Weekend Reading: How Hybrid Life Insurance Pays for Long-Term Care
Hybrid long-term care insurance offers long-term care coverage if needed or a death benefit if not used for care expenses.
Weekend Reading: Cicero: Why Frugality is The Root of Riches
Despite his privileged background, renowned Roman philosopher, Marcus Tullius Cicero, was known for embracing a simple lifestyle. His work inspired numerous thinkers throughout history because according to Cicero, frugality leads to riches.
Weekend Reading: The Time Billionaires
Time is your ultimate currency. How will you spend it?
Weekend Reading: 8 Things You Need to Know About Taxes Once You Reach Age 65
Ask yourself: Are you checking all the possible boxes to maximize your tax efficiency? Or is it time to roll up your sleeves and do some work?
Weekend Reading: How to Find Fixed Indexed Annuities That Work for You
You’re in the midst of a unique retirement planning environment. Many retirees can no longer rely solely on pensions and Social Security for lifelong income, and as a result, annuities (specifically fixed indexed annuities – FIAs), have gained popularity.
Weekend Reading: Could Required Minimum Distributions Cause You to Overspend?
Despite what many might believe, RMDs are required distributions, not required spending. While you must take withdrawals from tax-deferred retirement accounts starting at age 73, you can choose not to spend that withdrawn amount if you don't need it.
Weekend Reading: Money Isn't Real
Money undeniably holds a significant place in your life. The stress and anxiety experienced when bills are due, for example, highlights the emotional impact it can create. Recognizing that money is a construct, however, can help you approach your finances more rationally.
Weekend Reading: Do U.S. Investors Underestimate Risk?
It’s become common practice to utilize U.S. historical data when projecting the resilience of your financial plan. However, this can potentially underestimate the risk of a significant market crash, as relying solely on U.S. data may lead to an inaccurate perception of downside risk.
Weekend Reading: Congress Says You Can Delay IRA Distributions, But it’s a Tax Trap
While SECURE 2.0 allows for delayed RMDs, it may not be in your best interest.
Weekend Reading: Don’t Panic! Social Security Isn’t Going Away Anytime Soon
While policymakers have reforming to do, rest assured, Social Security is more than likely here to stay.
Weekend Reading: Will You Pay Higher Taxes in Retirement?
The combination of RMDs and Social Security income can result in what’s called the "tax torpedo”, but there are ways to help avoid it.
Weekend Reading: Who's Not Sweating the Debt Ceiling? The Markets
Are we headed for a “financial catastrophe”? Today’s news headlines paint a gloomy picture for the markets if Congress doesn't raise the US government's debt ceiling by June 1. However, the markets say otherwise.