amongst people who are already concerned about outliving their savings. It makes people wonder whether or not they have the financial resources to pay for healthcare costs they may incur during retirement.