This phase lasts from the day you retire until you are 70 years old. For those who do not plan to retire until well into their 70s, the first two tasks of this phase may occur later. A key purpose of this phase is to create a clear communication channel with your family so information can be shared, questions asked and answered, and decisions made in a calm, supportive way. If inter-generational communication around money has not been part of your family culture, it may be useful to enlist the help of a third party to get the process going….
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If you are applying for Medicaid, the institutional spouse (spouse in nursing home) and their community spouse (spouse not in nursing home) may protect their assets and lifelong savings, retirement IRA etc. by spending those assets on noncountable assets. These expenditures may include: prepaying funeral expenses, paying off a mortgage, making repairs to a home, purchasing a new automobile, updating home furnishings and equipment, purchasing insurance up to $1,500 buying a new home, if under $500,000, (in some states $750,000) puchasing an annuity In the case of married couples, it is often important that any spend-down steps be taken only…
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According to a recent study conducted by MetLife – the Qualified Retirement Plan Barometer – your 401(k) plan is probably falling short, because most plans simply don’t do all that a 401(k) plan ought to do. According to The Wall Street Journal’s MarketWatch, many plan sponsors aren’t offering important plan features that could greatly enhance your retirement savings plan. What features are lacking? Primarily “help tools” and services. Studies show that plan participants who use the “help” tools and services provided by their employers tend to outperform participants who did not use these tools. In other words, if your employer…
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Frederick, MD 
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