Retirement Daily

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....

Maybe it’s an out-of-control credit card balance. Maybe it’s a mortgage payment or perhaps it’s mounting medical bills. Regardless of the cause, debt is becoming a growing issue for older Americans, threatening to upend all of their retirement planning and transform their “Golden Years” into gloomy years.

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.”

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.

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.

The approximate $10 per month in cost savings from lower-than-expected 2022 Medicare Part B spending will not be used to lower 2022 Part B premiums and instead will be passed along to people with Medicare Part B coverage in the calculation of the 2023 Part B premium, according Jae Oh, author of Maximize Your Medicare.

Hundreds of articles have been written this year on ways to recession-proof your finances - from establishing a big emergency fund, to paying down debt, and to diversifying your portfolio. This is excellent advice that should work for a lot of people but I’m not sure it will do the job permanently.

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...

In this episode of Ask the Hammer, a Retirement Daily reader has a question:. The latest annual report from the Social Security and Medicare Trustees moves the program's insolvency date back by one year. How might that affect me?. Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners, met with Robert...

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.

Purchasing a retirement home overseas can seem like a dream for those imagining a life abroad. But setting yourself up for retirement comes with many challenges, and adding in the international aspects makes it even more difficult. With so many things to consider, it’s easy to get lost in the...

In this episode of Ask the Hammer, a Retirement Daily reader has a question:. I’ve read that closed-end funds have emerged as a potential solution for retirees seeking to smooth out their cash flows and soothe their shaken nerves. Should I consider such funds for my portfolio?. Jeffrey "The...

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!).

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...

In this episode of Ask the Hammer, a Retirement Daily reader has a question:. It’s Pride Month! What financial planning guidance do you have for the LGBTQ+ community?. Jeffrey "The Buckinghammer" Levine of Buckingham Wealth Partners, met with Robert Powell editor of Retirement Daily to answer this reader's question.

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.

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.

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?

We usually think of the end of the financial story for divorcing spouses as the decree detailing their financial settlement — the division of assets, alimony settlement and child support terms. But, even years after a divorce, Social Security has some options for financial support that revert to the...

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.