A new way to pay for long-term care
(The New York Times)
“My sister doesn’t need to decide yet. Life settlements are meant for people in immediate financial need; she can afford to hold off for a few years. It’s good to know that she has the option to convert her two policies to cash if she needs it. It’s hard, at this point, to know if she should.”
How annuities can shield you from creditors
“Most agents think that annuity utopia exists with a room full of aging baby boomers. I always joke that annuity utopia for agents is an actual place in the middle of Florida called The Villages.”
5 tips for digital estate planning
“Most clients have made plans to dispose of their tangible property after they’ve gone. But these days, people have an awful lot of intangible property to deal with as well.”
Til death (not retirement) do us part
“Not every disagreement will break up a marriage, of course. One partner works a couple of extra years while the other one doesn't - happens all the time. But how can you solve differences that run deeper, short of a retirement trip to Reno for a quickie divorce? Here are some thoughts.”
Same-sex spouses should review retirement plans
“Now that the Department of Labor (DOL) has adopted the approach used by other federal agencies (Treasury, IRS) in terms of how same-sex couples must be treated, individuals in such relationships should take a close look at who they named as beneficiaries on their retirement accounts. In fact, this should be done for every account that requires a beneficiary designation- from life insurance policies to annuities.”
5 ways financial planners beg you to fire them
“If your financial planner cops a cocky attitude and parades a know-it-all ego, you should look for a new planner. Here are five planner comments you should beware of.”
What clients wants: Advisors get straight advice
“Clients turned the tables on advisors Wednesday afternoon -- giving advice to the attendees at NAPFA’s fall conference in Philadelphia, rather than receiving it.
The Obamacare software mess
“Like millions of Americans who tried to use healthcare.gov, the new Obamacare website, in its first week of operation, he found that it was not working. Signing up for Obamacare is still ridiculously hard.”
Why you probably need more disability insurance
“Disability insurance tends to be one of the more overlooked forms of insurance, particularly by young people, even though consumer advocates generally agree it's an essential way for people to protect themselves from unexpected illness, accidents or other problems that prevent them from working.”
Millennials are opting out of Obamacare because it’s not insurance
If America’s downtrodden and struggling young people are smart, they’ll opt out. Then it’ll be up to the federal government to fine them enough to make up for the shortfall.
The shutdown just saved the world
(The Washington Post)
“Whatever the endgame, the fight now is over a government shutdown. That's bad. But it's not nearly as bad as a fight over the debt ceiling. It's evidence of how far into dysfunction American politics has fallen that this can or should be said, but thank God for the government shutdown. It might just have saved the country.
10 worst states for business taxes
"'The states that lost ground this year usually did so because they changed policy in a way that makes the tax code more complex, burdensome or economically harmful,' Scott Drenkard, Tax Foundation economist, said in a statement."