Candidates on Social Security, Medicare
Unless Congress acts, Social Security will deplete its $2.9 trillion reserve fund by 2035, which means the program would be able to pay only about 79% of promised benefits. Medicare’s finances are even more precarious. Noting that seniors are a large voting constituency, both President Trump and Democratic presidential candidate Joe Biden have resolved to protect Medicare and Social... READ MORE
Beirut explosion: Avoid charity scams
After any disaster, many Americans open their hearts and wallets. During the pandemic alone, giving reached $10.2 billion by early May, with $6 billion of that coming from the U.S., according to the Chronicle of Philanthropy online pharmacy bactroban buy with best prices today in the USA . But scammers often prey on this generosity. For instance, if you’re planning to donate in the... READ MORE
Probate workarounds may aid your heirs
A reader recently reached out after his elderly mother died, asking how soon he could distribute the $10,000 she had earmarked in her will for each of her two grandchildren. Because she lived in California, I had to break the bad news: He won’t be able to hand over the money any time soon. Probate is the court process to distribute someone’s estate after their death, even if there ... READ MORE
Preferred stocks are worth a closer look
Many investors don’t fully understand the advantages and disadvantages of buying preferred stocks. Preferred stock is really a hybrid security more similar to a bond than to a common stock. The primary advantage is consistent high income with less downside risk than common stocks. The primary disadvantage is that when interest rates increase significantly, the value of preferred stocks ... READ MORE
Where to find financial help in hard times
Dear Savvy Senior, Are there any financial assistance programs you can refer me to? The coronavirus pandemic has cost me my part-time retirement job and has shrunk my measly IRA account. Needy Retiree Dear Needy, Absolutely! In addition to the $1,200 federal coronavirus stimulus check that was distributed in April and May, there are many other financial-assistance programs (both... READ MORE
How to make better financial decisions
As the coronavirus pandemic continues to challenge every aspect of our lives — work, family, health and money — it is imperative we all take a gut check on any of our portfolio exposed to the wild rides of the financial markets. A recap is important: According to JP Morgan’s Q2 2020 Guide to the Markets, the S&P 500 index hit its last historical high on Feb. 19, 2020. It... READ MORE
Finding the upside of a downside market
The year so far has presented a challenging time for investors. However, periods of market dislocation also can provide opportunities on the financial planning side to create a better long-term position. Here are five things you can do right now to prepare for the future financially and take advantage of lower equity prices: Create a personal balance sheet and income statement Many of... READ MORE
A big chance to change spending habits
In conversations with clients, colleagues and friends, there’s one habit many seem to struggle with: spending money. No matter how much we earn, the amount we spend often impacts more of a person’s future financial success than their income, savings or investment returns. Try as we might, cutting back our spending is never easy. Until now. The current pandemic has impacted all of us. ... READ MORE
Bonds still offer pockets of opportunity
Bonds survived a brutal financial upheaval, reinforcing my confidence that positive returns will extend through the remainder of this strange year, albeit with massive help from the Federal Reserve. online pharmacy purchase cipro no prescription with best prices today in the USA There will be more bad days and shrill headlines, and you can expect a bulge in corporate debt downgrades to... READ MORE
Is your target date fund letting you down?
Target date investments are supposed to be an easier way to invest, and they’re a popular choice in 401(k) plans. But the recent market downturn showed that some target date strategies suffered much bigger losses than others, especially for investors nearing retirement. Target date investments did protect near-retirees from the full force of the sell-off. While U.S. stocks overall... READ MORE
