Starting in September 2014, the Social Security
Administration (SSA) will resume mailings at five-year intervals to workers who
have not signed up to view their statements online. The statements will be sent
to workers at ages 25, 30, 35, 40, 45, 50, 55 and 60. The statement includes an
estimate of monthly benefits at various claiming ages. The SSA stopped mailing paper
statements in 2011 due to budget cuts by Congress which resulted in big
reductions in customer service. Don’t wait for the mail; sign up for electronic
access to your account at: http://www.ssa.gov/myaccount/
April 21, 2014
April 16, 2014
April 16 is TWOKAM “Talk with our kids about money” day
"There
are all sorts of ideas to get the conversation started from books you can read
together or crafts like making a piggy bank," says Massey-Wiebe, who is a
financial counsellor at Community Financial Counselling Services, which helps
individuals facing financial difficulties.
"One of the most common things I will hear from people who come in
to talk to me is 'I never learned this at home' and 'I was never taught this at
school.' " www.talkwithourkidsaboutmoney.com
http://www.winnipegfreepress.com/business/finance/having-the-money-talk-255006551.html
9 ways pre-retirees crash their retirement
By Kenn Tacchino
1.
Retire too soon (read: Checklist of Retirement-Date Considerations)
2.
Carry debt into retirement
3.
Claim Social Security too soon
4.
Underestimate your life expectancy
5.
Underestimate health-care costs and needs
6. Using
a life-only annuity instead of a joint and survivor annuity for a married
couple
7. Counting
on continued work or part-time employment
8. Underestimating
inflation.
9.
Choosing to age in place
April 14, 2014
Is your adviser working in your best interests? Understanding fiduciary responsibilities
“A fiduciary is a person… who has
been placed in a high standard of trust. A financial adviser fiduciary has the
legal responsibility and liability to place your interests first — ahead of
their own. Registered Investment Advisors (RIAs) are fiduciaries and are
legally bound to place a client's best interest above the firm's. While you
might think all financial service providers are fiduciaries, most aren't. For
example Brokers are not.” “Some financial advisers say that they are ‘fee-based.’
This is also not the same as ‘fee-only.’ These semantics can lead to the false
conclusion that advisers are fee-only fiduciaries when they are not.” For more
details read Lisa Hay’s advice at: http://www.marketwatch.com/story/is-your-adviser-working-in-your-best-interests-2014-04-10
5 Simple Things to Prepare Now for Your Estate
These documents are easy to assemble and will be
helpful to your loved ones when you pass on.
"An
account list. Prepare a simple document that lists
all of your financial
accounts, your account numbers and contact information for those accounts.
If the accounts have stated beneficiaries, include those as well.
A
folder containing proof of ownership documents. In
a single folder, you should include the deeds to any property you own,
including land and vehicles. You should also include a statement of any
accounts with significant assets – your retirement
accounts, investment accounts, savings accounts and so on.
An
advance directive form for your state. This document will help
your family assess how to handle your medical
needs should you be unable to do so.
Marriage
and divorce paperwork. Make sure you have an
easy-to-locate copy of your marriage certificate if you’re currently married.
If you’re divorced, include copies of your divorce decree from those
marriages.
A
letter to each of your loved ones. Spend some time
writing a letter to each of your closest loved ones, telling them how much they
mean to you and reflecting on some of the moments you shared."
For
more details read Trent Hamm’s blog: http://money.usnews.com/money/blogs/my-money/2014/04/10/5-simple-things-to-prepare-now-for-your-estate
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