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Month: May 2019

Retirees Regret Claiming Social Security Early

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Many Retirees Wish They Had Delayed Taking Social Security Benefits “MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a…

Asset Based Long Term Care Insurance

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A new development in the long term care insurance (LTCI) industry is “asset-based” policies  that link long term care (LTC) coverage with a whole life insurance policy or a deferred annuity. Huge premium increases in the early years of LTCI often caused insured to drop their policies because they simply could not afford the much…

Don’t Delay Investing for Retirement!

Financial Planning For Women

It’s so easy to justify procrastinating retirement savings… once I pay off the mortgage, when I finish helping my kids pay for post-secondary education, when I get a raise…“Most retirement calculators are optimistic to a fault. They assume our incomes will rise throughout our working lives, or at least stay roughly the same.In reality, our…

Retire Early? Work Forever? Both Are Wildly Unrealistic

Financial Planning For Women

Writing for Barron’s, Sarah Green Carmichael interviewed Teresa Ghildarducci, the Irene and Bernard L. Schwartz Chair in economic policy analysis in the economics department at the New School, and the author of How to Retire with Enough Money: And How to Know What Enough Is. Regarding the FIRE (financial independence retire early) movement, Ghildarducci said: …

Single Premium Immediate Annuity vs. "Safe Withdrawal" Strategy

Financial Planning For Women

“Economist and mathematician Michael Edesess compares a “safe withdrawal” strategy from a 60/40 stock-and-bond retirement portfolio with a single premium immediate annuity of the same value. He found the SPIA offers retirees a bigger monthly payout and decreases their chances of running out of money.” Author/researcher Michael Edesess explains:“A safe withdrawal rate is the percentage…

Consumer Financial Protection Bureau head more interested in helping corporations than protecting consumers

Financial Planning For Women

“Kathy Kraninger gave her first speech as director of the Consumer Financial Protection Bureau (CFPB) at the Bipartisan Policy Center in Washington, D.C., in April. We were alarmed to hear Kraninger voice an overall vision for the CFPB that appeared antithetical to its core function of “enforcing federal consumer financial laws.” Kraninger stated that she…

Another example of the value of government regulation: The Card Act of 2009

Financial Planning For Women

Beside the obvious everyday advantages of vehicle safety regulations like requiring seat belts and air bags in vehicles, many federal laws protect consumer privacy and financial transactions. “May 22 is the 10th anniversary of the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009. The game-changing CARD Act, which was passed by Congress during…