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Month: December 2016

The More of Less: Finding the life you want under everything you own

Financial Planning For Women

During this highly acquisitive time as too many people frantically shop for the holidays, buying gifts that are not really wanted or needed… Joshua Becker’s book The More of Less extolls the value of paring down one’s possessions to simplify life and reduce debt. As quoted from the book’s website http://www.themoreofless.com/: “Most of us know…

What to Consider Before Rolling Over a 401(k)

Financial Planning For Women

“When leaving a job, you could withdraw your retirement-plan assets—paying withdrawal fees if applicable—and spend the money (not usually a smart retirement strategy). Or you could simply leave the assets in the old plan. Or, you could transfer them into the plan at the new job, assuming transfers are allowed. Or you could roll the…

Compound Interest is Critically Important

Financial Planning For Women

Sometimes we need a reminder about the power of compound interest, whether in the beginning years of saving or in the retirement withdrawal years. One specific example: “A retirement-saver who cashes out a 401(k) account with a balance of $5,000 at age 30 would lose more than $52,000 in compounded savings value by age 65,…

Assessing the "Obama Economy"

Financial Planning For Women

Wall Street Journal Marketwatch columnist Brett Arends assessed the progress of U.S. economy under the Obama administration by comparing data from the third quarter of 2008 — just before Obama’s election — with the third quarter of 2016.The Obama Economy Third-quarter 2008 Third-quarter 2016 Verdict Gross domestic product (2009 dollars) $14.892 trillion $16.713 trillion Up…

Reverse Mortgage Lenders Fined for Deceptive Advertising

Financial Planning For Women

“American Advisors Group, Reverse Mortgage Solutions and Aegean Financial are the latest names to face the wrath of the Consumer Financial Protection Bureau due to deceptive advertisements in reverse mortgage lending. Collectively, the bureau ordered the three reverse mortgage lenders to pay a civil penalty of $790,000.”A reverse mortgage allows homeowners 62 and older to…

Student Loan Repayment: 12 Rules

Financial Planning For Women

Kim Blanton provides excellent advice on the Squared Away Blog. 1. If you earn enough to make your payments, start paying. 2. Open your student loan mail.    3. Call your loan servicing company.  But do not call without doing some homework first.   4. The best option for lower-income former students with high debt…

Long Term Care Insurance Industry Problems

Financial Planning For Women

 I’ve advocated that most people would be better off saving the amount of the premium and investing it for retirement expenses rather than buy LTC insurance. The Wall Street Journal reports (12/4/2016) widespread problems in the industry. “Collapse of Long-Term Care Insurer Reflects Deep Industry Woes: Actuarial miscalculations on long-term-care policies by two units of…