“Walk-in tubs, hospital beds and wheelchair ramps are among the many home modifications and devices keeping seniors safe. They don’t come cheap, but government programs such as Medicare and Medicaid can defray the cost.” “Medicare is extremely strict about what it covers, but seniors who show medical necessity qualify for up to 80% coverage. Seniors…
Immediate fixed annuities: create your own pension for guaranteed lifetime income
Immediate fixed annuities are a way to create your own pension from your 401(k) or IRA retirement funds. Immediate (not deferred) fixed (not variable) annuities are plain-vanilla products that provide a predetermined income stream that starts paying out right away.While typically sold but insurance salespeople who earn a commission, annuities are also available direct from…
Thinking about hiring a financial advisor? Considering switching advisors?
Here are some links to articles to help you find such assistance. Thanks to Michelle Singletary, personal finance writer for The Washington Post. What You Need to Know About Fee-Only Financial Advisors Fee-Only Financial Planner vs. Fee-Based: What’s the Difference? Financial adviser, financial planner or robo-advisor? Here’s how to find the right help to manage…
Remote online notarization (RON)
Besides the Covid factor, RON (also called Remote Electronic Notarization) is useful for convenience and safety, as well as when you are in a different state from the notary. Having just helped a relative settle an estate, RON could have saved us some trips to offices. Thanks to the Consumer Financial Protection Bureau for this…
Few go back to work when unemployment benefits are cut off early
Despite the rhetoric, few Americans returned to work when red states cut back unemployment benefits early. Instead, consumer spending dropped, hurting the economies of those states. Half the states (26), all with Republican governors except one, have ceased expanded unemployment benefits during Covid. “Several recent studies, however, have concluded that the extra payments have played…
What to Do When a Loved One Dies
“Settling a deceased family member’s affairs is not a one-person task. You’ll need the help of others, ranging from professionals like lawyers or CPAs, who can advise you on financial matters, to a network of friends and relatives, to whom you can delegate tasks or lean on for emotional support.” Leanne Potts, writing for AARP,…
Need a passport or need to renew?
Plan at least 6 months ahead! Yes, the backlog is long so don’t book your trip unless your passport is good for at least 6 months. Check the expiration date and renew early. Source: Financial Planning for Women
AAA rating of the United States government bonds at risk due to politics
“Fitch Ratings, a credit rating company, is considering downgrading the AAA rating of the United States government bonds. The problem is not the economy. In fact, the Fitch Ratings report praises the economy, saying it “has recovered much more rapidly than expected, helped by policy stimulus and the roll-out of the vaccination program, which has…
Hospitals Often Bill Uninsured the Highest Prices
Going without health insurance is NOT an option! Insurers negotiate lower rates for same treatment, new data show, with the uninsured charging up to three times as much as patients with insurance. No wonder we have the highest bankruptcy rates in the world. My research at Utah State University on bankruptcy in Utah and that…
Understanding the different parts of Medicare
Three Key Medicare Decisions “While not an overly complicated benefit, initially signing up for Medicare can be an overwhelming and anxiety-inducing process” according to John S. Traynor | Jun 16, 2021 quoting from his article: https://www.wealthmanagement.com/retirement-planning/three-key-medicare-decisions Part A (hospital coverage) covers things like inpatient hospital stays, some home health care, skilled nursing facility care and hospice; requires…