As a financial advisor, my firm and I aim to create strategies and financial plans that meet my clients’ needs and desires. Social security planning is one of the services we offer at Larry Heller & Associates and as it turns out, our clients are not the only individuals worried…Read more
The basic principles of reverse mortgage, technically named Home Equity Conversion Mortgage (HECM – pronounced “heck-um”) are actually pretty simple. It’s a home equity loan that lends between 50%-60% of property value (highest value capped at $625,500), on qualified property types, to age-qualified borrowers and provides flexibility to the borrower…Read more
Whether it was your choice to accept this responsibility or not, managing your household’s finances can be easier than you think. Here are MUST DOs that you should implement. Women Managing Household Finances: What to Do First When Facing This New Responsibility By Ronit Rogoszinski, CFP®, Wealth Advisor First, get…Read more
Parents who have a child with special needs face the challenge of deciding how to leave an inheritance to their child. A sensible way of providing an inheritance for a special needs child is to set up a special needs trust. The Benefits of Using a Pooled Trust for a…Read more
As an estate planning and elder law attorney, I strive to find solutions to my clients’ needs and goals. When it comes to elder law issues, my clients typically rely on me for more than traditional legal advice. The Holistic Approach to Estate Planning By Wendy K. Goidel, Esq, Founding…Read more
Changes are coming to the Home Equity Conversion Mortgage (HECM). The changes will effect eligibility and how much of a mortgage the homeowner can qualify for. Change is Inevitable By Renée Richter, President of Cetterpoint Funding Corp. Before March 2, 2015, the borrower did not have to provide any financials.…Read more
Getting divorced isn’t easy. Acrimonious or not, divorce represents a huge change in well, pretty much everything. Newly Divorced and Don't Have Time for Paperwork? A Daily Money Manager Can Help! By Lewis I Knopf, Certified Senior Advisor (CSA)® & Daily Money Manager at LK Daily Money Management There are…Read more
Consider this. You have Medicare coverage. You’ve been in the hospital for three or four days and your doctor determines that you need to go to a rehabilitation facility (also referred to as a Skilled Nursing Facility – SNF) for further treatment. Medicare Will Cover My Stay in a Rehabilitation…Read more
Who hasn’t heard the old cliché, getting old isn’t for sissies. The truth is that as you age, the cliché becomes more and more accurate. Why You May Need an Elder Law Attorney By Lewis I Knopf, Certified Senior Advisor (CSA)® & Daily Money Manager at LK Daily Money Management…Read more
It’s difficult to find someone who likes bill paying and dealing with paperwork and the administrative minutia that are simply part of our day-to-day lives. From seniors to busy executives, from an inability to sort through it all to just being too darn busy to get to it, a Daily…Read more
For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Where Will Your Retirement Money Come From? By Peter M. Smith, CLU, Principal of Wexford Financial Strategies Social Security Social Security is the government-administered retirement income program. Workers become…Read more
No matter how old you are it seems that you are always your parents’ little girl or little boy. You may even be a senior yourself but in some situations the parent-child relationship remains firmly in place. Addressing Difficult Topics with Mom and Dad By Lewis I Knopf, Certified Senior…Read more
According to a 2012 survey by the Insured Retirement Institute, the average person covered by Medicare will have out-of-pocket medical expenses in excess of $4,300 a year (or $8,600 for a couple). The same report found that 63% of baby boomers lack the confidence that they will have enough money…Read more
Pension maximization is a financial planning technique that can provide the most amount of pension income while a retiree is alive and assures the income need of the spouse & family are met. An Education on Pension Maximization By Anthony B. Soldano It is a great retirement and income planning…Read more
The Investment Company Institute reports that there is roughly $6.5 trillion in Individual Retirement Accounts (IRA).1 To help put that in perspective, that’s well over one-third the annual gross domestic product of the U.S.2 What Is a Stretch IRA? via Wexford Financial Strategies If you have a traditional IRA, you…Read more
Often times, the motivation to establish an estate plan centers around the desire to put a Last Will & Testament in place, or create a Trust Agreement. Once an estate plan is finalized, many people do not review their planning documents, even if many years have gone by or their…Read more
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