With so many companies leaving the long term care insurance market place, or raising premiums significantly, we are getting more and more questions about whether long term care insurance is really a smart purchase.You may have heard a government statistic quoted, probably by an insurance agent, stating something to the effect that 70% of people over 65 will need some form of long term care.
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We get asked this question all the time, and the answer we give most often might surprise you. In most cases, we suggest not reinvesting dividends. Here’s why: First, if you need income from your investments, it makes sense to generate some of that income from your dividends. After all, you’re going to pay tax on them whether you reinvest them or not. Unless, of course, the dividends are from an investment inside an IRA or 401(k).
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Because there is no required minimum distribution with a Roth IRA, most of the people we talk to about their Roth IRA accounts are thinking the best thing to do is to leave the account alone, ideally, never touching it themselves, and leaving it to their kids or other family members. If you are an heir, it’s much better to inherit…
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Recently I came across a question on an investment website. What should you do if you come into a large sum of money? Should you pay off your mortgage or invest it? As you might expect, the advice ranged from pay the mortgage off to keep the mortgage and invest the money…
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If you are retired or planning to retire in the near future, here are four questions to ask yourself to make sure you experience an Incredible Retirement.
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Several years ago, we got a call from one of our clients at tax time who was not at all happy with their tax bill.Instead of a small refund, as anticipated, they were looking at a $12,358 tax bill. Earlier in the year, following our recommendation, they had sold a mutual fund. We told them there wouldn’t be much of a tax bill from the sale, but now it looked like the mutual fund sale was the culprit triggering that $12,358 tax bill. Ouch!
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