Series on Long-Term Care
•
Facing the Long-Term (Care) Nightmare: Part 1
•
Don’t Rely On Medicaid For
Long-Term Care: Part 2
•
Bridging the Long-Term Care Gap:
Part 3
•
Understanding Long Term Care
Insurance: Part 4
|
|
Guarding Your Wealth for Seniors
Today's News and
Information for Senior Citizens on
Money Management, Retirement Planning, Estate Planning, Insurance
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Guarding Your Wealth for Senior Citizens
Try Defying Conventional Wisdom When Investing
During Retirement
The bottom line is that there are ways to invest that
can allow you to meet your needs
By Jeffrey D. Voudrie, CFP
Sept.
3, 2008 - Relying on conventional financial services advice may result
in working years longer or living with less during retirement. They say
that you should only take 4% a year off of your investments. They also
say you should increase the amount you have in ‘safe’ investments like
bonds. But I believe they are wrong.
Read more...
Think of Investing in Stock Market as Game of Tug of
War
Buy what’s going up and sell what’s going down - If
it were only that easy
Aug. 22, 2008 - A novice investor recently asked
me, “Why don’t you just buy what’s going up and sell what’s going down?”
If it were only that easy, we’d all be millionaires! Read on to learn a
simple analogy that seeks to explain the underlying forces that move the
markets.
Read more...
When To Start Receiving Social Security Benefits -
Is Bird in Hand Worth Two in Bush?
If
you have enough birds in the freezer to feed you for several months it
might be worth taking the chance
Aug. 13, 2008 - Conventional wisdom and many
financial planners say that you should start taking Social Security
benefits as soon as you are eligible. For many, that is at age 62. This
is another time that conventional wisdom may be wrong. Read on to see
whether you should delay receiving those benefits.
Read more...
Going ‘Green’ Part 2: What Should You Do to Protect
Your Nest Egg?
The issue in these turbulent times isn’t just the
price of oil
July
10, 2008 - As the summer heats up, so does the rhetoric about the energy
crisis. The presidential candidates are taking political shots at each
other’s solutions to the problems, while everyone else in Washington is
playing the blame game. Even OPEC is washing their hands of the matter,
blaming ‘speculators’ for the current crisis.
Read
more...
It’s
Time for Investors to Go Green with Their Portfolio
Positioning your portfolio so that you add enough ‘green’
to your bottom line
June
23, 2008 - Everyone is feeling the pinch at the pump. And just about
everywhere else it seems. No matter where you look: the grocery store,
utility bills or airline tickets; prices are going up. We all hope these
increases are just a temporary ‘road bump’ on the financial landscape, but
unfortunately, I believe we’ll be experiencing the effects of the energy
crisis for years to come.
Read
more...
Reader Wants Investment Advisor That Talks Straight
with No Fluff
Beware of financial sales people pushing pre-packaged
solutions
June 6, 2008 - I recently received a question from
a reader in Florida who is taking an early retirement. Like many
investors, he was confused after meeting with a couple advisors. My
advice to him might save you from making a wrong decision, too.
Read more...
Financial Advisors’ Commissions Revealed and You May
Find Them Shocking
There is a conflict of interest when these
details aren’t disclosed
June 5, 2008 - Most investors have absolutely no
idea how much money advisors earn from their investments. There’s
certainly nothing wrong with advisors being compensated for their work.
The problem arises when there is a lack of transparency in the
advisor/client relationship. You should know exactly how much you are
paying for the investments and services you receive. Only then can you
make an informed decision on whether or not you are receiving a good
value for your money.
Read
more...
Where’s the Beef Part Two – Ask Yourself the Right
Questions
…You are much more likely to get the results you
desire.
June 2, 2008 - We all remember those old television
commercials where a little old lady disappointed with the puny hamburger
she just purchased shouts out, “Where’s the beef?” In last week’s
article, we discussed how investors often pay top dollar for below
average results. How can you be sure that you are receiving the service
you are paying for?
Read more...
Where’s The Beef? A Good Question for Financial
Advisors
Don’t pay ‘prime rib’ prices for ‘cube steak’ service
from financial advisors
May
19, 2008 - There’s nothing better than a hot and juicy steak, especially
one from your own grill. But can you imagine going to the grocery
store to pick up a few prime ribs, only to get home and realize you
ended up with cube steak instead? Talk about injustice! Of course,
this doesn’t happen to most of us, because grocery stores package their
meat in clear plastic wrap, so we can see exactly what we’re buying. If
only we bought financial services the same way.
Read more...
Do You Need A Trust or Foundation to Control Your
Assets?
They are not just for the rich and famous anymore
May 12, 2008 - Trusts and private foundations
aren’t just for the rich and famous like Warren Buffet or Bill Gates.
Nowadays, even people of modest means are realizing the great benefits
trust and foundations can provide. Read on to see if you can, too.
Read more...
Why Investors Lose Money on Wall Street: Fear and
Greed Cycle
Every time one person is making a dollar on the stock
market, someone else is losing one
May
5, 2008 - Investors fear losing money, but they are almost as
afraid of losing out - of not making money when they could
have. This is referred to as the fear and greed cycle and is one reason
the Wall Street pros make money while the individual investor often
loses it.
Read more...
The Wolf Among the Lambs - I Warned You About
Indexed Annuities
'I wouldn’t recommend them to anybody' - Alabama
Securities Commissioner
April 23, 2008 - For years I’ve been warning
seniors about the dangers of equity indexed annuities. And I’ve taken
quite a bit of heat for it from those in the insurance industry. While
many agents and some readers have discounted my views, the uproar
against equity indexed annuities and the tactics used to sell them is
growing louder and louder. And now the national media has entered the
fray.
Read more...
Three Financial Risks You Must Avoid – Control,
Access and Flexibility
These risks are difficult to place a dollar value
on…until you are affected
April
18, 2008 - There are many financial risks that investors want to protect
themselves from: inflation risk, interest rate risk, market risk, and
more. But there are three risks that most investors don’t take into
account - and I believe not doing so can quickly get them into trouble.
I call them control risk, access risk and flexibility risk. Let me
explain.
Read more...
Booming
Housing Market Was Really a House of Cards: Part 2
You can’t expect the one selling you a product to watch
out for your best interests
April
4, 2008 - Last week, I talked about how the current credit crises evolved.
This crisis is the result of mistakes made by the homeowner, the mortgage
company, the investment banks and the rating agencies. This week, you’ll see
what caused the House of Cards to fall and will learn how this example can
keep you from making a financial mistake.
Read more...
Booming Housing Market Was Really a House of Cards:
Part 1
First part of a simplified explanation of the credit
crisis that has overtaken our economy
March 31, 2008 - The current credit crisis has
impacted multiple sectors of our financial economy. Home foreclosures
are on the rise. Credit-worthy consumers struggle to secure mortgages.
Investment banks are brought to their knees. Foreign and domestic stock
markets experience gut-wrenching volatility. The Federal Reserve is
forced to take historical steps to maintain liquidity. And the list goes
on.
Read more...
Financial Advisor Gets Sticker Shock Choosing a Service Professional
Trust your ‘red flag’ indicator, don’t move quickly
and do extensive research
March 25, 2008 - It can be difficult for someone in
the financial services industry to know how the investor feels -
especially when first choosing which advisor to work with. I recently
had an experience that put me in your shoes for a change.
Read
more...
An Ounce of Prevention Worth a Pound of Cure When it
Comes to LTC Insurance
A real life story to motivate procrastinators on
long-term care
March 14, 2008 - We’ve all heard the old adage that
an ounce of prevention is worth a pound of cure. This applies to many
areas of life, but perhaps none better than in the area of long term
care.
Read
more, plus links to series on LTC insurance...
Many Senior Citizens Worry About
Leaving
Something for the Kids
Biggest fear is spending all of that money on
assisted living and/or nursing home
March 7, 2008 - One of the biggest issues seniors
face as they get older is how to preserve an inheritance for their
children. Their biggest fear is spending all of that money on assisted
living and/or nursing home care. As each family situation is different,
so is each solution. Perhaps you can learn something from the experience
of one of my clients.
Read
more...
Pulling Back the Curtain on Why Reverse Mortgages
are So Heavily Marketed
Don’t blindly fall for the reverse mortgage sales
pitch
Feb.
28, 2008 - Last week’s article on reverse mortgages generated
a very interesting response from one reader. Unfortunately, due to his
choice of vocabulary, I can’t print his response here. Suffice it to say
that this advisor doesn’t want me saying anything negative about his
chief source of revenue. This week I’d like to ‘pull back the curtain’
on the real reason reverse mortgages have become so heavily marketed and
what you need to do as a consumer to protect yourself.
Read more...
Should Senior
Citizens Use Reverse Mortgages? Columnist Has An Answer
Every month you go further and further into debt and
have less wealth
Feb. 22, 2008 - Some of the most popular products
being pitched to seniors today are reverse mortgages. Everywhere you
turn there are free seminars, free reports and free DVDs, all touting
the amazing benefits these loans offer. Are reverse mortgages the
answer to seniors’ prayers, or are they too good to be true?
Read
more...
How to Chart a Course for Investment in Emerging
Markets
How you can take advantage of this opportunity
without losing your shirt
Feb. 15, 2008 - Investors dissatisfied with
domestic returns have been seeking greater growth in foreign markets.
As noted in last week’s article, the growth of emerging markets is not a
short-term fad, but a long-term trend that will affect global markets
for years to come. The question then, is how you can take advantage of
this opportunity without losing your shirt.
Read on to find out.
Can Emerging Market Growth Continue to Reshape the
Global Economy?
‘We've only begun to see the impact they will have
in the financial markets’
Feb. 11, 2008 - We've all heard about the amazing
growth taking place in developing countries and how the global economy
will never be the same again. But countries like China, India and
Vietnam seem so far away. It can be hard to understand how those
marketplaces can affect the individual investor here in the U.S.A. After
my recent trip to Cambodia, I'm here to tell you that emerging markets
aren't some short-lived fad. We've only begun to see the impact they
will have in the financial markets.
Read
more...
Senior Citizens and Adult Children Often Ask if They
Owe Taxes on a Gift
With a gift comes the cost basis of the person giving
the gift
Feb.
4, 2008 - As a Certified Financial Planner, I’m often asked about issues
regarding inheritance, gifting and the resulting taxes. Here’s a classic
example of just how complicated these situations can be, using a
question from a reader in Michigan we’ll call ‘Bob’.
Read
more...
When Should You Start Receiving Social Security
Benefits?
A bird in the hand is better than two in the bush,
right?
Jan. 29, 2008 - Conventional wisdom and many
financial planners say that you should start taking Social Security
benefits as soon as you are eligible. For many, that is at age 62. This
is another time that conventional wisdom may be wrong. Read on to see
whether you should delay receiving those benefits.
Read on...
Six Easy Steps for Tuning Up Your Finances in the
New Year
Even if you think finances in ‘good shape’, everyone
could use a little ‘tune up’
Jan. 21, 2008 - With the beginning of a new year,
it seems everywhere you turn you hear something about self-improvement.
There are plans for weight loss, exercise regimens, quitting smoking,
going green and more. What about your finances? Even if you think your
finances are in ‘good shape’, everyone could use a little ‘tune up’ to
make sure everything is running smoothly. And it’s not as hard to do as
you think. Read
more...
Arbitration Won’t Fix It: Investor Often Wins but
Gets Small Award for Damages
Over 90% of Jane’s retirement money went down the
tubes.
Jan. 16, 2008 - Some of my best article ideas come
from my readers, and this week is no exception. This is a story of
misplaced trust, dishonesty, inaction and great financial loss. The
lessons learned through their experience will hopefully save you from a
similar fate.
Read on to find out more.
Understanding Trends of 2007 Helps in Building and
Maintaining Wealth in 2008
2007 could easily be referred to as the Year of the
Tums
Jan. 11, 2008 - Last year (2007) was a tumultuous
year for the stock market. Now that the LED ball in Times-Square has
dropped and the confetti has been cleaned up, it’s time to briefly recap
2007 and, more importantly, look at how your portfolio should be
positioned for 2008.
Read
more...
Think of Your Investment Portfolio as a Living,
Breathing Entity
Knowing how interest rates affect the business cycle,
helps you structure your portfolio
Dec. 26, 2007 - The effect interest rates have on
the performance of our economy cannot be overstated. Understanding how
interest rates affect the business cycle will help you know how to
structure your portfolio to achieve growth while minimizing risk.
Read
on to learn more...
It’s Time for the Tax Gifts that Keep on Coming
Through Good Planning
Depending on your income, your capital gains rate
might be 0%.
Dec. 20, 2007 - Did you know that you can sell a
stock at a profit and pay next to nothing in capital gains tax? Or that
you may not owe any tax on dividends you receive? It’s true. The Tax
Increase Prevention and Reconciliation Act (TIPRA), which was signed
into law in early 2006, reduces capital gains and dividend tax rates
even further—down to 0% in some cases. Read on to find out more and how
you can save money through proper planning.
Read more...
Retirees Need Investments to Generate Income – Don’t
Settle for Dismal Returns
While everyone else is in a panic and rushing for the
exits, look for opportunities
Dec. 13, 2007 - The Federal Reserve cut interest
rates again this week and will be likely to do so again in six weeks.
Yields on 5-year Certificates of Deposit are down to around 4.25% and
falling. On top of that, the ‘mortgage meltdown’ has hindered the
performance of the entire stock market. If you are retired and need your
investments to generate income you don’t have to settle for these paltry
rates and dismal returns. Read on to learn how you can get rates that
are double that!
Read more...
Are Variable Annuity Guaranteed Living Benefits
Worth It?
‘Financial
services industry is great at selling the sizzle and delivering very
little steak!’
Dec. 6, 2007 - If you have an IRA, sorting through
all the investment options can be very confusing. Unfortunately, there
is a lot of hype out there and - in my opinion - the financial services
industry is great at selling the sizzle and delivering very little
steak! Read
more...
Buy, Sell or Hold Decisions Should Not
Be Based on
Overall Market Performance
When everyone rushes to exits, those brave enough
to stay can pick up real bargains
Nov.
28, 2007 - The markets continue to be tumultuous and we’re seeing the
markets re-test the lows that were reached in August. . Since October
29, the S&P 500 is down 8.5%, the Russell 2000 is down 10.7% and the
emerging markets are down over 15%. Even energy stocks are getting hit
hard. Should you be selling stocks, gritting your teeth and hanging on
or be stepping up to the plate and buying?
Read more...
A Sure-Fire Investment: Invest Yourself in Those You
Love
Grandparents have opportunity, responsibility to
pass on a heritage
Nov. 23, 2007 - As we celebrate Thanksgiving, now
is the time to start considering end-of-year returns. It is also time to
analyze our investments and decide if changes need to be made. Here is
one sure-fire investment that you need to consider as you evaluate your
portfolio and calculate your wealth.
Read more...
Market Survival Tips: Look at These Traits of
Successful Investors
Rarely is casual investor successful, professional
has different approach
Nov. 16, 2007 - To say that the stock markets have
been volatile lately is an understatement. If you’re like most
investors, you may be wondering if you should stay the course or cut
your losses. There are several traits that successful investors have and
understanding them will help you increase your chances of success.
Read more...
Changing Investment Landscape Requires Radical
Change in Our Thinking
Old approach may hinder ability to maintain
standard of living in retirement
Nov. 9, 2007 - Seeing the ‘lay of the land’ can
help us invest more effectively. Investment landscapes can change,
sometimes very quickly. I believe the investment landscape we’ve
experienced for decades has been changing and that the speed of those
changes is increasing. If you agree, you may need to make significant
changes in how you invest.
Read
more... and read what Voudrie said last year about "OIL - The
800-lb. Gorilla."
Daughter’s Sad, Disgusting Tale of What Happened to
Elderly Father's Money
'What really hurt… this broker pretended she really
cared about my father’
Nov. 1, 2007 - I receive quite a few emails
requesting free financial advice. Often the questions are fairly
routine, but a few share heartbreaking stories of investors who are
trapped in difficult situations. In this case, the writer was glad to
have me share her story, in hopes that it would prevent others from
repeating the same mistakes.
Read
more...
Outsourcing Making Inroads into U.S. Healthcare
Services with Lower Prices
Bottom line is that patients could see savings
from 50% to 95%
Oct. 24, 2007 - American companies have been
downsizing by hiring overseas workers to handle tasks once reserved for
American employees. Manufacturing plants from a wide variety of
industries have moved their operations abroad. Now another area is being
influenced by outsourcing: healthcare.
Read more...
Equity-Indexed Annuities: Seeking Legal Recourse
When Promises Fall Short
Tens of thousand of senior citizens fall prey to
these sales pitches
Oct. 19, 2007 - One of the main reasons I so
adamantly oppose the use of Equity-Indexed Annuities is because what the
investor receives isn’t anything like what they expected. What should
you do if this happens to you?
Read on to find out...
What To Do When A Good Investment Goes Bad
My mother-in-law knows not every seed planted will
result in a harvest
Oct.
16, 2007 - We always hope for the best when we enter into an investment,
but what happens when things don’t work out as planned? Follow this
simple advice to make the most out of a bad situation.
Read more...
Easy Money! It
Comes at You From Many Directions
We
want to believe there is a secret shortcut to becoming wealthy
Oct. 8, 2007 - You won’t believe it - I just found out
that I am about to receive $2,700,000.00! My family and my kids shouldn’t
ever have to worry about money again! It’s not a result of my job, but of
providence. It almost seems too good to be true…Read
more...
Protect the Ones You Love: Lesson Learned from
Experience of Friends
Advice on what to do to protect your family after
you no longer can
Sept. 28, 2007 - Alzheimer’s. Stroke. Heart Attack
- they are words we all dread to hear, especially when they occur to a
loved one. The emotional strain is tremendous. But it can be compounded
if the loved one didn’t take steps in advance to authorize someone to
manage his or her assets. Regardless of your age, it’s imperative that
you have the proper documents in place.
Read on to find out why...
No Such Thing as a Free Lunch and Senior Citizens
Should Know Better
With baby boomers swelling the ranks of retirees,
regulators expect a rise in financial scammers
Sept. 21, 2007 - Most of the seniors that contact
me about investments they regret admit they’ve purchased them as a
result of a free “educational” lunch or dinner seminar. They go
expecting to have a nice meal with other seniors “on the house”, and end
up losing their shirt in some kind of investment scheme.
Read more...
Borrowing Against Home’s Equity – are There Better
Ways to Use that Wealth?
Those who make the most off of these ‘equity
stripping’ schemes are the advisors who sell them
Sept. 18, 2007 - The value of a home today, even
with the current ‘housing bubble’ is considerably higher than it was 5
years ago. If you’ve owned your home that long, your equity (the
difference between what it’s worth and what you owe) may have become one
of your largest financial assets. Are there better ways to use that
asset than leave it in your home?
Read more...
Protecting Your Equity from Lawsuits Requires
Understanding the Choices
Most secure method of protecting assets is an
irrevocable trust
Sept. 11, 2007 - Many investors today are anxious
to protect their assets from litigation. As a result, there are many
professionals in the business of helping investors meet this need. But
consumers need to be very careful about the advice they receive and the
path they choose.
Read
more...
How Do You Like These Odds? 90 Percent are
Incompetent Before They Die
You could needlessly cost your spouse thousands of
dollars and countless headaches
Aug. 31, 2007 - Are you a gambler? Do you like to
play the odds? Here are some real-life odds for you to consider: 90% of
people become incompetent before they die! Of course, your spouse might
not think you’re of sound mind right now, but that’s beside the point!
If you don’t take action, you could needlessly cost your spouse
thousands of dollars and countless headaches in order for them to make
decisions on your behalf.
Read more...
You Don’t Sell Your Home Just Because You Fear the Storm
Market upheavals leave investors three choices
Aug. 27, 2007 - The stock and bond markets
worldwide have been in upheaval the last several weeks. Panic has
gripped the markets as investors run for the exits. As the markets
continue to go down, even seasoned investors find themselves asking how
much pain they are willing to take. What should you do?
Read
more...
How to Manage Your Money in This Crisis of
Confidence
'Economy is strong and I believe the crisis is one of
confidence'
By Jeffrey D. Voudrie, CFP
Aug. 16, 2007 - The stock market has been
incredibly volatile since early July, with daily swings of 1% to 2% or
more. It’s enough to cause even the most seasoned investor to stop and
wonder what is going on. The news keeps talking about ‘credit swaps’,
‘CDO’s’ and sub-prime mortgages. But what does it all mean and why is
the market reacting the way it is? I want to explain why there is a
"Crisis of Confidence," and how to manage your money in the midst of it.
Read more...
Senior Citizens Need to Understand Why a Will
Sometimes 'Won't'
Many think that with a Will they don’t have
anything to worry about
Aug. 9, 2007 - A Last Will and Testament is the
most basic of estate planning documents, but also one that is often
misunderstood. Many think that if they have a Will they don’t have
anything to worry about - everything will go to the persons they
specify. That’s not true, though, and it’s important you understand why
a Will sometimes "Won’t".
Read
more...
Tough Love: Children Protecting an Ailing Parent
When Roles Reverse
Love really becomes tough when the parent/child roles
are reversed
August 2, 2007 - Anyone with children understands
the phrase “tough love”. Doing what is in the best interest of our
children isn’t always something they agree with or even understand. But
love really becomes tough when the parent/child roles are reversed as
our parents become elderly. Knowing how to respect their freedom,
maintain their dignity and yet protect them from themselves is a tricky
balancing act at best. At worst, it can become a major confrontation,
involving heated arguments, broken relationships and legal action.
Read more...
Taking Your
Lumps When You Retire, Maybe or Maybe Not
‘Keep the cow’ or receive the guaranteed monthly stream
of milk?
July 27, 2007 - When people retire, many face the
biggest financial decision of their lives. Do they keep their pension and
its monthly payments or do they take the lump sum? The pension provides
security and peace of mind, but having the lump sum would really be nice,
too. Which should you choose? Here’s a simple analogy that might make that
decision easier.
Read more...
U.S. Stock Market Returns Mislead Investors into
False Security
Threats out there to your ability to retire,
maintain your lifestyle
July 20, 2007 - The three leading U.S. market
indexes recently set all-time records. Investors are being rewarded with
impressive returns. But those returns are very misleading, and unless
you understand why, you are putting your wealth at risk.
Read on to see
why.
United States Has a Cancer and Senior Citizens are
Most Vulnerable
U.S. to see a long period of inflation, maybe higher
than 1966 - 82
July 13, 2007 - Inflation is like a cancer that
eats away at our standard of living. And those most vulnerable to
inflation are retirees and near-retirees. I believe we will experience a
damaging level of inflation over the next 10-20 years. If that’s true,
then action must be taken today to protect your way of life.
Read on to
see why.
Single Greatest Threat to Retirees is America’s Loss
of Its Independence
Investors cannot let patriotism cause them to lose
their money
July 6, 2007 - Each year, our country proudly
celebrates its independence on the 4th of July. I am a flag-waving
American that still believes our nation is one of the greatest nations
in our world’s history. But I can’t let my patriotism result in my
clients losing money.
Read more...
Keep the U.S. in Perspective as Overseas Markets are
Booming
90% of money invested in recent week went to equity
mutual funds focused outside U.S.
June 28, 2007 - They say there’s no place like
home and, for most American investors, our domestic markets have created
handsome returns over the years. But the tides are turning and foreign
markets are presenting great opportunities. The average annual return
over the last 5 years for foreign developed countries (EFA) was 18%
versus 10.5% in the U.S. (SPY). The 3-year average annual return of
emerging-market countries (EEM) was over 36% per year.
Read more...
It's Vital That Investors Stop and Look at the ‘Big
Picture’
The person who made the most off of the gold rush
was selling shovels
Most investors that I talk to know they want to
protect and grow their wealth. They are looking for an investment that
will help them do that. Should they buy an annuity or a mutual fund? But
they are missing the Big Picture and, in doing so, are putting their
financial future at peril.
Read more...
Don’t Let Fear of Losing Money Keep You from
Investing
Risk can and should be managed as we do other things in
life
June 6, 2007 - Millions of people fail to own stock
market based investments because they fear losing their money. That’s
understandable. Lots of people lost 30%, 40%, 50% or more between 2000
and 2002. But it doesn’t have to be that way! Don’t let the fear of
losing money keep you from an investment that can help you better reach
your financial goals.
Read on to see how.
Do You Owe Taxes On That Gift You Received?
Or will your family members owe on gifts you give
them?
June 1, 2007 - Many readers of this column take me
up on my offer for free financial advice. ‘Mr. K’ from Michigan, like
many, wondered about taxes owed on his mother’s house. Chances are you
will deal with the same issues.
Read more...
Is Investing Overseas a Trend or Just a Fad?
There is a reason overseas markets are performing so
well
May 26, 2007 - The returns on international mutual funds have far
out-paced those earned by U.S. funds for the last several years. As a
result, there has been a deluge of money flooding into these funds. Is
this the 1999 Tech Bubble all over again? Read on to find out.
Read more...
How to Provide a College 'Scholarship' and More for
Your Grandchildren
You can award those ‘scholarships’ and ‘grants’ -
Talk about a legacy
May 18, 2007 - Imagine what it would be like if
each one of your grandchildren earned a scholarship to pay their college
costs. Wouldn’t that be great? In a sense they can. Not only that, they
could receive grants to help them purchase their first home, start a
business and even provide additional retirement funds! Read on to find
out how. Read
more...
Income plus Growth for Retirees may be Income
Deposit Securities
IDS is combination of a corporate bond and a common
stock
May 9, 2007 - Investors everywhere seek
opportunities that can provide stable income while increasing the value
of their initial investment. Traditionally, these investors turn to
stocks that pay dividends. Income Deposit Securities are designed to
more directly meet these goals. Read on to learn about three such
investments you should consider now.
Read more...
How to Lower the Price of Gasoline Back to $1.25
Supply and demand law is why the ‘simple solution’ to
reducing the price can’t work
April 30, 2007 - Gas prices seem near all-time
highs and the summer driving season hasn’t even started yet! A recent
email presented a simple solution that will force gas prices back to the
$1.25 a gallon range. Read on for details and to learn basic principals
that may make investing more profitable.
Read more...
The Solution to the ‘Investment Roller Coaster’
Important that you can easily make changes to your
portfolio
April 14, 2007 - Does investing put you on an
emotional roller coaster? If so, you are not alone. The fluctuations of
the market are hard for most investors to stomach, and many suffer from
financial "motion sickness" as a result. But making investment decisions
under these circumstances is a recipe for disaster. Read on to find out
how you can get off the emotional roller coaster of investing.
Read more...
Do Not Leave Your Children the Challenge of Sorting
Out Your Estate
April 9, 2007 - Recently, I shared the
heart-wrenching story of a young soldier who had to deal with the
unexpected death of his mother. She didn’t have her affairs in order and
now her son has the extremely difficult task of recreating her financial
details from scratch. Here are some simple steps you can take to ensure
that your loved ones aren’t left in a lurch.
Read more...
Soldier's Financial Battle Began At Home
With Mother's
Death
Mother never talked about her plans, doesn’t even
know if she had a Will
April
2, 2007 - I received a heart-wrenching phone call from a
young soldier. His mother had just died and he was left with the
responsibility of settling her estate. He had no idea the difficulties
he would encounter—not on the battlefield but here in East Tennessee.
The worst part is it could have been completely avoided.
Read
more...
Saving Your Home Should You Need to Use Medicaid
Long-term care insurance best means of preserving
assets for those who can afford it
March 23, 2007 - For many seniors, their home is
their most valuable asset. It’s painful to think that their home might
be lost to Medicaid in the event they have to go to a nursing home. I am
often asked if this can be prevented. Read on to find out.
Read more...
Changes in Tax Laws Have Created the ‘Corrected
1099’ Nightmare
Banks, brokers now report interest, dividends on
different 1099s
March 19, 2007 - There’s nothing more frustrating
than receiving a corrected 1099 a few weeks after you’ve filed your tax
return. Must you amend your return? Read on to find out.
Read more...
Equity Indexed Annuities: 'The Investment from Hell'
Too bad that Greg’s grandpa didn’t know the truth
March 12, 2007 - If you were nearing the edge of
the cliff and didn’t know it, would you want someone to warn you before
it was too late? Of course you would. That’s been the guiding principle
of this column, to inform everyday investors of the pitfalls that could
cause them and their nest egg irreparable harm.
Read more...
Grandparents May Avoid Capital Gains to Provide
College Funds
Feb. 18, 2007 - For the last two decades, financial
planners, lawyers and accountants have recommended their clients take
advantage of the ‘kiddie-tax’ when selling investments to pay for their
child’s college education. The Tax Increase Prevention and
Reconciliation Act (TIPRA), which was signed into law in early 2006,
changed the ‘kiddie-tax’ rules. But you can still avoid paying capital
gains tax on the sale of appreciated assets if you plan ahead. Read on
to find out more.
Read more...
Tax Gifts Keep On Coming If You Sell Stock at Profit
and Pay No Capital Gains
Regardless of tax bracket, dividends and capital
gains are more valuable than interest
January 23, 2007 - Did you know that you can sell a
stock at a profit and pay next to nothing in capital gains tax? Or that
you may not owe any tax on dividends you receive? It’s true. The Tax
Increase Prevention and Reconciliation Act (TIPRA), which was signed
into law in early 2006, reduces capital gains and dividend tax rates
even further—down to 0% in some cases. Read on to find out more and how
you can save money through proper planning.
Read more...
It’s all about Cash: Making Your Money Last in
Retirement
You need income and nest
egg increasing throughout your life
December
2, 2006 - It’s vital that your nest egg last longer than you do. The
only way for that to occur is if the nest egg continues to grow over
time. If you take out more than you earn you are guaranteed to run out
of money at some point. If your nest egg continues to grow, though, it
will always last longer than you.
Read more...
What is a Retirement Paycheck You Can Depend On?
You need to depend on
your money lasting far beyond age 85
November 9, 2006 - Financial retirement was very
different for our parents. They worked for the same company for most of
their careers. When they retired, they started receiving monthly checks
from their company pensions. Nowadays, financing retirement is much more
complicated. But it doesn’t have to be. Read on to find out how.
Read
more...
Senior Journal Expert Answers Financial Questions
for Seniors at No Charge
Guarding Your Wealth for Seniors on this Website
for over a year
October 29, 2006 - Sometimes it is the little
things in life that really make the difference. That’s especially true
then when it comes to dealing with financial matters. Decisions about
who to trust, what to invest in, making gifts or the type of insurance
to buy all have long-term consequences—and often unintended results.
There are many times that a simple answer from a professional would have
made all the difference. And now you can get that answer free of charge.
Read more...
Defying Conventional Wisdom Improves Your Odds and
Retirement
Strategies and techniques for
a more
comfortable retirement
October
19, 2006 - Relying on conventional financial services advice
may result in working years longer or living with less during
retirement. They say that you should only take 4% a year off of your
investments. They also say you should increase the amount you have in
‘safe’ investments like bonds. But I believe they are wrong.
Read more...
OIL: The 800 lb.
Gorilla
Don’t be fooled by short-term trends in the
price of oil
October 9, 2006 - The price of oil is down almost
25%. Gasoline prices at the pump are down almost $1. Make no mistake,
though, the returns on your investment portfolio over the next 10-15
years will be determined by energy investments. Invest wisely and
prosper; don’t, and risk peril.
Read more...
Retirement Investing: Forget 4% Guide
Take action now to
protect your lifestyle dreams
October 4, 2006 - Do you want to reduce your
standard of living when you retire? Of course not. But if you follow
conventional financial planning ‘wisdom’ concerning retirement
investing, that’s exactly what you may have to do! Whether you are
currently retired or wanting to in the next 5 to 10 years, you must take
action now to protect your lifestyle dreams.
Read more...
Pension Protection Act Affects Those Working or
Retired
One change may save
families hundreds of thousands of dollars
By Jeffrey D. Voudrie, CFP
September
20, 2006 - The Pension Protection Act was recently passed by
Congress and signed into law. It is “the most sweeping reform of
America's pension laws in over 30 years.” Whether you’re retired or
still laboring to build your nest egg, the Pension Protection Act (PPA)
will affect you. Read on to find out how.
Read more...
Factoring Terrorism into Investment Decisions:
Remembering 9/11
September 13, 2006 - This week marked the 5-year
anniversary of the terrorist attacks of September 11th, 2001. It is a
tragic day that none can forget. And it is a day that should continue to
affect our investment decisions. Read on to find out how.
Read more...
Signed, Sealed, Delivered – It’s Theirs
How to make dividing
your possessions easier on your family
By Jeffrey D. Voudrie, CFP
September 8, 2006 - Few issues can be more
emotional and complicated than those that occur at the end of our lives.
No one likes to think about them, and fewer still plan properly in
advance. In this article, we’ll discuss the simple steps you can take
that will make dividing your personal possessions easier on your family.
Read
more...
Annuities? Give Me a Break!
For millions of seniors suckered in, there’s little they can do
August
23, 2006 - Millions of seniors are sold equity-indexed and variable
annuities with promises of guaranteed returns with little or no risk.
And hardly a day goes by that I don’t hear from some frustrated investor
who finds him/herself trapped by one of these investments. Let me paint
a very clear picture of the dangers of these products and share some
pointers for those who have already bought one.
Read
more...
Beware of Universal Life Insurance: Part 1
Reasons sales people
give seem compelling, but…
August 16, 2006 - Has a life insurance agent
suggested that you buy ‘permanent’ insurance such as Whole Life,
Universal Life or Variable Universal Life? The reasons they give seem so
compelling, but are they in your best interest? Here’s an explanation of
the basics, plus what the insurance agent isn’t telling you!
Read
more...
Beware Of Universal Life Insurance:
Part 2
Perfect retirement
vehicle? New way to build wealth? Exposing the fallacies
August 17, 2006 - In my last article, I explained
the basic differences between term and permanent insurance. Permanent
insurance such as Whole Life, Universal Life, Equity-Indexed Universal
Life and Variable Universal Life is regularly promoted as the perfect
retirement vehicle or the new way to build wealth. This week I will
expose the fallacies of those arguments.
Read
more...
When A Will Isn’t The Way
Your wishes may not
be carried out if you are not careful
August 2, 2006 - Many people have the mistaken
impression that their Last Will and Testament determines what happens to
their possessions when they die. As John, a reader in Marysville, TN
learned, that’s not necessarily true.
Read more..
Life Insurance: Too Much, Too Little or Just Right?
Once you retire you
may no longer need life insurance
July 26, 2006 - The thought that you may not need
life insurance is anathema to most life insurance agents. But as a
Certified Financial Planner who is also a life insurance agent, I have a
different point of view. There are times when you may not need life
insurance. Read
more...
Do You Owe Taxes On That Gift?
July 14, 2006 - Many readers of this column take me up on my offer
for free financial advice. ‘Mr. K’ from Michigan, like many, wondered
about taxes owed on his mother’s house. Chances are you will deal with
the same issues. Read
more...
About-to-Retire Boomer Has Questions about Financial
Planner's Advice
July 8, 2006 - I recently received a question from
a reader in Florida who is taking an early retirement. Like many
investors, he was confused after meeting with a couple advisors. My
advice to him might save you from making a wrong decision, too.
Read more...
Are Low Cost Annuities A Good Choice?
July 5, 2006 - I’ve disliked variable annuities for many years
because of their high fees and onerous surrender penalties. Now,
low-cost variable annuities are available that slash fees and do away
with the surrender penalties. Does this change my opinion on the use of
variable annuities? Read on to find out.
Read more...
Beware of Generalities When Considering Real Estate
Investments
Real estate should be
a normal part of any portfolio
June 22, 2006 - Talking heads and pundits
everywhere are quick to make predictions based on broad generalities.
Many investors respond by making changes to their portfolio. Doing so
isn’t always in your best interest. Let me explain why.
Read more...
Real Estate Can Be in an IRA but Basic Rules are
Critical
June 16, 2006 - Did you know you can use your IRA
to purchase real estate? You can, but it’s important that you follow
some basic rules or you risk the IRS disqualifying your entire IRA!
Read more...
When To Start Receiving Social Security Benefits?
A bird in the hand is better than two in the
bush... maybe
June 2, 2006 - Conventional wisdom and many financial planners say
that you should start taking Social Security benefits as soon as you are
eligible. For many, that is at age 62. This is another time that
conventional wisdom may be wrong. Read on to see whether you should
delay receiving those benefits.
Read more...
Retired Variable Annuity Investor Gets Justice After
Loss
May 7, 2006 Countless investors have lost large
portions of their investments. Some have been in investments where they
lost everything. But investors looking for help in recouping losses
often find there are few places to turn for assistance. Read on to learn
about one investor that finally got justice.
Read more...
How Senior Citizens Can Hype-Proof Their Portfolio
Six ways senior
citizens can protect themselves from slick salespeople?
April 21, 2006 - My recent article criticizing the
controversial equity-indexed annuity has generated a boatload of email.
But one email in particular caught my eye. And it wasn’t from being
flamed by irate insurance agents (I got plenty of those!), or emails
from thankful consumers, pleased the public is being warned about
equity-indexed annuities’ pitfalls.
Read more...
Retire Sooner and Make Money Last Decades Longer
April 12, 2006 - Everyone would love to retire
early, but they also desire to be free from the fear of running out of
money. Changing your attitude toward investing and the approach you take
will help you accomplish both. Read on to see how you can retire years
sooner and make you money last decades longer.
Read more...
Changing View on Retirement May Allow You to Retire
Sooner
April 10, 2006 - In our culture, the main goal of
retirement is to put our working days behind us and devote ourselves to
the pursuit of pleasure. Many find, though, that continuing to work in
some form keeps them active and gives their lives purpose. Changing your
concept of retirement may even allow you to retire sooner.
Read more...
Equity-Indexed Annuities Exposed as Dangerous for
Senior Citizens
April 5, 2006 - I don’t like equity-indexed
annuities. I believe they are dangerous to seniors and that they should
be avoided at all costs. I’ve been shouting this message from the
mountaintops the last two years. And people are listening—everyone, it
seems, except the agents selling them!
Read
more...
Strategies To Boost Growth in Retirement Investments
Keep your investment nest egg growing even after you retire
March 30, 2006 - You should continue to grow your
nest egg even when retired--unless you’ve been blessed with more money
than you will ever spend! Last week I discussed in detail how retirees
can boost their income without taking on unnecessary risk. This week,
I’ll explain ways you might safely grow your portfolio while minimizing
risk. Read
more...
How Retirees Boost Income from Their Investments
March 26, 2006 - Retirees have two major investment
goals. They want income to provide for their living expenses today, and
they need growth so they can maintain their standard of living in the
future. This week I’ll focus on effective ways to manage your portfolio
that may dramatically increase your income. Next week I’ll share
growth-oriented strategies.
Read
more...
Avoid More Financial Razor Blades
Why are 70 and 80-year olds being sold variable
annuities?
Feb. 10, 2006 - Our nation has just enjoyed one of its most popular
annual rituals: the Super Bowl. One can draw many lessons from the drama
on the gridiron and all the hoopla surrounding it. But as I watched this
year’s spectacle, one thing in particular caught my eye. And what I saw
can teach a very valuable lesson about investing. Read
more...
Understanding Long Term Care Insurance: Part 4
Feb. 1, 2006 - Today’s senior citizens are living
longer than ever, but as life spans increase, so do the needs for
additional care. The majority of today’s retirees will need some form of
special care as they age, whether that help is delivered in their own
residence, in an assisted living facility or at a nursing home. The cost
of such care is skyrocketing and many find they are unable to afford it.
Read more..
Bridging the Long-Term Care Gap: Part 3
The real conundrum exists for senior citizens of
moderate means
Jan. 25, 2006 - Providing for adequate health care
is one of the top concerns for today’s seniors. And yet, many find
themselves coming up short when that need is for long term care. With
costs skyrocketing and government purse strings tightening, planning for
such care has never been more important. Don’t let long term care costs
take you by surprise. Read on to make sure you’re prepared.
Read more...
Don’t Rely On
Medicaid For Long-Term Care: Part 2
Part Two of series on Long-Term Care
Jan. 20, 2006 - Millions of retirees expect to rely
on Medicaid to cover the cost of their long-term care needs. If you or
your parents have that expectation then you must read this article. You
shouldn’t rely on this program and by doing so you may end up becoming
dependent on family and friends for care.
Read more...
Facing the Long-Term (Care) Nightmare: Part 1
The government is likely to cover even less care in
the future
Jan. 11, 2006 - Recent legislation in Congress may
make it even more difficult for seniors to qualify for government-paid
long-term care coverage. If you don’t take action now, you may be
setting you and your family up for a Long Term Nightmare!
Read more...
Don’t Scramble Your Eggs When Investing
Jan. 5, 2006 - Financial advisors have been preaching the use of
portfolio diversification to reduce risk for years. Unfortunately, the
way most do it leaves your portfolio vulnerable! Read on to find out how
to properly diversify your portfolio.
Read
more...
New Year Financial Tune Up for Seniors
Dec. 31, 2005 - While you’re making your New Years’
resolutions, don’t forget to give your financial house an annual
tune-up. As the old saying goes, an ounce of prevention is worth a pound
of cure, and few adjustments now could save you thousands of dollars,
not to mention some major headaches, in the months and years to come.
Read more...
Don’t Be Left Holding the Bag on Estate Planning
Dec. 28, 2005 - Ned almost lost the farm that had
been in his family for 8 generations! We’ve all heard that ‘The Devil is
in the details.’ It is especially true when it comes to estate planning.
Make sure you don’t make the same mistake Ned did.
Read more...
How Do You Like These Odds – 90% Incompetent Before
They Die
Dec. 21, 2005 - Are you a gambler? Do you like to
play the odds? Here are some real-life odds for you to consider: 90% of
people become incompetent before they die! Of course, your spouse might
not think you’re of sound mind right now, but that’s beside the point!
If you don’t take action, you could needlessly cost your spouse
thousands of dollars and countless headaches in order for them to make
decisions on your behalf.
Read
more...
The Solution to the ‘Investment Roller Coaster’
Dec. 13, 2005 - Does investing put you on an
emotional roller coaster? If so, you are not alone. The fluctuations of
the market are hard for most investors to stomach, and many suffer from
financial ‘motion sickness’ as a result. But making investment decisions
under these circumstances is a recipe for disaster. Read on to find out
how you can get off the emotional roller coaster of investing.
Read
more...
It’s YOUR Money: Make Sure You Keep Control Of It!
Nov. 30, 2005 - One of the biggest mistakes I
frequently see investors make is needlessly losing control of their
money. Any time you pay a hefty commission or face surrender penalties
in order to get YOUR money you lose control. Losing control severely
limits access to YOUR money and limits your flexibility to make changes.
This can trap you in an under-performing investment adding years to the
time needed to reach your goals.
Read more...
When Your Life Insurance Is A Pot Of Gold
Nov. 15, 2005 - Don’t cancel your life insurance
policy without reading this first! Depending on your situation, you may
be losing tens of thousands of dollars if you do. If you have a life
insurance policy that you no longer can afford or need, consider selling
the policy. Read on to find out how.
Read more...
Afraid of Losing Your Home To Medicaid?
Nov. 3, 2005 - Doris from Minnesota is considering
transferring her assets to her son so they won’t be lost to Medicaid
should she need assisted-living or nursing home care. Is that the right
move? If so, what’s the best way to do it? Read on to find out.
Read
more...
Are Your Company Retirement Benefits in Jeopardy?
Oct. 26, 2005 - In years gone by, when someone
retired from a large company they didn’t have to worry about losing
their retirement benefits. That’s no longer the case. Being faced with
ever increasing competition, many large companies are changing their
benefit programs. If this hasn’t affected you yet, it soon will. Read on
to find out how.
Read more...
Oversight Needed On Equity-Indexed Annuities
Oct. 24, 2005 - The sales of Equity-Indexed Annuities has increased
45% the first 6 months of this year. I’m concerned that the vast
majority of those sales are unsuitable for the investors buying them.
Oversight by the Securities and Exchange Commission (SEC) and the
National Association of Securities Dealers (NASD) is desperately needed
to protect retirees from being taken to the cleaners by agents hungry
for the large commission. Read on to find out how this oversight will
benefit you.
Read
more...
Clearing
Up Estate Document Confusion
Living Will, Living Trust, Powers of
Attorney...
Oct. 14, 2005 - Few topics confuse
investors more than figuring out what estate-related documents
they need. Living Wills, Living Trusts, and Powers of Attorney
are just a few of the terms that most find hard to define, let
alone understand. But being comfortable with these terms and
what each one can do for you is important, and can make the
difference between your wishes being followed or creating a
nightmare.
Read more...
The Real Reason For Long-Term Care Insurance
Oct. 10, 2005 - My mother-in-law recently passed away after a long
and courageous battle with cancer. Throughout her battle, our family had
to deal with many emotional and legal issues.
Read more...
To
Trust or Not to Trust? That is the Question for Seniors
Is a Living Trust right for you and how to go about
getting one
Oct. 4, 2005 - Living Trusts have become very popular
and are being heavily promoted to seniors. Should you Trust or not Trust?
That is the question. Read on to learn some simple guidelines that will help
you know whether a Living Trust may be right for you and how to go about
getting one if needed.
Read more...
Beyond the Living Will: Seniors Have More to
Consider
There are other important documents seniors need in
place
Oct. 3, 2005 - Living wills have received a great
deal of attention due to the Terry Schiavo situation. Because her
end-of-life wishes were in dispute, family members battled each other in
the courts over her treatment and care. By having a proper Living Will,
you can avoid such confusion. But a Living Will doesn’t ensure you have
all your bases covered. There are other equally important documents you
must have in place.
Read more...
Seniors Targets of Financial Charlatans
Sept. 29, 2005 - Seniors in your community may be targets of
financial charlatans. I’ve received a number of disturbing reports
recently from seniors about the abusive tactics of some advisors. Their
actions are not only unethical, but they border on the criminal. You
must be aware of these despicable tactics so you and your nest egg are
protected. Read
more...
The Ins and Outs of Reverse Mortgages
Sept. 28, 2005 - Reverse mortgages have been around
since 1989, but they are rapidly gaining in popularity. The complexity
of reverse mortgages makes it difficult for the average senior to
separate myth from reality. Let me help you decide if one is right for
you. Read
more...
Seniors Not Getting The Whole Story on Mortgages
Sept. 26, 2005 -- Financial salespeople such as
investment advisors and mortgage brokers are recommending ‘new’ types of
mortgages to senior citizens and baby boomers for improving cash-flow,
freeing up money to invest, and having money to take that dream
vacation. Their sales pitches sound so enticing. But here’s what they
don’t tell you. Read
more...
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Guarding
Your Wealth
by Jeffrey D. Voudrie, CFP
Mr. Voudrie, a certified financial planner, writes a
weekly column that appears on his Website.
Those subjects most pertinent to senior citizens are
republished here.
•
About
Jeff Voudrie
•
His Website
He will answer your specific financial question free of charge.
Click
Here to submit your question or call toll-free at
1-877-827-1463. |
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