Financial Advice for Retirement, Social Security, IRAs and Estate Planning

Bob's Blog on Retirement & Beyond

How to Sell Your Business

November 24, 2010

Selling a small business always is tough. You need to find a buyer who wants to pay your price and has the financing. In this economy, that’s especially tough. One strategy I’ve mentioned in the past and that remains underused is the employee stock ownership plan (ESOP). It has tax benefits for the seller. The […]

Variable Annuity Living Benefits Explained?

November 23, 2010

Don’t feel bad if you find variable annuities complicated. Especially complicated are the living benefits provisions designed to make the policies more desirable to people. Living benefit riders can make withdrawals from the annuity easier and could help pay for long-term care. But they are complicated. How complicated? A report prepared for financial advisors and […]

Younger Boomers Already Worried

November 23, 2010

The Baby Boom generation born from 1946-1964 generally has been treated as one monolithic group by observers. More recently people are learning there are big differences between the early boomers (the first of which turn 65 in 2011) and the later boomers who are still in their 40s. The early boomers were famous for procrastinating […]

Three Reasons to Buy an Annuity

November 22, 2010

Annuities can be confusing. They’re not for everyone, but the sales pitches make it hard for anyone to decide whether or not they’re a good deal. Here’s a simple article that gives three reasons why Baby Boomers should consider putting some of their money in annuities. […]

How Much Does Long-Term Care Cost?

November 19, 2010

You can’t plan for long-term care expenses without some idea of the potential cost. The costs vary greatly around the country. Someone who will receive care in New York City will pay considerably more than someone in Idaho, whether the care is at home, in an assisted living facility, or in a nursing home. There […]

IRA Conversions and the Five-Year Waiting Period

November 19, 2010

I continue to receive a lot of questions about the five-year waiting period for taking distributions after Roth IRA contributions and conversions. There’s a lot of confusion about the rules. It is slightly different for conversions and for contributions. It also is different for income taxation of distributions and the 10% early distribution penalty on […]

Avoiding Rising Bank Fees

November 12, 2010

One way banks responded to the erosion of their finances is to charge more and higher fees to their customers. The fees increase income and enable the banks to build their capital base. A number of these fees are unnecessary and avoidable if you prepare before being high with them. This article identifies six banking […]

The Freddie Mac Tab Updated

November 11, 2010

A major cause of the housing crisis and the following financial crisis was the federally-chartered entities, Fannie Mae and Freddie Mac. The entities encouraged loan brokers to write low quality mortgages and helped ensure there was a ready flow of low interest cash for anyone who wanted to buy a house. The federal government had […]

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