Bringing children into the world is an extremely rewarding prospect, but it’s also an expensive one. As such, you’d think parents would struggle to retain money after introducing kids into the mix. But actually, 34% of parents say they started investing more money after having children, according to data from Merrill Lynch and Age Wave.
If you’re married or divorced and planning for retirement, you should know that you may qualify for Social Security spousal benefits that can significantly increase your retirement income. However, there are some rules surrounding who can collect spousal benefits and how much money you can receive in spousal benefits. Read on to learn more about
Medicare costs change each year, so if you’re 65 or older, it’s important to understand and review your benefits for the upcoming year. Some new rules affect the cost of prescription drugs covered under Part D (Medicare’s prescription drug benefit) and change the times when you can revise your Medicare health and drug coverage. Medicare
Not long ago, I was invited to speak—virtually—to an audience that you wouldn’t normally think of when you think about aging: young professionals. And yet this group, just beginning the arc of their careers, turns out to be incredibly thoughtful and curious about what awaits them at the end of their careers, as well as
Many people I meet with ask me if they’ll still need life insurance after they retire. Their children are grown and have good jobs. They have put together a reasonably solid income plan with Social Security, pensions and annuities supplemented by investments and retirement accounts. Their surviving spouse will have plenty of money if they
The estate planning market was originally conceived to handle the distribution of assets (mainly real estate) among the descendants of deceased rich people. There were two objectives to this exercise. Firstly, estate planning helped structure the distribution of wealth among the deceased’s spouse, children and other friends and relatives. The second objective was tax planning.