It probably comes as no surprise that the cost of long-term care services -- including nursing homes, assisted-living facilities, and home-based care -- continues to rise steadily across the country.
A study conducted by the Employee Benefit Research Institute estimated that Americans born between 1948 and 1954 will face a retirement savings shortfall of more than $70,000.1 How can you avoid a similar fate?
Dear Valued Investor:
The recent agreement between Greece and its creditors gave us a weekend off from dramatic headlines and looming deadlines that may threaten the global economy and financial markets. However, that hasn't stopped the media from fretting just the same.
Many investors have taken advantage of pretax contributions to their company's employer-sponsored retirement plan and/or make annual contributions to an IRA. If you participate in a qualified plan program you may be overlooking an important housekeeping issue: beneficiary designations.
While the U.S. stock market, as represented by the S&P 500 Index, has risen a stunning 205.66% as of March 31, 2015, since its low on March 9, 2009, some investors are still reluctant to participate after the near market collapse that accompanied the 2007-2008 financial crisis.1
Discussing the transfer of wealth from parents to children can be uncomfortable for both parties. Yet by introducing children to the wealth management process from a young age, affluent families may be able to reduce family tensions later in life and help ensure that the planning tradition passes intact to future generations.
Americans are a generous people. Many support charitable organizations that enhance their communities and enrich their personal lives. In addition to giving wisely to nonprofit groups, it's important to anticipate financial obligations to family members while you're still of sound mind.
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