This is the second of two articles about some of Donald Trump’s campaign promises, which, if enacted, could significantly impact retirees or near-retirees. Interest rates Promises PolitiFact: ”Trump said ‘we’re going to cap’ credit card interest rates ‘at around 10%. We can’t let them make 25% and 30%.’ When he made the pledge in September … Read more
Yes, they’re back, and oh, the joys of turning on the TV and being bombarded by Medicare Advantage Plan commercials. It is, after all, the middle of Medicare’s annual “open enrollment” period. And these commercials, with their aging spokespeople, seem to come back around like clockwork. Meet Martha In my opinion, one of the most … Read more
There are two prevalent assumptions about the cost of living in retirement. One is that most retirees can live on 70% to 90% of their pre-retirement income. Another is that that percentage will decrease (net of inflation) as we grow older. Both offer some comfort when we look at the cost of a long retirement. … Read more
In my last article, I discussed using a “regret minimization” strategy to help with making critical retirement planning decisions. I illustrated how you might apply it to your Social Security claiming and retirement account investing choices. Deciding when to claim your Social Security benefits may be the most important decision you’ll make when you choose to … Read more
I decided to interrupt my series on “the Bucket Strategy” to look at something that concerns me: potentially misleading Medicare ads. Every time I see them on TV, I complain to my wife, so I thought I’d get it “off my chest” by writing an article about them. I have to confess that this kind … Read more
I am very excited to announce that my new book, The Minister’s Retirement, has been released and is now available on Amazon in paperback and Kindle formats. The following is from the introductory material in the book: “This is a book about planning for retirement targeted specifically at ministers. Granted, most ministers I know would … Read more
This article is the fourth and final one in a series about long-term care (LTC). In the last article, I alluded to long-term care insurance (LTCI) as one of the ways to fund long-term care. In this article, we’ll look at LTCI in more detail—what it covers, what it costs, and whether you should buy … Read more
The potential need for an extended time in long-term care (LTC) is a crucial retirement stewardship concern because of its significant financial implications. We have looked at the types of care, how Medicare and Medicaid, and some other programs fit, and in this third article in a 4-part series, we will look at LTC costs … Read more
This article is the second in a 4-part series about long-term care. In the first, we looked at the various types of care, why and when they might be needed, and how to decide. In this article, we’ll discuss the part that Medicare and, most importantly, Medicaid play in the long-term care (LTC) planning and … Read more
