Can you pass a retirement literacy quiz?
The American College of Financial Services periodically conducts a retirement literacy quiz for prospective retirees. The 2020 quiz consists of 38 questions covering all important retirement issues. Unfortunately, 8 out of 10 individuals taking the 2020 quiz failed to get a passing grade. More than half of respondents underestimated the life expectancy of a 65-year-old man. Only 31% have ... READ MORE
Beware Medicare scams
Every year during health insurance open enrollment season, scammers try to dupe unsuspecting consumers into sharing their personal information. You may receive a call (or recorded message) from someone who claims to be helping you navigate your Medicare options. They may call themselves a “healthcare benefits advocate” or a similar title. The caller says they can enroll you in a... READ MORE
Reevaluate your Medicare coverage now
It’s that time of year again: Medicare’s annual Open Enrollment period. Each year from October 15 to December 7, current Medicare users are able to compare and switch their Medicare and Part D prescription drug plans, if wanted. New users are able to enroll during this period, so long as it is not their first time enrolling in Parts A or B. (Your initial enrollment period... READ MORE
How to choose a trustee for your estate
You know how hard you have worked and the sacrifices you have made to achieve your goals. To protect what you have worked for and provide for the most important people in your life, you may be counseled to put some or all of your assets into a trust. Once you have decided to fund a trust as part of your succession planning, you must determine who can best carry out your plans. “Whom do ... READ MORE
Pros, cons of Medicare Advantage plans
About 1 in 3 people 65 and older in the U.S. enroll in Medicare Advantage, the private insurance alternative to traditional Medicare. It’s not hard to see why: Medicare Advantage plans often cover health needs that Medicare doesn’t, and most people don’t pay extra for it. But Medicare Advantage can be more expensive if you get sick, because copays and other costs can be higher,... READ MORE
A simple guide to help your money last
Steve Vernon has a great deal of expertise in retirement planning, having written six books on the subject. His latest, Don’t Go Broke in Retirement: A Simple Plan to Build Lifetime Retirement Income (Rest-of-Life Communications), is an excellent source for middle-income people who want a straightforward plan to build a lifetime of retirement income. I believe the book will be very... READ MORE
How to recognize and stop elder abuse
Dear Savvy Senior, Can you write a column on how to recognize elder abuse and what to do if you suspect it? —Concerned Relative Dear Concerned online pharmacy champix buy with best prices today in the USA , Elder abuse is a big problem in the United States that has escalated during the COVID-19 pandemic. According to the National Council on Aging, as many as 5 million seniors are... READ MORE
Are your dividends qualified or ordinary?
At some point in almost every investor’s life, they’ll be alerted to the fact that they’re collecting “qualified dividends.” That inevitably prompts the natural question: What are online pharmacy lipitor for sale with best prices today in the USA qualified dividends? Ultimately, the importance of this distinction has to do with how you’re taxed on your dividends. The tax ... READ MORE
Be sure to ‘opt out’ of paperless notices
On July 27, a new anti-consumer Labor Department regulation went into effect. The new rule gives retirement plans the right to quit mailing workers and retirees important disclosures on paper and simply send a notice by text or email, telling them that key pension information is available on a website. Then it is up to workers and retirees to hunt that information down. The Pension... READ MORE
Having good credit can save you money
Even if you don’t plan to borrow a dime, a good credit record is valuable. Think of it like a household fire extinguisher: It’s smart to have a good one even though you have no plans to use it. And your credit can influence your life in ways beyond borrowing. Here’s why good credit is so valuable: Flexibility in a crisis, more options If the coronavirus pandemic has taught us ... READ MORE
