I hung up the phone and shook my head. I have a good friend (I’ll call him Joe) who talks with me about his retirement fears. He’s in his peak earning and expense years with children getting ready for college. He’s diligent about making his 401 (k) contributions although he is not contributing the maximum. As always, I suggest he […]
» Read moreI have a confession to make. I’m getting older and I’m not the man I used to be. At times it’s embarrassing and humiliating. During my working career I spent 40+ weeks per year flying all over the world. I had millions of frequent flyer miles and knew all the ins and outs of the game. I was a genuine […]
» Read moreIn a recent article I outlined some virtues of rolling over a traditional IRA or 401 (k) into a Roth IRA. As baby boomers transition into retirement their concern moves from accumulating wealth to keeping it. Today we are going to learn from a professional who deals with these issues regularly – a certified expert. Good friend Jeff White, President […]
» Read moreWe just took off, probably less than 500 feet in the air, and I started screaming, “FIRE!, FIRE!, FIRE!” I was still a teen-ager, flying in the Marine Corps version of a flying boxcar. There were only two small, round windows in the back of the plane. Flames were pouring out of the starboard engine well past the rear window. […]
» Read moreGood friend Alex N. recently sent me an article from the Pittsburgh Post-Gazette, “IRA Clock is Ticking”. Author Tim Grant warns, “If seniors unknowingly miss the Dec. 31 withdrawal deadline, it ends up costing them dearly in the form of a tax penalty that amounts to 50 percent of what they should have withdrawn.” He explains the Required Minimum Distribution […]
» Read moreA recent email from my good friend Toots got my attention. She lamented, “We just received our real estate tax bill. Many of our retired friends, who thought this was to be their ‘forever’ home, are being forced to sell and move”. This is a preview of things to come. The State of Illinois is headed off the financial cliff and […]
» Read more“OK people, listen up!” screamed my drill instructor at the top of his lungs. We knew we better pay attention. I recently interviewed Michael Dubrow of Moneytips.com about research they have done in conjunction with their book, The Retiree Next Door. Michael’s response to one question really got my attention. “Most people know what they should do: plan, save more, and spend […]
» Read moreLeisa Peterson recently interviewed me for a column in the Huffington Post. It was part of a series of fascinating e-books, The Retiree Next Door; Financial Professionals Reveal their Retirement Secrets. I contacted book author Michael Dubrow and was excited when he agreed to an interview. I wanted him to discuss his experiences in putting together the book. Michael has a cool website […]
» Read moreThe 2015 Social Security and Medicare Trustees Report was released in late July. It starts off with an urgent warning for everyone. “Social Security’s Disability Insurance (DI) Trust Fund now faces an urgent threat of reserve depletion, requiring prompt corrective action by lawmakers if sudden reductions or interruptions in benefit payments are to be avoided” I’ll skip the fuzzy-math and get to […]
» Read moreParenting never ends. My granddaughter bought her first car and asked me about insurance. She had two quotes: one with a $100 deductible and a second for $500 deductible. She was leaning toward the $100 deductible because “it was only $10 more per month”. So why not take that option? I explained the higher premium policy buys an additional $400 in […]
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