Best places to find a financial adviser
Last month, we wrote about “How to select the right financial adviser.” This month, we complete that article with some good places to look for one: Certified Financial Planner Board (cfp.net). The CFP Board lists vetted advisers — you can sort by criteria such as location, gender, etc. Everyone on this list will have that CFP designation, which means regular training and updated... READ MORE
How to create your retirement glide path
In investing terms, a “glide path” describes how a mix of investments changes over time. Typically, the mix gets more conservative — with fewer stocks and more bonds, for example — as the investor approaches a goal such as retirement. You also can create a glide path into retirement by making gradual changes in your working and personal life in the months or years before you plan ... READ MORE
Today’s best conservative investments
Many readers have indicated they are concerned about future returns on both stock and bond investments. Returns for both markets overall were poor in 2022, and many analysts are not enthusiastic about returns in 2023. What are the alternatives for conservative investments this year? Because the Federal Reserve is likely to continue raising interest rates in 2023, albeit at a more... READ MORE
Ways to make extra money in retirement
More than 1 in 4 retirees say they’re spending more than they can afford, according to an October 2022 survey by the Employee Benefit Research Institute. With inflation at 6.5% in December, it’s not surprising that savings aren’t going as far as they used to. But there are ways to bring in extra income without taking on a full-time job. Some part-time gigs — such as tutoring, pet ... READ MORE
How to find and claim forgotten assets
Dear Savvy Senior, A while back, I read an article about some online tools that can help people search for lost or forgotten money left behind by their deceased relatives, but I’ve misplaced it. Can you help me with this? My mom, who passed away in December, was always bad about keeping up with her money, so I’m wondering if there was anything she left behind. —Searching... READ MORE
Life insurance has advantages over IRAs
Although Ed Slott (IRAhelp.com) is an expert in IRAs and other retirement plans, he consistently points out that permanent (that is, whole or universal) life insurance has significant advantages for long-term retirement planning. The ramifications of the SECURE Act of 2019 only magnify these advantages in contrast to investing through taxable retirement accounts. Here are some aspects of ... READ MORE
How to select the right financial adviser
Figuring out what to look for in (and where to look for) a financial adviser can feel overwhelming, whether you are looking for the first time or interested in changing who you work with. When evaluating the top factors to consider, people commonly point to someone who gets good investment returns or who has a lot of credentials or experience. These are indeed important aspects, but... READ MORE
Veterans’ benefits
Most often when I write about benefits, they apply to the general public. Today I’m going to write about veterans’ benefits, which are often structured quite differently from other benefits such as Social Security. Survivor benefits To receive benefits as a surviving spouse, you must have been married to the veteran for at least one year and married at the time of death. If you are an ... READ MORE
How much should an average funeral cost?
Dear Savvy Senior, How much does a typical funeral and body burial cost today? My wife and I are interested in prearranging our funerals but would like to have a cost idea before going in so we can plan and budget appropriately. —Planning Ahead Dear Planning, It definitely pays to know what charges to expect when pre-planning a funeral. Most people don’t have a clue, and can... READ MORE
Use the right credit card for every need
There’s no such thing as a universal best credit card. The right card for you depends on your lifestyle, your goals and your credit history. For instance, if you’re looking for travel rewards but your friend is building credit, the best card for each of you will differ greatly. And while there may not be one best card for you — the average American has about three cards, according... READ MORE
