Retirees are flocking to university towns, drawn by the intellectual life, health care, culture, and youthful vibes. They are looking to some of the nation's most dynamic college towns for intellectual stimulation, top-shelf medical care, and new homes. According to one Oregon couple, "Why not move to Austin, Texas?", and spend the time enjoying the "cultural stimulation of a university," a better climate, great restaurants, a music scene that is "off the charts," plus no state income tax. In the past, the great magnet for retirees was Florida, but today more of them are looking beyond the Sunshine State. Now, college towns, with their vibrant cultural scenes and intellectual … [Read more...]
Why Long-Term Care Is Important
Even a well-developed investment plan can fail for reasons that have nothing to do with investments. It could fail because the family breadwinner dies prematurely and doesn't have enough life insurance to cover her loved ones. Or it could fail because of an auto accident that results in a large judgment, and there's insufficient liability insurance in the form of an umbrella policy. This is why it's critical to integrate an investment plan into an overall estate, tax, and risk management (insurance) plan. One area of concern that is all-too-often overlooked is the need for long-term care insurance (LTCI). According to a survey by Sun Life Financial (SLF), there's a major disconnect … [Read more...]
Eight Commandments of Building a Strong Financial Foundation
commandments financial foundation 1. Compare your monthly income versus your monthly expenses. Establishing a spending plan can help you get a hold of your financial situation. Live within your means and do not spend more than you make! 2. Pay off credit card balances each month. If you have current credit card debt, attack it each month by paying more than the minimum payment and go for the smallest balance first. When the first card is paid, add that amount to the payments on the second card. Repeat for the next card, and keep going until you've paid them all. 3. Create a "safe and sound" fund. Build a cash reserve of 6 months (or more) of your living expenses. It may be a … [Read more...]
A Primer on Medicare and Medigap Coverage
a primer on medicare and medigap coverageDespite all the public discussion about health care, very few people under the age of 65 understand the basics of Medicare, the federal health program for seniors and certain disabled individuals, or Medigap, the supplemental private coverage many buy to cover treatment that shortfalls what the federal program doesn't pay. Even if you have years before you qualify, why focus on Medicare and Medigap now? Because as big changes happen in our healthcare system, those who understand the programs and products ahead of time will not only be better equipped to plan for their post-retirement healthcare options, but they'll have a better understanding of … [Read more...]
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