Month: October 2016

Impacting People and Charities You Care About

Generational Giving to Kids, Grandkids, Great Grandkids and Favorite Charities Legacy planning and charitable giving is usually associated with the affluent and uber-wealthy. Interestingly enough, middle-class Americans are just as benevolent. So what happens when your heart is bigger than your wallet? Watch the interview with retirement specialist Steve Bishop. Priority giving is a typical approach to benevolence. Family First – The transfer of wealth is an ancient practice throughout human history. The conveyance of family assets from one generation to another is a means to perpetuate the bloodline in prosperity and sometimes into perpetuity. But never before has...

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Probate is Too Public, Too Expensive and So Impersonal

Who Needs Their Information Hacked When Probate Makes It So Public? American seniors are a significant demographic of the procrastination nation. They don’t have wills, no trust documents or family attorneys. But one thing they do have is a death experience, and that experience is generally dying intestate. Get ready for the bureaucratic meat grinder that is probate. Oh, not for you, but for your beneficiaries. Watch the interview with retirement specialist Steve Bishop. No Privacy Having your estate go through probate is like being on the front page of the National Inquirer. It all becomes public record. Anyone...

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Keep Uncle Sam out of Your Pocket in Retirement

Increase Your Retirement Income by Becoming Tax-Savvy Many new retirees take up hobbies, sports or card games. Some actually become better golfers, artists or bridge players. But if seniors would take the time to learn basic tax management, they could impact their monthly cash flow 10 to 15 percent. So don’t take up a hobby, sport or card games, until you learn to game the tax code. Watch the interview with retirement specialist Steve Bishop. It’s surprising for most seniors to discover taxes are generally the number-one annual expense in retirement. Most retirees could keep more of their money...

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Matching Guarantee Retirement Expenses with Guaranteed Income

Use Guaranteed Lifetime Income to Pay for Guaranteed Budget Items It should be antithetical to depend on non-guaranteed investment income to pay for guaranteed retirement expenses. It’s not just a theory—it’s a major component to your personal psychonomics or retirement happiness to cover reoccurring household expenses. In addition, since expenses in retirement usually go up, your guaranteed income needs to match it. Watch the interview with retirement specialist Steve Bishop. To build a reliable retirement, you need to construct a firm foundation. A cornerstone in stable retirement design is eliminating a mortgage payment during retirement. One option with intrinsic...

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Quit Spending Down Your Assets to Qualify for State Protection

Your Retirement Dreams May Quickly Regress into a Nightmare No one wants to live in a nursing home with strangers, especially in a state-run facility. To underscore this factoid, you need to see your future now by going on reconnaissance missions to a state-run nursing home well before your 60th birthday. It will be a shock-and-awe experience that will revolutionize your thinking about saving money for elder care. Watch the interview with retirement specialist Steve Bishop. Spending down your money to qualify for government assistance to pay for your elder care is the great rouse of retirement. Burning through...

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