When couples shouldn’t retire together
Women who retire when their husbands do may be giving up more wealth than they realize. Married women overall are still in their peak earning years in their 50s and early 60s, while married men’s earnings are on the decline, said economist Nicole Maestas, an associate professor of healthcare policy at Harvard Medical School and the author of a recent study about couples’ income and... READ MORE
Don’t try to time the bull market’s end
The bull market in stocks has lasted almost 10 years. Is it time to take profits and leave the stock market? In recent years, many experts have predicted — incorrectly — that it is time to reinvest somewhere else. And the precipitous drop in mid-October shook some investors’ faith in a continuing bull market. Frankly, I have no idea when this bull market will end, and neither does... READ MORE
Preexisiting condition can affect medigap
Is it true that an insurance company can factor in preexisting conditions when deciding whether to offer you a medigap policy or when setting the premiums? Answer: That’s correct. Many people don’t realize that even though preexisting conditions can’t affect your ability to get other types of health insurance, the rules are different for medigap. You can pick any medigap plan... READ MORE
Medicare surcharges for richer recipients
A big question every year at open enrollment for employer health insurance is how much will the premium rise? That doesn’t change once you’re on Medicare — Part B and Part D premiums typically increase each year. But with Medicare there’s added anxiety: Your income can shoot premiums through the roof. The government sets four Medicare surcharge tiers for 2018, based on a... READ MORE
Nine things to never keep in your wallet
You and your hard-earned savings have finally made it to retirement. Why risk losing anything if your wallet goes missing or is stolen? With every new bank slip that bulges from the seams, your personal information is getting less and less safe. With just your name and Social Security number, identity thieves can open new credit accounts and make costly purchases in your name. If they ... READ MORE
How to find ‘advice-only’ financial advisers
If you want money advice you can trust, your best bet is to hire a fee-only financial planner. The trick is finding a planner who’s willing to be hired for a reasonable fee. Fee-only planners don’t accept commissions or kickbacks from companies whose investments their clients buy. Instead, they are paid solely by client fees. Most use an “assets under management” model, where... READ MORE
How long will bull market continue?
The current bull market for U.S. stocks is now the longest of all time. How much longer might it last? Strong corporate earnings growth and a resilient U.S. economy bolstered by a solid job market and consumer confidence set the stage for the market to continue the upward trajectory it’s been on for more than nine years, experts say. Even rising interest rates are not likely to... READ MORE
How to weather a downturn in retirement
The older the current bull market gets, the more stories you’re likely to read about how this is an awful time to retire. Yes, we’re due for a correction that trims 20 percent or more from stock values. That could be a big problem for people taking withdrawals from investment portfolios, since market losses early in retirement increase the chances of running short of money. The... READ MORE
Savvy shopping advice: buy gently used
Most of us have wasted money on ill-considered purchases or stuff we really couldn’t afford. As we get more financially savvy, that happens less often. But we can still profit from other people’s bad choices. People who prize the latest and greatest, for example, quickly need to upgrade to the next shiny thing. That leaves plenty of lightly used cars and electronics for sale at a... READ MORE
How tax law changes affect you this year
One of the significant changes to the federal tax law for 2018 is the increase in the standard deduction to $24,000 for couples filing jointly, and $12,000 for individuals. This change, and others, will likely encourage many more people to use the standard deduction instead of itemizing. Other changes to the tax code will also impact taxpayer decisions. For example, starting in 2018,... READ MORE
Money 2024
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