What should you concentrate on as the transition approaches? You can prepare for your retirement transition years before it occurs. In doing so, you can do your best to avoid the kind of financial surprises that tend to upset an unsuspecting new retiree.   How much monthly income will you need? Look at ...

Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid of what their heirs may do with it. If a child comes from money and grows up knowing they can expect a sizable inheritance, that child may look at family wealth like water from a ...

We’ve been hearing for years that the Social Security fund will run out of money in 2034, and a close reading of the Social Security Administration’s Trustee Report projections (https://www.ssa.gov/oact/TRSUM/) show what exactly this would mean. By that time, based on estimates of the number of people earning an income ...

If you’re a dedicated market geek with plenty of time on your hands, you can uncover some very interesting things about stock market history and perhaps learn some interesting lessons from them. Below is a snapshot of some of them: Since 1916, the Dow Jones Industrial Average (which predates the S&P ...

Do your investment choices echo your outlook? Are they in agreement with your values? These questions may seem rather deep when it comes to deciding what to buy or sell, but some great investors have built fortunes by investing according to the ethical, moral, and spiritual tenets that guide their ...

TOD, JTWROS – what do these obscure acronyms signify? They are shorthand for transfer on death and joint tenancy with right of survivorship – two designations that permit automatic transfer of bank or investment accounts from a deceased spouse to a surviving spouse. This automatic transfer of assets reflects a legal ...

Most federal government employees rely on the government’s Thrift Savings Plan (TSP) as their primary retirement savings tool. The TSP is designed to serve as a 401(k)-type retirement plan for these workers. However, there are some serious drawbacks to TSPs when compared to 401(k)s, especially when it comes to their distribution ...

Many people wait too long to create advance health directives and appoint a health care surrogate―and the results can be tragic. A recent article, by a physician, who is also a financial planner, illustrates a not-uncommon situation in which nobody wants to find themselves. The story begins with a woman suddenly ...

If you haven’t been really, really sick in the last few years, you may not have ever heard of the “donut hole” in Medicare Part D prescription drug plans. This is the common name in the medical field for an unusual coverage gap where, if you incurred $3,750 worth of ...

What would you have to make to be a one-percenter? That is, to have an income in the upper one percent of the population, in the U.S., Singapore, China, Brazil, England or Australia. The answer, of course, differs in every country. At the bottom of the scale, someone earning $81,000 ...