Planning ahead for the future is very important because your ability to earn may not be what it once was when you reach your elder years. If you don't take advantage of your prime earning years to feather your nest for your retirement and the twilight years that will follow, you could find yourself in a difficult position toward the end of your life. People are living long lives these days, with the average lifespan for a 60-year-old woman being about 85 years. Perhaps surprisingly the 10 … [Read more...] about Longer Lives Require Bigger Budgets
Self Employment Brings Rewards and Personal Responsibilities
More and more Americans are working for themselves, and this can be a very rewarding choice. You get to make your own decisions, and the sky is the limit with regard to your potential. In fact, many people are working as sole proprietors out of their homes, and this affords many advantages. Obviously you do not have to worry about a daily commute and this saves you money, saves you stress, and reduces your impact on the environment. Another advantage that goes along with working from home … [Read more...] about Self Employment Brings Rewards and Personal Responsibilities
Start Building Your Future in 2013
Now that we have ushered in a new year, it is time to make good on our resolutions. The suggestion here is to take this motivation and use it to start building your future in 2013. Planning is the difference between people who are comfortably retired with the ability to leave behind a robust legacy and those who are not. If you work with an experienced financial planning attorney to devise a sensible plan that is consistent with your capabilities and your objectives, you will be working toward … [Read more...] about Start Building Your Future in 2013
Three Commonly Asked Social Security Questions
The income that you receive from Social Security as a senior citizen is probably going to be very important to you. The Social Security Administration tells us that the majority of individuals who are on Social Security rely on their benefits for most of their income. While the above may be true, you would do well to understand the facts about Social Security so that you have a realistic viewpoint with regard to exactly what this program will do for you. To this end, we would like to provide … [Read more...] about Three Commonly Asked Social Security Questions
Be One of the “Lucky Ones”
When you look around as a working person who has seen his or her 70th birthday come and go you may view people who are your age who have retired as "lucky." There are indeed some senior citizens who have won lottery prizes, and perhaps there are those who have hit it big on the beach with their metal detectors. However, most people who are comfortable enough financially to enjoy their retirement years were by no means lucky. The difference between those who can retire with some modicum of … [Read more...] about Be One of the “Lucky Ones”
Medicare Part B Premiums Rising
When you are planning for your retirement years, it is important to understand what you can expect from Medicare and Social Security. Many people go forward with the misconception that these two government programs provide a comprehensive, turnkey retirement solution, but this is simply not the case. There are premiums and deductibles that must be paid while you are participating in the Medicare program, so it is not truly free health care. And, it should also be noted that Medicare will not … [Read more...] about Medicare Part B Premiums Rising
Spouse of Military Retiree Won’t Receive Pension
The best way to engage in veteran's benefits planning is with the assistance of a licensed and experienced San Jose estate planning lawyer. There is a lot to take into consideration, and you don't want to make any assumptions that create difficulties, or fail to take advantage of benefits that are available to you. Understanding all the different veteran's benefits that you may qualify for is part of the equation. But, you also have to examine how these benefits fit alongside the civilian … [Read more...] about Spouse of Military Retiree Won’t Receive Pension
Seniors Living Together Must State Wishes in Writing
Love and companionship are important to everyone, including senior citizens. When you are widowed or divorced you may eventually find a new partner, and this can make a huge difference in your life during your golden years. However, there is an interesting trend developing that has caught the attention of the elder law community. According to United States Census Bureau statistics, increasing numbers of individuals who are in their 60s are deciding to live together without getting … [Read more...] about Seniors Living Together Must State Wishes in Writing
What Is a Home Equity Conversion Mortgage?
When you are planning for retirement, you must be apprised of all of your options. There are those who are in need of liquidity late in life, and if you find yourself among them you may want to consider taking out a home equity conversion mortgage. Home equity conversion mortgages are federally insured reverse mortgages. As the term "reverse mortgage" implies, things work in a reverse manner with these loans. Rather than you paying the lending institution in an effort to build equity in your … [Read more...] about What Is a Home Equity Conversion Mortgage?
Direct Deposits Totally Replacing Social Security Checks
A while ago we reported on the fact that the Social Security Administration is no longer going to be sending out annual statements to American workers who are contributing into the program. Effective retirement planning really can't be done unless you know how much you can expect to receive from Social Security once you reach the age of eligibility, so these statements are important. The reason why the SSA stopped sending out the paper statements is because of the costs involved. As an … [Read more...] about Direct Deposits Totally Replacing Social Security Checks
