What to know about working after age 65
Continuing to work past the traditional retirement age gives many the opportunity to add more money to their nest egg — and to delay Social Security, which will bump up their eventual benefits check. In May, 21.9% of Americans ages 65 and older were working, compared with 19.5% in May 2020, according to a study released in June by MagnifyMoney, which analyzed U.S. Census Bureau... READ MORE
Situations where you might need a trust
Some simple estate planning techniques that you can use to avoid probate include adding beneficiaries to your retirement accounts and adding transfer-on-death (TOD) designations to after-tax accounts. When you pass away, these assets will avoid probate and can be transferred directly to the listed beneficiary. Once the beneficiary receives the proceeds, they can do whatever they like... READ MORE
Goodwill is moving some thrifting online
Goodwill is expanding its online presence, promising high-tech features from digitized receipts to personalized alerts. Last month, the 120-year-old Maryland-based nonprofit organization launched GoodwillFinds.com — a shopping venture that is making roughly 100,000 donated items available for purchase online. It’s expanding Goodwill’s internet presence that, until now, had been... READ MORE
Best ways to invest in the current market
Investors in both the stock and the bond markets are understandably nervous. The Federal Reserve has indicated that, until inflation is under control, it will continue to increase interest rates. As long as that happens, it is likely that both bond prices and stock prices will remain under pressure and may continue to fall in value. Most investors are not sure what action, if any, is... READ MORE
Five ways to feel rich (even if you aren’t)
In some ways, feeling “rich” is less about how many zeroes you have in your bank account and more about knowing how to use them to get what you want out of life. For author and certified financial planner Tom Corley, feeling rich comes from having an Irish pub-style structure in his back yard in New Jersey that allows him to invite friends over for outdoor drinks. For Liz... READ MORE
Steps to take after a loved one passes
The death of a loved one is obviously a difficult event to endure. It can become all-consuming, often at the expense of other day-to-day matters that need to be addressed. With the death of a loved one, there are so many phone calls that need to be made and letters that need to be sent. Unfortunately, sometimes we simply get overwhelmed with everything that needs to get handled, and we... READ MORE
How to avoid back and neck pain at work
Dear Mayo Clinic: My work requires me to be on a computer much of the day, and over the past few months, I’ve noticed more frequent headaches, and pain in my lower back and neck. Could my workspace be responsible? If so, how can I fix it? A: Sitting and working at a desk — perhaps a makeshift one at home — is one of the most common causes of this type of pain. First take... READ MORE
New rules improve college-savings plans
Did you know that Americans owe nearly $1.75 trillion in student loan debt? This staggering number is spread out among 48 million borrowers. But as a grandparent, you can help your children and grandchildren mitigate this by contributing to a 529 plan. A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. According to a recent survey by... READ MORE
How to pick good trustees and executors
In preparing estate-planning documents, one of the biggest challenges that people encounter is deciding who to appoint as their trustees, powers of attorney, healthcare surrogates and executors. Here are some practical tips to help guide you: 1. Give preference to those who have the most time to devote and live nearby. Lots of my clients have very accomplished children who are... READ MORE
How to take advantage of a down market
Nobody likes a down stock market — or do they? Almost every conversation I have had with clients this year included some amount of fear over where the markets are and where they are headed. The concerns range from losing a few more percentage points (possible) to losing 100% of their money (absurd). If an investor in a moderate portfolio lost all their money because the stock market ... READ MORE
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