“What is the size of the average retirement nest egg? It depends on what you mean by ‘average.’” It’s the question we all wonder about, but not very many of us will come out and ask. A 2019 analysis of more than 30 million retirement accounts by Fidelity Investments found that the average balance in […]

“At one point, Alvarado was withdrawing so much money from Silnitzer’s accounts, she needed a rolling suitcase to take it home, according to the lawsuit.” Two women and two check-cashing companies have been accused of profiting from a scheme that had a 74-year-old man suffering with dementia as their target. The scam, reported in the […]

“When it comes to your money, be careful who you listen to. Taking advice from an uninformed person can cost you dearly.” We call it “the brother-in-law” effect. Most families have a brother-in-law who likes to think he knows everything, and he’s more than happy to share his wealth of knowledge. Trouble is, most of […]

“Chances are you have one or more charitable causes that you support on an annual basis. It is also likely that you have failed to make any provision for charity whatsoever on your death.” Americans are a generous people, giving of our time and resources, through donations and volunteering. However, according to the article “Charitable […]

“Perhaps one of the most difficult conversations you’ll have as an adult child, is talking about end of life preparations with your parent. For many seniors, this conversation is as hard as the one about having to move to a full-time care facility.” An aging parent’s health can fail suddenly, or they can have a fall […]

“If you’ve ever spent time working through your estate plan with a professional, you know how important it is to select and update your beneficiaries. Failing to do so can result in costly mistakes—for you and your loved ones.” Here’s one way to mess up your estate plan: naming beneficiaries not by name, but by […]

“The fantasy of being your own boss and filling your days as you wish is a powerful one. However, if you’re not careful, you could spend those golden years trying to earn more or pinching every penny.” There are just about as many ways to ruin your retirement as there are light bulbs on Broadway […]

“As our children with disabilities grow older, and we ourselves grow older, the future can seem daunting. The future can be overwhelming.” Taking steps to plan for the future when loving parents will not be there to help their disabled child as they age is a hard thing to confront. However, planning in advance for […]

“Sometimes it can be wise (or just pleasurable) to give your assets away, while you’re still alive.” Traditionally, giving assets away while still living was done in an effort to minimize tax liability at death. However, with the federal tax exemption amount at $11.4 million and growing each year with inflation indexing, federal estate taxes […]

“Estate planning sounds like you need to be of nobility and own country estates before it applies to you. However, estate planning only means that you are making a plan for when you pass away or are no longer able to make good decisions for yourself.” If you switch the term “estate” for “stuff,” maybe […]