This phase occurs during the final years of the accumulation phase and should begin when you reach 50 years old or are 15 years away from retiring, whichever happens first. Now is the time to get your plan in place, making sure your finances are lined up correctly for retirement day so nothing will be left to chance. If you work for a company with a benefits specialist, arrange an appointment to become informed about the various ways you can convert your employer retirement savings into a stream of income or an IRA. Give yourself time to learn the ropes…
A growing market for fellowships that targets older workers connects private sector expertise with nonprofits in need of help. Nancy Diao works part-time, for a small stipend, at a Bay Area education nonprofit. But at 60, Diao isn't your average intern. She's a former executive who will spend her fellowship year at Breakthrough Collaborative serving as Acting Chief Operating and Chief Financial Officer. Millions of baby boomers, like Diao, don't want or can't afford to check out of the workforce at age 65. And many are seeking a transition into work that has a social impact. The San Francisco-based Encore.org…
As the baby boom approaches its Social Security years, it is turning the decision about when to start collecting benefits from an automatic move into a major planning and research opportunity. Having intensively looked into car seats and college admissions for their kids and tried to map out careers and 401(k) plans, boomers now will focus attention on squeezing Social Security for all it is worth. "Baby boomers are the first generation that isn't going to put up with crappy advice," says William Meyer, Chief Executive Officer of Social Security Solutions, Inc., one of a number of new companies selling…
When you come to our office for the initial consultation, our promise is to make it as comforting as possible. When you leave our office feeling relieved and you have a guide to lead them through the long-term care legal maze. In helping clients navigate the long-term care legal maze we’ve set up a three-step process. The Peace of Mind Meeting At the first meeting, we will welcome you to our firm. Consider this a “get to know you meeting.” At this meeting it is our goal to make you feel comfortable and help you understand the long-term care maze that…
If you are a Caucasian woman, aged 35 or older, possibly married, very likely working full or part-time—then there is a good chance that you are also (or will soon be) serving as a caregiver for an aging parent or relative. At least this is what a recent report released by the National Alliance for Caregiving, AARP, and MetLife indicates. The entire report, entitled “Caregiving in the U.S., A Focused Look at Those Caring for Someone Aged 50 or Older” is 73 pages long, but you needn’t read the entire thing to get an insider’s peek at the state of…
Providing asset protection, support and guidance to families, I realize that the cost of care is not usually understood. Our typical client is not aware that planning for care is similar to planning for a child's education; there is a need to plan ahead or you may not end up where you want to be or end up paying too much. The need for planning is becoming more important as our nation's demographics are evolving to a situation that has never been seen before. The nation's population of senior citizens is about to rise to historic levels. By year's end,…
By dedicating some time early on in the diagnosis and fighting for the cause during World Alzheimer’s Month and beyond, a family can know they have done everything to support their loved one to live a full life and protect their legacy. You may not have known but September is World Alzheimer’s Month. As the month comes to a close, it’s important not to forget about Alzheimer’s. Medical research and advocacy are vital causes to uphold. Nevertheless, it is a disease that you and your loved ones might have to face directly, if you have not already. The reality of…
The President last week signed into law the Small Business Jobs and Credit Act, which gained notoriety for establishing a $30 billion loan fund. However, there is more to the Act that could help small businesses. USA Today last week highlighted some of these lesser-known provisions: Sole proprietors can write off health insurance premiums as business expenses this year. Note: Don’t miss this one because it lapses after one year! No fees on SBA loans and increasing SBA guarantee to 90% (from 75%). This should make SBA loans cheaper, and somewhat easier to get. Substantial increase in SBA loan amounts,…
Frederick, MD 
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