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A good estate plan includes a lot more than will. Among the documents to be included are those about medical care. The traditional document is a living will but I’ve downplayed the importance of living wills for years since a better document is the medical care proxy or power of attorney. There are a number […]
Should you convert your IRA to a Roth IRA? A lot of the “rules” out there are not good to follow. That’s why I developed this calculator that will take into effect YOUR own situation so you can make an educated decision and keep thousands, perhaps tens of thousands, of dollars away from the government. […]
The U.S. economy entered a recession in February, according to the National Bureau of Economic Research (NBER). The prior economic expansion had been the longest on record, when using data going back to 1854, as it lasted for 128 months. Economists and investors have long since accepted the NBER’s Business Cycle Dating Committee as the […]
In last week’s edition of Retirement Watch Weekly, I introduced readers to the Family Bank Strategy. Today, we’ll answer some commonly asked questions about it, starting with… Who should consider the Family Bank Strategy? One good candidate is someone who is keeping money in conservative investments as a safety net or in case someone in […]
This article discusses the problem of people who lost track of 401(k) accounts and other retirement benefits. It explains how big the problem is and gives some advice on how to find if you are owed any money from a former employer. If you don’t have any luck finding your 401(k) with your former employer […]
Two researchers at Clemson University, where I spent my undergraduate years, concluded that retirement brings long-term happiness and better health to most people. There are exceptions of course, but their studies found that most people benefit from retiring, and the benefits last. “Unlike happiness, improvements in health are realized over time. Because health typically changes […]
Many people say they want to downsize, but few do it. Even fewer know how to do it effectively and efficiently. They learn by doing, making a lot of mistakes along the way. Bankrate.com has a guide to downsizing. It explains the reasons why people downsize, how to estimate potential savings, and how to go […]
The Investment Company Institute issued a new study of retirement plan participation and concluded previous studies understate retirement plan participation. The new study looks at tax data. Previous work on the subject relied primarily on Census Bureau data. The new study pointed out flaws with the Census Bureau data, and that the Census Bureau changed […]