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Good to Know

4 Ways to Afford Long-Term Care Insurance

How can the average American afford Long-Term Care insurance (LTCi)? Before we answer that question, let’s refresh our memory on the strategic use of LTCi. In our previous blog, we identified the following strategies to manage long-term care costs: Self-insure If you can comfortably afford catastrophic (e.g., dementia) long-term care costs of as much as…

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IRS GIVES WIN TO INVESTMENT ADVISORY FEES IN A NONQUALIFIED ANNUITY

Good to Know We will take a very short break from our Social Security blog series with late-breaking news – potentially good news for advisors who charge only investment advisory fees. First, we’ll frame the issue then present the potentially good news. But before we frame the issue, let’s unpack the word “nonqualified” as it…

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When Should You Claim Social Security Retirement Benefits?

Good to Know When will our universe stop expanding? What age should you claim Social Security Retirement benefits? For too many of us, these two questions are equally confounding. The author cannot help you with astronomical riddles but can illuminate some of the key factors that should inform your claiming age decision. This is the…

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Good to Know: Who Needs Long-Term Care Insurance?

What are the odds you’ll need long-term care? Long-term care is a distinct possibility for millions of Americans. Today’s baby-boomers and their parents are living longer, but longer life expectancies are often accompanied by a need for extended long-term care.  According to the American Society on Aging, 70% of Americans 65 and older will need…

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Good to Know: 4 Dangerous Gaps in Long-Term Disability Coverage

Saying “I have a long-term disability policy” is very much like saying “I have a car.”  There’s a big difference between a new Mercedes S-Class and a 40-year old AMC Concord (for any Millennials reading this, the Concord was manufactured just after the extinction of the dinosaurs by a now-defunct automaker). Here’s my point –…

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Does Car Insurance Follow the Car or the Driver?

Does Personal Auto Policy (PAP) insurance follow the car or the driver? The answer is… it depends! Let’s face it. This is can be a confusing topic. It’s no wonder there’s confusion – an online search of this simple question returns dramatically different opinions; some are correct, some partially correct, and some are incorrect.  But even the…

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