Reader question: After 37 years in sales I plan to retire in 6 months at age 63. I will live off of my severance from a previous job for two years until I reach 65 at which time I’ll start Social Security of about $2,500 per month. My husband is age 70 and has a pension & Social […]
Should I Annuitize My Retirement?
Just Say ‘YES’ to Free Financial Advice
In these times of economic chaos, people are not sure where to turn for help in navigating the financial headwinds. Well, help is just around the corner and it’s free! All across the nation, professional financial planners are celebrating Financial Planning Week by offering free advice to anyone seeking answers to their most perplexing questions. In addition, […]
Secret Strategy for Roth IRAs
Reader question: This reader had two questions: 1. Question: When you have to start taking annual amounts from your conventional IRA at age 70 ½, can you put that amount in your Roth IRA? Answer: No later than April 1st of the year following the year you turn age 70 ½, you must begin taking Required Minimum […]
How to Avoid the Costs, Time and Aggravation of Probate
Reader question: I am very anxious to learn if a Living Trust can be used in Alabama. If possible, I’d like to use this strategy for leaving my assets to my two children when I pass on. I have been told it is a way to also avoid probate. Can you help? M.C. Answer: I believe what you are referring […]
I’m Mad as Heck….and Here’s What I’m Going to Do About It!
I’m mad. Met Life recently announced a 58% increase in premiums on my long-term care insurance. 58%! Genworth Financial, John Hancock and other companies have had similar premium increases while other companies have simply quit writing these policies altogether. These types of policies typically give the insurance company the right to raise premiums, not on an individual policyholder, […]
Charity Swindlers- Don’t You Be a Victim!
CNN’s Anderson Cooper 360 television program recently aired an investigative report on charities that take in millions and pay out pennies to the intended beneficiaries. So where do the millions end up? Unfortunately the bulk of the money is going to the organizers and, in many cases, to the actual fund raisers…those annoying people who […]
Four Strategies for Paying for College
Reader Question: My husband and I need some advice regarding paying college tuition for our last two children and the expected engagement and wedding of our oldest daughter. Here are some of the specifics. We have five children, three have graduated from college and one of our two daughters is married. We have student loans that we […]
Governor Bentley Offers Taxpayers a Free Lunch
“There’s no such thing as a free lunch”, or so the saying goes. But our Governor along with our state legislators have done just that for taxpayers with the passage of the Alabama Accountability Act of 2013. Here’s the deal: You can receive a State of Alabama income tax credit of up to half of your […]
Three Steps to a Solid Financial Future for Nearlyweds
Whether you are a nearlywed or a newlywed, building a solid financial future will be an important step towards building a marriage that will last a lifetime. In my thirty-plus years of working with families on their personal finances, when a marriage fails, money is more often than not a contributor. By setting good habits now, you’ll […]
Are Your Bonds Safe?
Two forces are coming together to make folks who own bonds or bond funds wonder just how safe is their money. The first most notable is the $18 billion municipal bond default and bankruptcy by the city of Detroit. The second is the rising interest rates over the last few months that have negatively affected bond […]