Retirement

Lump-Sum Options present questions that deserve careful consideration. Getty Recent changes by the IRS have perked up interest in companies offering lump-sums to recipients of monthly defined benefit pensions. Most recently, General Electric (GE) announced was freezing its defined benefit plan and would be offering lump-sum options to 100,000 retirees. Lumps-sums are not new: AT&T,

85% of Gen Zers (ages 18-24) say that rising healthcare costs make it difficult to save for … [+] retirement. Getty A new study has confirmed what you likely already know: It’s getting harder than ever to get by in America. One of the main reasons is that the cost of health care in this

It’s not always easy to find ways to cut when developing your budget. But there are definitely line items we turn to first. Splurges get axed before any other expense, whether it’s travel or eating out, according to a new survey by credit repair service Lexington Law. What’s often ignored: the low-cost monthly subscriptions. The

A regenerative medicine company in Vancouver, British Columbia that focuses on treatments for nerve damage and neurodegenerative diseases announced it will begin Phase 1 studies in early 2020 on a new treatment for Alzheimer’s disease. NervGen Pharma wants to advance its proprietary therapeutic technology platform, currently in development for spinal cord injury and multiple sclerosis

Getty The key question you must answer before claiming Social Security benefits or developing a retirement plan is: How long will retirement last? Another way to phrase the question is: What is my life expectancy? You can start to answer this question by using the average life expectancy for your age group. You also can

By Lucy Lazarony, Next Avenue Contributor Getty The number of people 55 and older filing bankruptcies has skyrocketed since 1991, and that’s even more true for those 65 and older. Bankruptcy can offer a fresh start if you’ve fallen on tough times and are unable to pay your bills. Once you file bankruptcy, you’re no

By John D. Anderson, Next Avenue Contributor Getty Your second half of life can be invigorated and energized by living out one or more of three opportunities. You can do all three at once, but will benefit most by focusing your energy on one, and enjoying the other two as additional fuel. They are: Pursue

Spending vs. saving during retirement stock.adobe.com During the years leading up to retirement, individuals are constantly told to save, save, save and then to save some more. Once they reach retirement, it becomes very difficult for many to flip the switch from saving to spending. I have been helping clients for over 30 years with

I run across “buy and hope” investors all the time. You know the type: they latch on to a big-name stock, like Visa (V) or Berkshire Hathaway (BRK) and “hope” for big price gains. Truth is, that’s their only option. With most big-cap stocks paying less than 2%, they’re sure not getting much in dividends!

Letters in letterbox saying payment due Getty I’ve written multiple times about the concern that if people are prodded or even compelled to save for retirement who can ill afford it, it may have the effect of making them worse off, if rather than the proverbial forgoing of lattes at Starbucks they end up in

Many of us near retirement or in retirement love to hate the government. But if we’re honest with ourselves, we also love the retirement benefits the government provides. This is probably attributable to how government programs stack up against other sources of retirement capital. Human capital, i.e. the income generating potential of a person at

Think people want government out of their lives? Here’s a counterexample: Most Americans want the government to force them to save and to force employers to provide a retirement plan. The polling behind this view is so clear that I don’t know why more politicians aren’t talking about it.  Part of the growing mountain of

Overbuilt Getty What happens when rich people in blue states discover the moving van? Trump is wreaking havoc in the ritzy suburbs of New York City. His tax cut raised taxes for high-income people in high-tax areas like Connecticut and New York because it all but eliminated the deduction for state and local taxes. Just

Have you heard the saying, the rich get richer? It’s more than just a saying. One of the reasons they do is because they have access to programs not available to the average person. 401(k) news headline in center of torn dollar bill Getty One of them is the “$100 million 401(k) plan” that’s popular

E-wills are coming. The ability to create, sign and store a will online is becoming a reality in some states. The Uniform Law Commission recently passed the Uniform Electronic Wills Act. This Act will serve as a model for other states who want to adopt this type of legislation. Some states have already dipped their

Finding a retirement advisor is not as easy as it sounds. The sheer amount of advisors out there can be overwhelming, let alone the different types of platforms, devices, services, and other technology that are available all trying to vie for you and your hard earned dollars. Here’s the problem. You can find thousands of

At what age should you see a geriatrician? The easy answer is, there’s no easy answer. Merriam-Webster defines a geriatrician as a specialist in geriatrics, which in turn is defined as a branch of medicine that deals with the problems and diseases of old age and the medical care and treatment of aging people. But

Getty You know the old expression, “Everybody talks about the weather, but nobody does anything about it.” I sometimes feel that way about the high cost of health care. But Dr. Marty Makary, author of the new book about America’s health care system — The Price We Pay — is someone who’s actually doing something

Getty We’re in the midst of Medicare’s annual Open Enrollment season, which runs from October 15 through December 7. The decisions made during Open Enrollment are some of the key retirement financial decisions. Surveys show that even the affluent worry that retirement medical expenses will dissipate their wealth. Making shrewd decisions about Medicare coverage is

New plan finder Screenshot The Open Enrollment Period is officially on so we must all use the new Medicare Plan Finder. In the month since its introduction, the Centers for Medicare and Medicaid Services (CMS) has made some changes and added information. Here’s an update on how the Plan Finder works now.  Drug costs still very problematic