The Talk: Leaving a legacy in retirement


In the process of writing my book, “Having “The Talk”: The Four Keys to Your Parents’ Safe Retirement,” I’ve found that one of the ways that adult children can connect with their retiring or retired parents is to view the process of creating a legacy for them as a very fulfilling project that can be jointly undertaken. [Read More...]

The Talk: Danger signs for elderly investors


Adult children of retirees and pre-retirees need to speak with their parents earlier, rather than later, about retirement and the need to address financial and life matters. That’s the major take-away of my book, “Having The Talk: The Four Keys to Your Parents’ Safe Retirement.” It’s a difficult discussion to have and that’s why most [Read More...]

How to Fix America’s Financial Health

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Wells Fargo has just come out with a new survey about the health of American adults. The good news is that most Americans feel that they’re in good or great shape physically (this may ease some concerns about health care costs), but the bad news is that less than half feel the same about being financially healthy. However [Read More...]

Time to stop procrastinating on long-term care

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Mike Padawer writes in his new book, “What’s the Deal with Long-Term Care“, the following: ” The reality is that the longer you live, the greater the likelihood is that you will require long-term care services. The costs associated with needing long-term care are significant, and while it can take decades to accumulate the assets you’ll [Read More...]

Long-term care planning too often ignored

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In business, partners must protect themselves from the financial ramifications that a significant health or lifestyle change of a partner can have on the other. To protect themselves, business owners form a “buy/sell agreement” as a kind of “insurance” against these events, which cannot only place a significant burden on one partner, but can cripple [Read More...]

For long-term care, you’re on your own


The early discussions and battles around the Affordable Care Act now seem like ancient history. Yet there was one part of that act that was a “key priority” of the late Senator Edward Kennedy. This provision, which was actually enacted as part of the ACA and was a federal law, would have created a voluntary and [Read More...]

How to live to 100 — but can you afford it?


In my past life as a financial adviser, I once had a very wealthy client who had a simple plan that he wanted me to execute: provide him enough retirement income so that when he reached his 100th birthday, his account would be zero. I remember going back to him and telling him that with [Read More...]

Is your financial adviser an endangered species?

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A decade ago, we heard the talk of how online and call center brokers were going to bring about the demise of the financial adviser. Even though online trading has provided easier ways to buy mutual funds and stocks, the need for advice is still so strong today that this prophecy hasn’t taken place. In [Read More...]

How to choose a retirement community

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Planning ahead for the later stages of retirement can help retirees and their loved ones avoid difficult, and often costly, situations in the future. The process for researching retirement living and care alternatives is not a simple one and often creates more questions than answers. The decision of where to live in retirement can often [Read More...]

Pay college athletes by funding their IRA

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It’s March Madness. You know, that time of the year when the Employee Benefit Research Institute (EBRI) issues its report on the current “retirement crisis.” Oh, and it’s also that time of year when I can’t watch anything else but college basketball on my television set. It was while I was searching through the many channels on [Read More...]