Category Archives: Life Planning

DOWNSIZING YOUR “STUFF” ISN’T EASY

When Jill’s surrogate mother died, a bittersweet experience was cleaning out her house. Every book had the name of who was to receive it (she was a retired librarian). The rest of the content in the house was overwhelming in … Continue reading

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WHAT IF YOU LIVE TO 95? OR OLDER?

One of the issues we struggle with when designing a retirement plan is deciding on life expectancy. Should the plan assume you live until 95, 99, 101? After all, the fastest growing segment in the United States is the 85 … Continue reading

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CALIFORNIA AFFORDABLE CARE ACT UPDATE

California’s program is called Covered California (https://www.CoveredCA.com/). Enrollment began October 1 with health insurance being bought to begin January 1, 2014. For this year only, there is a 90-day grace period for enrollment. The last day to purchase insurance is … Continue reading

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PAY SPECIAL ATTENTION TO THESE BIRTH DATES

Age 50: You are allowed to save extra money in many retirement plans (i.e. IRA, 401(k)) when you turn 50. The term used is catch-up provision. Age 55:  Health Savings Accounts catch-up provision starts. Under certain circumstances, penalty-free distributions may … Continue reading

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STARTLING FACTS ABOUT U.S. LIFE EXPECTANCY*

The National Research Council andInstituteofMedicinereported that compared to other developed countries, Americans Die younger Have more illnesses Have more accidents Have higher infant mortality  Even if you are wealthy, college educated, and insured, people in 17 affluent countries have longer … Continue reading

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Financial Planning For Later Years

Our money needs to stretch further as we live longer. Creating a plan for later years can offer comfort as we go forward or raise a flag early enough to make adjustments. To determine how long your money might need … Continue reading

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Potential Consequences of Supporting Adult Kids

“Children are still our largest expense well after they leave home,” said Mr. Bosworth, a senior economics fellow at The Brookings Institution.  Expenditures ranged from small items to helping his sons to buy homes and cars – even after receiving … Continue reading

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BANK ON IT

Grassroots organizations declared November 5 “Bank Transfer Day.” Exactly one month later, proponents of the movement continue to encourage customers of “big banks” to transfer their deposits to smaller community-based banks and credit unions.  Large banks tend to offer more … Continue reading

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Singles Have to Save More

When we create retirement projections for our clients as part of their financial plans, we identify areas of risk and review ways to improve their outlook for retirement. Many of our clients are between the ages of 50 and 65, … Continue reading

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HEALTH CARE COSTS IN RETIREMENT

Fidelity estimates a 65-year-old couple will need on average $230,000 to cover health care costs in retirement.  This is $20,000 less than 2010’s $250,000. The reduction is largely a result of the new Medicare changes being implemented. This decline is … Continue reading

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