Archive for PROTECT the Plan from Retirement Risks
By Derek Graham, Partner, Resch, Root, Philipps & Graham, LLC My business partner and I teach a class at Ohio State. In this class, we talk about a triangle of services in financial planning. The bottom of the triangle is what everyone expects from their financial planner, and the top of the triangle is less-encountered issues. […]
Read more →By Greg Geisler, PhD, CPA, Clinical Professor of Accounting at Indiana University-Bloomington The Social Security Tax Torpedo is a problem for moderate-income retirees. “Tax Torpedo” is a cute word for a very high marginal tax rate. If you have additional income above a certain level, that increases the amount of Social Security benefits subject to […]
Read more →By Steve Weisman, JD, Professor, Bentley University, Editor, scamicide.com Things are not as bad as you think. They are worse. A congressional study showed that seniors are 12 percent of the population but 30 percent of the scam victims. A MetLife Mature Market Institute study showed that the cost is about $3 billion annually. The […]
Read more →By Lili Vasileff, CFP®, MAFF, CDFA, Wealth Protection Management Conflicts over money happen to be the number one predictor of divorce. In 1960, we had an increase in divorce through the late 70s and 80s. Starting around 1990, it started to stabilize, then become stagnant, and even decline slightly. But what’s interesting about this […]
Read more →By Bob Mauterstock, CFP®, ChFC, and CLTC, Eldercare Expert, Speaker, Author, Facilitator Most of us are not aware of the changing dynamics within our country. The fastest-growing age group in this country is the people over the age of 85. Many retirees could live 30 or more years in retirement, and they may live as […]
Read more →By Heather L. Schreiber, RICP®, HLS Retirement Consulting, LLC Social Security is a topic that is near and dear to my heart, primarily because I run into consumers and financial professionals every day that just are confused, and rightfully so. In this article, we’ll cover: The steps behind the Social Security primary insurance benefits formula […]
Read more →By Kelley Long, CPA/PFS, CFP® This article is about avoiding pitfalls when continuing to contribute to a health savings account (HSA) once you’re receiving Medicare. There are a lot of Medicare rules that I have had to become familiar with; I do not want to put myself out as a consultant for when and how […]
Read more →By Carroll Golden, CLU, ChFC, CLTC, CASL, LECP, FLMI, LACP, the Executive Director, Limited and Extended Care Planning Center (LECP Center) for the National Association of Insurance and Financial Advisors, C. Golden Consulting, LLC Now is a good time for us to look at a retirement security framework as we approach the most significant surge […]
Read more →By Greg Geisler, PhD, CPA, Clinical Professor of Accounting at Indiana University-Bloomington The tax-efficient order to invest and pay down debts, is in other words, how to maximize the tax-efficient accumulation of wealth while you are working. There are many articles on tax-efficient decumulation once you retire, but there is a very clear tax-efficient order […]
Read more →Tags: CFP, CRC, Greg Geisler, RICP®
Posted in: PROTECT the Plan from Retirement Risks
Leave a Comment (0) →By Marc Kiner, CPA, National Social Security Certificate Holder, National Social Security Association and Jim Blair, National Social Security Certificate Holder, National Social Security Association We are contributing authors to the 2021 Social Security & Medicare Facts book published by The National Underwriter Company. Almost a thousand questions, over 700 pages on Social Security Medicaid, […]
Read more →By Emily Gang, Owner of The Medicare Coach Medicare is delivered in a very confusing way in our country. Unfortunately, the way the government and the insurance companies have set up Medicare, people are very likely to make the wrong decision if they don’t fully understand what’s going on. Making the wrong decision means jeopardizing […]
Read more →By Kelley Long, CPA/PFS, CFP® You might have heard the health savings account (HSA) referred to as the “new” 401(k). Thirty years ago, when the 401(k) first came out, it was thought of as something for just executives and higher income or more savvy planners, and now it’s the everyman’s retirement savings vehicle. The HSA […]
Read more →By Heather Homes, Founder and CEO of Genivity I come from the healthcare industry and spent much time working in hospital systems around the world, working directly with physicians and patients. One of the interesting things that I learned was that regardless of the healthcare system, I consistently saw people delay making critical-medical-care decisions because they […]
Read more →By Carroll Golden, CLU, ChFC, CLTC, CASL, LECP, FLMI, the Executive Director, Limited and Extended Care Planning Center (LECP Center) for the National Association of Insurance and Financial Advisors It took a once-in-a-century pandemic to help us see the need for a plan for caregiving. Combine an aging population, increasing longevity, a shrinking birth rate […]
Read more →By Jack Towarnicky, JD, CEBS, LLM-Employee Benefits, HR/Rewards/Benefits Compliance and Planning Researcher with the American Retirement Association Health savings accounts (HSAs) have been around since 2004. However, only 20-25% of employees who have employer sponsored healthcare coverage have access to that choice. Worse, all too often, the HSA capable health option is poorly deployed and […]
Read more →By Carroll Golden, CLU, ChFC, CLTC, CASL, LECP, FLMI, the Executive Director, Limited and Extended Care Planning Center (LECP Center) for the National Association of Insurance and Financial Advisors What are the Realities and Impact of Extended Long-term Care Today? An aging population is not the only one impacted. The problem spans generations. We often […]
Read more →By Joanne Giardini-Russell, Owner, Giardini Medicare and Cameron Giardini, Giardini Medicare There are the two choices that every 65-year-old is going to face when it’s time to think about what they’re going to do when it comes to Medicare: do they go with a Medicare Advantage Plan or Medigap? There have been a lot of […]
Read more →By Bruce D. Schobel, FSA, MAAA, CLU, CEBS, Consulting Actuary Let’s start with Social Security’s financial status. There isn’t any real news here. For more than 30 years, Social Security’s Annual Trustees Reports have shown a very similar financial picture for the program. The funds have been building up over 36 years, and now they’re […]
Read more →By Phil Bongiorno, Executive Director at Home Care Association of America The number of families utilizing home care services continues to grow in the United States. A higher number of family caregivers who are caring for a loved one with a chronic or debilitating health condition are turning to home care, rather than institutional care, […]
Read more →By Paul Malley, President of Aging with Dignity More than 30 million people have already used Five Wishes. It’s available in 29 different languages and used by organizations, healthcare providers, and faith communities of diverse faiths from across the country and the world. Because it’s translated into 29 languages, it’s appropriate in very diverse populations […]
Read more →By Bob Mauterstock, CFP®, ChFC, and CLTC, Eldercare Expert, Speaker, Author, Facilitator Who is exploiting our seniors? A study was done a few years ago by the MetLife Institute. They determined that elders lost $2.9 billion a year through financial exploitation, and that number is increasing every day. Strangers do fifty-one percent of the exploitation. […]
Read more →By Heather L. Schreiber, RICP®, HLS Retirement Consulting, LLC Who collects Social Security today? Eighty-four percent of non-married retirees and 85 percent of married retirees collect Social Security benefits. Fifty-five percent of Social Security beneficiaries in 2016 were women. Let’s look at the relative importance of Social Security in the broader scope of how American […]
Read more →By Lili Vasileff, CFP®, MAFF, CDFA, Wealth Protection Management Let me start with background on gray divorce and retirement. It is a genuine, real statistic. Every ten seconds, a boomer turns 60 years old. Among the US adults who are age 50 plus, the divorce rate has doubled since 1994. Interestingly, the increase in […]
Read more →By Erin Fisher, President, Find Medicare Plans, LLC Please note: all references to premium, deductible, copay, etc. dollar amounts reflect 2018 numbers. What is Medicare? Medicare is health insurance for people 65 or older. People under 65 can also enroll in Medicare when they have certain disabilities, and people of any age that have end-stage […]
Read more →By Annalee Kruger, President, Care Right Inc. I used to be a social worker and long-term care administrator for over 20 years. Every day, I had families in my office because there was a medical crisis. Mom fell, she broke her hip. Hospital says here’s a list of facilities. Go find one because we’re discharging […]
Read more →By Amber B. Woodland, Esq., Partner at ProcinoWells & Woodland, LLC. The first half of this article was published in our July 2017 issue, and covered the basic definition of elder law, what is Medicaid, payment options for long-term care costs, how to qualify for Medicaid, the Medicaid asset or resource test, Medicaid transfer penalty […]
Read more →By Matthew Allen, CEO, Social Security Advisors About 70 percent of Americans fail to make a smart Social Security decision and instead just guess or claim early. On average, this costs about $120,000 per couple and amounts to about $25 billion per year in lost benefits. Why is this happening? Social Security is complicated. There […]
Read more →By Amber B. Woodland, Esq., Partner at ProcinoWells & Woodland, LLC. This is a topic that I am extremely passionate about. I love what I do; I love serving my community and seniors in my community and helping their families every single day. Most of us know of someone or have a loved one, friend, […]
Read more →By Roy Ranthun, MPH, “Mr. HSA” and Aaron Benway, CFP®, MBA Couples who are 65 years old and retiring today are projected by Fidelity to need $260,000 in retirement to cover all of their out-of-pocket costs for the rest of their life, after what Medicare pays. Medicare also does not include long-term care. For those 45-year-old […]
Read more →By Brad Breeding, CFP®, President and Co-Founder of MyLifeSite I was in the financial planning business for 14 years. I still maintain my CFP® designation because I don’t want to ever take that test again, but I’m no longer actively practicing. Rather, I am focusing on the business that I’m running today, MyLifeSite.net. The idea […]
Read more →By David Armes, CFP®, Principal of Dover Healthcare Planning, LLC How are healthcare costs different? They increase at faster rates than other kinds of retirement spending. Over the last 20 years, healthcare inflation has risen at an average annual rate of about 2 percent more than other types of consumer inflation. Over time, for retirees […]
Read more →Presented by: Cindy Hounsell, JD, President of Wiser, Mary Beth Franklin, CFP®, Betty Meredith, CFA, CFP®, CRC®, President of Int’l Retirement Resource Center and Shelley Giordano, Chair of the Funding Longevity Task Force Most people are familiar with the issues that are unique to women. We’re talking about some issues that may be less familiar. […]
Read more →By Andrew Samalin, CFP, EA, CDFA, Expert in Divorce and Retirement Editor’s Note: Below is an adaptation of the live webinar delivered by Andrew Samalin in 2016. His comments have been edited for clarity and length. You can read the summary article below as part of the 3rd Qtr 2016 Retirement InSight and Trends Newsletter. […]
Read more →Tags: Andrew Samalin, divorce
Posted in: Retirement Income Management, Women and Retirement
Leave a Comment (0) →By the Society of Actuaries and Mathew Greenwald, PhD, Retirement Research Expert Editor’s Note: Below is an adaptation of the live webinar delivered by Mathew Greenwald and Cindy Levering of the Society of Actuaries in 2016. Their comments have been edited for clarity and length. You can read the summary article below as part of the […]
Read more →June 2016, Number 16-9 CENTER FOR RETIREMENT RESEARCH at Boston College By Steven A. Sass* The following is an excerpt with permission from the Center for Retirement Research at Boston College. Introduction Social Security aims to provide retirees a basic old-age income after a lifetime of work. Monthly benefits were designed to replace a greater […]
Read more →By Nyal Bischoff, Independent Long Term Care Specialist Editor’s note: This presentation was delivered in live webinar format in 2015. Nyal’s comments have been edited for clarity and length. You can view a YouTube brief of the original presentation here. You may also choose to take the full length course and earn 1 CRC®, CFP®, and/or […]
Read more →By Ron Mastrogiovanni, President and Chief Executive Officer of HealthView Services Editor’s note: This presentation was delivered in live webinar format in 2015. Ron’s comments have been edited for clarity and length. You can view a YouTube brief of the original presentation here. You may also choose to take the full length course to earn 1 […]
Read more →By David M. Kessler, Elder Fraud Expert, Protecting the Elderly Editor’s note: This presentation was delivered in live webinar format in 2015. David’s comments have been edited for clarity and length. You can view a YouTube brief of the original presentation here. You may also choose to take the full length course to earn 1 CRC®, […]
Read more →By Rick Miller, PhD, CFP®, Founder of Sensible Financial, and Scott Haglund, FSA, MAAA FLMI, Vice President & Director of Actuarial Services at Life & Health Federated Life Insurance Company. Editor’s note: This presentation was delivered in live webinar format in 2014. Rick’s and Scott’s comments have been edited for clarity and length. You can […]
Read more →By Anna Rappaport and David Kaleda Editor’s note: As we approach age 65, chances increase that a worker will experience a disability of several months or longer. When defined benefit plans were the norm, disabled employees had safety nets that protected their retirement security, because employers continued to make contributions/accrue retirement benefits in the defined […]
Read more →By Cindy Hounsell, JD, President of Wiser Editor’s note: It’s estimated that more than 36 million households across the country have an adult who’s providing unpaid care to a family member. Sixty-six percent of those caregivers are women, according to the caregiving in the U.S. studied by the National Alliance for Caregiving. Caregivers spend an […]
Read more →By Carol Bogosian, ASA, EA, MAAA, President of CAB Consulting Editor’s note: This excerpted transcript is from our ongoing Retirement Professional Development courses, and highlights key research conducted by the Society of Actuaries, much of which InFRE has participated in over the last 15 years. It focuses on the misunderstandings of the risks faced by […]
Read more →By Brian Perlman, PhD, ChFC, CLU, Senior Vice President and CFO, Mathew Greenwald & Associates – Retirement Confidence Research Expert Editor’s Note: The following is the second half of an excerpt of the transcript of the live webinar Brian Perlman, PhD. provided in April, 2013 as part of the Retirement Resource Center’s Professional Development Program. […]
Read more →By Brian Perlman, PhD, ChFC, CLU, Senior Vice President and CFO, Mathew Greenwald & Associates – Retirement Confidence Research Expert Editor’s Note: The following is the first half of an excerpt of the transcript of the live webinar Brian Perlman, PhD. provided in April, 2013 as part of the Retirement Resource Center’s Professional Development Program. […]
Read more →By Betty Meredith, CFA, CFP®, CRC® This Mother’s Day, reach out to three women who mean a lot you – your mother, aunts, sisters, cousins and even daughters – and review the following with them. As a pre-read to this article, I highly recommend the November, 2010 article by Eleanor Blayney, “Empowering, Educating, and Engaging […]
Read more →By Ellen J. Tell At some point in their lives, most people will need some form of ongoing assistance, often called long term care (LTC) or long-term services and supports (LTSS). This includes assistance with activities of daily living such as bathing or dressing or supervision required by a cognitive condition such as Alzheimer’s disease. […]
Read more →By Betty Meredith, CFA®, CFP®, CRC® I live just west of Dearborn, Michigan where Henry Ford revolutionized manufacturing in the early 1900s by creating the assembly line. Cars evolved from luxury item for the well-to-do to essential transportation for the ordinary man. Using innovative production techniques, Ford decreased the production time of a car from […]
Read more →By Betty Meredith, CFA®, CFP®, CRC® The financial industry generally classifies a client’s risk tolerance by their capability to assume investment risk. When retirement planning for the mid-market, retirement counselors need to prioritize a client’s ability to protect against the additional primary risks of inflation, longevity, health and long-term care before they plan for their […]
Read more →By Betty Meredith, CFA®, CFP®, CRC® The Society of Actuaries’ Committee on Post Retirement Needs and Risks recently completed a significant series of planning briefs to help consumers make more informed retirement decisions. Drawing upon the expertise of prominent retirement professionals, the result is this thought-provoking series of 11 issue briefs written in everyday language […]
Read more →By Kerry Prechter, Editor, Retirement Income Journal A directory of 27 software tools accompanies this overview of the rapidly evolving retirement planning technology industry. “Only the dead know Brooklyn,” a great novelist once wrote. Thomas Wolfe wasn’t referring to zombies; he was just observing that no one alive could possibly know everything there was to […]
Read more →Introduction: Since 2008, the financial atmosphere around the world has been in constant change. The 2008 downturn experienced in the United States has been followed by a rollercoaster-like recovery period. And this financial turmoil includes worldwide economic chaos, as well as the U.S. debt ceiling crisis in the summer of 2011. To measure the effects […]
Read more →The Impact of Retirement Risks on Women Study was sponsored by WISER and the Society of Actuaries’ (SOA) Post Retirement Needs and Risks Committee (see description of both organizations at the end of this article). InFRE has been an active member of this committee since its inception, and partners regularly with the SOA on studies that will […]
Read more →AARP is redefining the definition of long-term care for older people to include the availability of housing with services, accessible transportation, and funding of respite care for family caregivers. When my mother passed at the end of last year, I realized the importance for all these types of services. By expanding the definition of long-term care […]
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