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
Things to teach grandkids about money
What are the most important lessons you can teach your children or grandchildren about money? How we act later in life often can be directly correlated with what we learned earlier in our youth. Here are a handful of things to teach the young ones you love: The value of money We probably all heard the line “Money doesn’t grow on trees” over and over when we grew up. But kids need ... READ MORE
Planning to retire in the next 3-5 years?
It may take decades over the course of a career to save for retirement, but there is a small and defined window of time leading up to one’s golden years that is exceptionally critical when it comes to planning. I often work with my clients three to five years ahead of their anticipated retirement to fine-tune their plan, reviewing everything from financial expectations, probable... READ MORE
Steps to lower prescription drug costs
If you use Part D of Medicare to help cover your prescription costs, Medicare suggests five ways to lower your costs. — Switch to a generic prescription. If you’re using a name-brand prescription that is expensive — the costs of many have increased recently — ask your doctor if there is a generic alternative. You can also determine whether using a mail-order pharmacy will... READ MORE
Post office rates rise for ‘holidays’ again
For the third year in a row, the United States Postal Service has announced a rate increase for what they call “peak holiday season.” If you think that means shipping is going to cost more after, say, Black Friday, you’re wrong: Surge pricing starts Oct. 2 and runs through Jan. 22, 2023. The end date is a new twist: In 2020 and 2021, these surcharges ended Dec. 26. As the... READ MORE
A tax-smart way to tap retirement funds
You work hard for decades and save diligently for retirement, but unfortunately, you can’t retire from paying taxes. An important part of enjoying a fruitful retirement is understanding how taxes apply to different types of income and planning accordingly. Having sizable amounts of money in various accounts is wonderful, but taxes can eat away at them quickly if you don’t have a... READ MORE
Move to digital coupons costs shoppers
At a time when consumers are especially focused on saving money at the supermarket, some shoppers — those who are tech-challenged or digitally unconnected — are unable to access “digital only” sale prices advertised in weekly store circulars. For decades, supermarkets have offered lower prices on certain items to members of their loyalty rewards programs, which require a phone... READ MORE
