Remarried With Children? 5 Estate Planning Mistakes to Avoid
Couples on their second marriages need to plan carefully for each other and their kids A second marriage can be a balm for the heartache of losing a spouse, be it through death or divorce. Nevertheless, if there are children or other heirs involved, you should...
A 67-year-old who ‘un-retired’ shares the biggest retirement challenge ‘that no one talks about’
In 2007, at age 52, I was forced to retire overnight. An MRI had revealed a tumor, the size of a large eggplant, sitting on my pelvis. In 98% of these cases, my oncologist told me, bone tumors are secondary cancer. He estimated that I had about six months to live. But...
The Financial Penalty of Losing Your Spouse
Prepare for the monetary shock of widowhood When you lose your mate, you lose so much—your best friend, your equilibrium, your future together. And just when you’re at your lowest, it hits you: You could lose a lot of money, too. Your finances may crash in myriad ways...
https://www.aarp.org/retirement/planning-for-retirement/info-2020/5-secrets-to-retire-happy.html
Thinking about retiring? The keys to contentment are at your fingertips Some might say that an ideal retirement would find you waking up in a private Mediterranean villa on a mattress made of freshly ironed $100 bills. And it's true: Money is a big part of a happy...
10 Essentials to Protect Your Loved One — and Yourself — From Fraud
Caregivers can play a key role in keeping criminals at bay It’s a sad fact of life: Criminals target older Americans for fraud. Many older folks have nest eggs. Cybersecurity is not their second language. They came of age during more trusting times. And they may be...
U.S. Inflation Jumped 8.5 Percent in Past Year, Highest Since 1981
Steep rises in energy, housing, food WASHINGTON — Inflation soared over the past year at its fastest pace in more than 40 years, with costs for food, gasoline, housing and other necessities squeezing American consumers and wiping out the pay raises that many people...
A Recession Survival Guide for Retirees
Economic downturns are inevitable. Here's how to protect your retirement nest egg Sooner or later, the economy will fall into a recession, because that’s the nature of the economy: Busts follow booms. For many retirees, the biggest challenge is the investment...
Social Security Resource Center
Social Security retirement benefits are primarily based on two factors: your average income over your working life and your age when you claim them. You get to decide when to start collecting benefits, within an eight-year window from age 62 to age 70. The longer you...
3 Steps to Help You Get out of Debt
How to get control of what you owe For Gail and Tony Dean, the crisis came as they approached 50. Living in South Florida, they decided to move north, near Orlando, where they bought land and began to build their dream home. Then the debts piled up. The couple — she...
What Happens to Your Debts After You Die?
5 things loved ones will have to do to settle your accounts How many times have you told your loved ones that you don’t want to be a burden, and saddle them with a financial mess at the end of your life? It’s a common sentiment. Despite their good intentions, however,...
How Much Can You Contribute to a 401(k) Retirement Account in 2022?
The answer: $1,000 more than you could in 2021 A 401(k) plan is a great way to increase your retirement savings. Your employer will deduct your pretax contributions from your paycheck, and your savings will be tax-deferred until you take withdrawals during retirement....
How Long Do You Have to Keep Tax Records?
For many financial documents, just 3 years — for others, practically forever You may be starting at a heap of paperwork when you finish filing your 2021 federal taxes, which are due April 18. Your first urge may be to sweep them all into a paper bag and put the bag...
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