A recent study on Safeguarding our Seniors conducted by Allianz indicated that elder financial abuse is becoming more commonplace and appears to be greater than we thought in both scope and impact. This latest study also exposed the damaging effects of abuse extend well beyond the seniors themselves to their caregivers.
There are numerous prognosticators purporting extreme valuations by the so called “perma-bears” who tend to cost investors more than they save them by warning of a doom and gloom market scenario. We have indeed seen valuations run up to the latest forward PE ratio on the S&P of 17.8x forward estimates vs. 15.9 for the 25 year average. This is certainly no bargain pricing but neither is it extreme as we saw in 1999 when the S&P was valued at 25x forward estimates. Please see below the latest comments from Andrew Adams, the Raymond James Financial Strategist working with the well -seasoned Jeff Saut in an excerpt from Morning Tack dated 3/14/17 (a full copy is available upon request):
It’s been a few years now to get familiar with the Medicare payroll tax and surtax that went into effect at the beginning of 2013. If you need a reminder, taxpayer with modified adjusted gross income (MAGI) of $200,000 for individuals or $250,000 for couples filing jointly face a 3.8% surtax on net investment income or the amount of MAGI that exceeds the thresholds prescribed for high-income taxpayers. The second 0.9% Medicare payroll tax applies to wages and self-employment income over the same MAGI thresholds. And while we may have gotten more used to the higher tax, that doesn’t mean we shouldn’t look to smart planning to avoid overpaying. Talk to your financial advisor, alongside your accountant or tax advisor, to identify and implement the strategies that are most advantageous for your situation. Here are some options to consider.
Caregiver Stress can be tough and it’s important to be aware of caregiver burnout. As a caregiver, you must take care of your own physical and mental health in order to provide quality care.
There’s no doubt about it. Filing for Social Security can be daunting. There are several factors to consider:
Whether you're in your 20s or your 50s, there are steps you can take to help ensure a comfortable, secure retirement.
As the saying goes, “Life is short, eat dessert first” but when it comes to planning for retirement, viewing your life from the end and planning along the way, taking small steps over the course of years and decades means you’ll likely be fully prepared in the long run. Over the years, I’ve seen a wide range of people from those totally prepared to those who’ve not even begun to think about their plan until it’s WAY too late. Successful retirees will tell you that to reach your goal you have to start as soon as possible – regardless of your age. Whether you are in your 20s or your 50s, there’s something you can be doing to help you go the distance toward a comfortable, secure retirement.
Many homeowners and several of our clients over the years have raised the question on paying down debt with extra cash or other liquid investments. It really all depends on a few key questions.
Americans are living longer, and that means a higher chance of requiring long-term care. Retirement is a major milestone that brings many life changes. One thing that doesn't change for most people: the fear of running out of money. According to the Transamerica Center for Retirement Studies, “the most frequently reported retirement worry is outliving savings and investments. Across all ages, 51% of respondents cited this concern, and 41% of retirees claim the same fear. Additionally, only 46% of retirees think they've built a nest egg large enough to last through retirement.” Here are five reasons we believe clients dangerously deplete their retirement savings:
National authors William Strauss and Neil Howe who are mostly credited with originating the name in 1987, define Millennials as born between 1982-2004. Strauss and Howe ascribe seven basic traits to the millennial cohort: “special, sheltered, confident, team-oriented, conventional, pressured, and achieving.” American sociologist Kathleen Shaputis labeled Millennials as the Boomerang Generation or Peter Pan generation, because of the members perceived tendency for delaying some rites of passage into adulthood for longer periods than most generations before them. These labels were also a reference to a trend toward members living with their parents for longer periods than previous generations. 1 (See the movie Failure to Launch- LOL)
Many of our clients are wondering if their spouses are going to say them once they retire and are under foot at home, “honey, I married you for better or for worse but not for lunch”. So many people try to imagine their life after retirement without stress, responsibility and quotas but what is it that will keep them challenged, in-shape and continuing to live with a sense of purpose?
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