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Life Insurance After 50: Still Make Sense?

Once you pass 50, your life insurance needs may change. Perhaps the kids are grown and financially secure, or your mortgage is finally paid off. If so, you may be able to reduce or eliminate coverage. On the other hand, a disabled dependent or meager savings might require you to hold on to life insurance … Read more

Wanna' Navigate? You Gotta' Design!

“Design is the soul of a man-made creation”. –Steve Jobs.

 

“Everyone designs who devises courses of action aimed at changing existing situations into preferred ones”.–Herbert Simon, Social Scientist and Nobel Laureate.

 

As I look out over the landscape of what I call the “Final 1/3 of Life” (age 60-90) in America today I see an uncharted territory.  Never before have all the forces attendant with the present chaos in the economy, the questions surrounding health care, longer life spans, eroding assets and shifting family structures come together to make the way forward feel so slippery, so treacherous.

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White Lies and Worse

On issues ranging from medical decisions to finances and housing, with their paternalistic caregivers families sometimes face a choice between honesty and, to their minds, warranted deception that’s in the older person’s interest. See the full New York Times story here…

Raising Medicare's Eligibility Age Is Back on the Table

The hospital industry has mounted a fierce lobbying campaign to persuade Congress to raise the Medicare eligibility age from 65 to 67 by 2014.  The hospitals are making the push in order to avoid billions of dollars of cuts in their future Medicare payments. The deficit reduction plan agreed to by Congress calls for a … Read more

New Reverse Mortgage Product Has Lower Upfront Costs

A new mortgage product is making “reverse” mortgages more affordable. Reverse mortgages typically have high fees, but the new Home Equity Conversion Mortgage (HECM) Saver allows borrowers to get a reverse mortgage with lower upfront costs as long as they are willing to borrow a smaller amount. A reverse mortgage allows homeowners who are at … Read more

What Is The Average Retirement Age Today?

Since working longer is the key to a secure retirement for the vast majority of older Americans, it is useful to take a look at labor force trends for those under and over age 65 for the last century. This report from Boston College sheds light on a common question individuals and couples face when … Read more

Prenuptial Agreements for Seniors = "Smart"

When “shallow” Seinfeld character, George Costanza, attempted to get out of  his wedding engagement by asking his fiance for a prenuptial agreement she cracked up, laughing in his face. Why? Because George had no assets whatsoever  to speak of.  He’d have to figure out another ploy for remaining single. But having no assets whatsoever is … Read more

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