The decision to rent your home instead of selling it is both a financial and emotional decision. After all, this isn’t just an asset; it’s a place where your life has been centered. So think carefully before you become a landlord. [Read more...]
Lending In the Family
January 4, 2013 by ·
Many successful businesses began with a loan from a family member but many families have had problems with business loans. So it’s best to be cautious. Whether a relative has asked you for a loan, or you’re the one who wants to borrow, here are some guidelines. [Read more...]
Think About Your Beneficiary
January 4, 2013 by ·
When you joined your employer’s retirement savings plan, you chose a beneficiary who would receive your plan assets if you die. You probably picked the person or persons who made the most sense at that time. But circumstances in your life may have changed since you selected a beneficiary, and now you want to choose a different beneficiary. [Read more...]
Should You Consider A Reverse Mortgage?
January 4, 2013 by ·
Reverse mortgages can be worth exploring for older homeowners who are house rich and cash poor. These loans draw against your home’s equity to put money in your pocket, and unlike home equity loans or traditional “forward” mortgages, they don’t require income or a credit score and are not repaid monthly. Instead, the total loan plus interest isn’t due until the last surviving borrower sells the home, leaves it for 12 consecutive months or dies. Of course, it’s important to carefully compare the available options and fully understand the ramifications before proceeding. [Read more...]
Handle a Windfall Wisely
January 4, 2013 by ·
Sudden wealth—whether from a gift, inheritance, business sale or other source—can be overwhelming if you’re unprepared. Careful planning can mean the difference between preserving your wealth and watching it evaporate. [Read more...]
How Risk Influences Our Investment Framework
October 12, 2012 by ·
Social Security Information: Important at Any Age
October 11, 2012 by ·
Your personal Social Security statement contains important information that affects your financial future. Recently, changes were made in how this information is delivered to you. What hasn’t changed is that everyone should regularly check their statements to make sure that earnings (on which eventual benefits are based) have been reported properly. If the figures on your statement don’t look right, it’s up to you to contact the Social Security Administration and correct matters. [Read more...]
Protect Your Medical Decisions
October 11, 2012 by ·
Beyond wills and trusts, planning for the future should also include two advance directive documents—a living will and a health care proxy—that would take effect if you were unable to dictate your own medical care. Everyone, both yourself and any aging family members, should have both documents properly filled out, witnessed, and on file with health care providers as well as at home. [Read more...]
Planning For Your Parents’ Elder Care Needs
October 11, 2012 by ·
Are you part of the “sandwich generation,” caring for both parents and children while mapping out your own retirement? Planning for your parents’ elder care is probably low on your to-do list, but the sooner you begin talking and planning, the better for everyone. Mid-crisis is not the time to gather information or make important decisions. Here are some suggestions to ease the process. [Read more...]
