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This week Roger breaks down IRMAA Medicare surcharges and why retirees should understand them without letting them dominate retirement planning decisions. He explains how the income thresholds work, c...
I am 63 and married for 30 years - husband is 67 and retired from corporate 2+ years ago. We are financially sound - our FA says we are in great shape with nothing to worry about and that I can retire...
Before giving your kids money in retirement, ask these 3 questions to protect your nest egg and their financial future.
The sandwich generation risks its own retirement by supporting parents and children. Protecting savings, planning, and setting boundaries ensures long term stability.
Trump Accounts are a new type of tax-advantaged investment account designed to help children begin saving and investing early in life.
From emergency savings to helping your children, here's how advisors suggest ranking the financial demands competing for your money.
Do you know how you'll afford to age in place, help kids and grandkids now and after you pass and avoid making compromises on your healthcare?
Your spouse and children could be bumped into higher tax brackets if you leave them a substantial sum in an IRA. Partial Roth conversions now can help.
I'm considering retirement or surviving after being retired. 1 and 3 kids move back home to make it. I have friends who retired and have to provide some sort of assistance for their children or grandc...
This week in Kiplinger:https://www.kiplinger.com/retirement/happy-retirement/master-the-art-of-spending-in-retirement No wonder, then, that many retirees at all levels of wealth are pulling the reins ...
After watching my children navigate a much less forgiving economic environment than we had, I've found the best way I could help them. The post Creating a Family Resilience and Emergency Fund for Rare...
Kids who grow up with savings accounts are more likely to learn the basics of managing and investing — and more likely to attend college.
The teenage years are tricky for kids and parents, but they're the right time to start talking openly about money and what you'd do in a medical emergency.
Anyone else in a similar situation? We currently live in the Midwest and I'm not a fan of the 6 month long winters. We could probably do the snow bird thing for a while, but at some point we'd have to...
You might hope for an easy transition, but your children could have different ideas about who gets what. Talking about it early could head off divisions.
Don't put off money conversations with your heirs. Financial education needs to start early, with hands-on opportunities to learn and make mistakes.
When tuition stops, it frees up $30,000 to $80,000 a year. Most households don't have a plan for that money. Here’s how to put it to work. The post What to Do With Money After Kids Graduate appeared f...
I recently received a great comment on my post, Why All Rich People I Know Still Have Life Insurance. It was the last line that stood out. Here's what Marc had to say. I had life insurance ($1M) throu...
Want to give your kids a home down payment? Want to help cover daycare expenses? Instead of writing them a check, transfer appreciated stock into their account.
What looked like smart tax planning could become a problem. And not just for you — your kids could inherit a tax bomb. How to head off potential disaster.
Could one outdated beneficiary form, missing trust provision, or overlooked document completely derail the legacy you intended to leave behind? Topics covered in this episode: The biggest misconceptio...
If wealth management clients have children who are recent college graduates, pointing them in the right direction on their first 401(k)s helps build strong connections with two generations.
Here's something I've noticed: the loudest voices arguing against life insurance after financial independence almost always come from people who aren't financially independent yet and don't have kids....
I took a job about 400 miles away from my family some 24 yrs ago. And last year i retired at 65. My parents have passed so its me, my sister and her 2 daughters. Ive never really been close with her 2...
In this episode, retirement expert Roger Whitney and Marie Kondo consultant Dr. Lindsey Hardegree explore the transformative power of decluttering. They discuss how clearing physical and emotional clu...
I am 57 years old and still working full time, living on my own. My sister is 54, in poor health, and lives with my mom. Our mother is soon to turn 81, in reasonably good health, or at least has way l...
Teaching kids financial literacy doesn’t have to be complicated. Summer can be the perfect time to teach children and teens real-world money skills through allowances, chores, summer jobs, grocery sho...
Should Al and Peggy in Illinois keep hammering pre-tax retirement savings or should they pivot to post-tax Roth for better tax diversification? Which pension option is best for their early retirement ...
Joe Anderson, CFP® and Big Al Clopine, CPA are defusing some confusing tax time bombs today on Your Money, Your Wealth® podcast number 557. George in Torrance wants to know the smartest way to deal wi...
Millions of those in the sandwich generation need to care for kids and aging parents while saving for retirement. These tips can help make it less of a struggle.
A lesser-known SECURE Act exemption can help families with a child or grandchild who needs support but doesn't qualify for SSI or SSDI save significantly on taxes.
It was a once-in-a-lifetime opportunity to drive Route 66 from Chicago to Santa Monica, California, with my kids and my parents as part of USA TODAY's American Journeys series. I was nervous about tak...
The Bank of Mom and Dad can be challenging — financially and emotionally. These tips pave the way.
I've been retired for 2 years as of June 1. My wife has decided to pull the trigger as of the end of June, with her last day (using vacation for the rest) on June 12. We've been talking about the 'nex...
UK 56M, I have worked abroad for the last 8 years and plan to work as long as my body allows, but at least up until UK state pension age, mainly because I had kids later in life (they're going to Uni ...
I (71m) retired 8 years ago and having worked as a corporate sales coach, I told my staff often that “you are what you do everyday!” At the risk of offending you, I confess that my wife and I are a go...
(No, not the go-go, slo-go, no-go adage) I just got my letter from Social Security saying, it’s time, bud, apply to claim your benefits. I’ll be 70 in a few months. For the last 2.5 years, my wife and...
Feeling happy? That could be because spring has finally sprung here in the Midwest. Or, more specifically, it could be because you're part of the Keen Wealth audience right here in Overland Park! A re...
We are hoping to retire in next 2-3 years. We met and married in San Francisco and loved that urban vibe when we were young. Kids came along and we relocated to Roswell GA just outside of Atlanta in t...
This is going to be a bit long. We are planning on getting LTC insurance, my wifes dad used his benefit and we have no kids. I am just not sure how to think about it. I conceptualize 3 different reaso...
Wish we all could see the future! Will be 70 later this year. Still working part time, started collecting SS at FRA. Divorced long ago, never really recovered financially. Work recently started a 401k...
My daughter has a significant disability but has been self-supporting and living independently for 15 years. She has suffered some setbacks in this economy. I also feel that she makes what I think are...
Growing up, my dad would grab a quick breakfast with us before vanishing into the workforce. He'd resurface after 6pm, visibly depleted. The highlight reel of my childhood memories: throwing a ball ar...
Surrounded by other high-income docs, I’ve felt the cultural pull to push my kids to excel. Should that include an Ivy League education? The post Should I Send My Kid to the Ivy Leagues? A Parent’s Pe...
My husband and I are both 64 years old. My husband is disabled. We are currently living near my children and grandchildren, but we’ve realized it’s too expensive to live in our current state. I retire...
After the final day of swimming and tennis at the sports club we're dropping, I took my kids to an open house in San Francisco. My wife was on a mom’s trip to Napa and I wanted to keep introducing my ...
After publishing my piece on the shocking cost of eldercare, a question kept nagging at me that I couldn't shake: when money is finite and the people you love are not, how do you decide who to help or...
There are a lot of things wealth is good for, but one of the most underrated benefits is being able to buy peace and quiet. As I was sitting in the hot tub with my two children at Everline Resort in L...
Every year or two, the market hands you a gift wrapped in anxiety. You watch your portfolio bleed, you refresh your brokerage app more than you should, and you feel helpless. But when you have childre...
You can tell a lot about a person by how they talk about boats. Some light up like kids in ... Read more