Should you self-insure for long term care insurance? Should you consider buying LTC insurance or roll the dice. These are the types of long-term care insurance questions I often get when helping clients. Long Term Care insurance, like any other type of insurance, may be an important part of your personal financial plan. Without a solid foundation that protects your wealth, you can easily ... Read More
Insurance
Financial Planning Roadmap
Wouldn't it be nice if money came with a user manual or a road map? Well, here it is, folks. You have asked and the financial planning powers that be (or at least the folks at Bloomberg BusinessWeek) have answered. Click here for the Financial Planning Flowchart. For the Do-It-Yourselfer in all of us, this fun, interactive chart is a great tool. But like any tool, it's not right for all ... Read More
401k Hardship Distribution for Medical Expenses
Ask the Money Coach: My mother got into a car accident and can not make decisions on her own. I am currently her power of attorney. How can I cash out her 401K to pay for her expenses? She has been out for over a week and doctors expect her to be disabled for quite some time. I need help to pay for everything so how can I get access to her 401k? Response from Boston Money Coach: Please accept ... Read More
Ask the Adviser: Planning for the New 3.8% Medicare Surtax
What can I do now to minimize the impact of the new investment tax? My wife and I have an adjusted gross income of over the $250,000 and we're wondering if there is anything that we can be doing now to minimize the impact of the 3.8% tax. If we're near that $250,000 threshold would it be wise to funnel any money above it into a retirement plan? Or are there any asset classes where the tax doesn't ... Read More
5 Things Your Boston Divorce Attorney May Not Tell You
Divorce, like bankruptcy, used to be a "four-letter" word: uncommon, infrequent, shunned by society and a Scarlet Letter of sorts on those going through it. People avoided associating with "those" sorts of people probably for fear of "catching" something. If you watch Mad Men (on AMC) then you recall the first season when the "divorcee" lived in the neighborhood and no one wanted her ... Read More
Planning Tools for College, Taxes and More
Financial planning is like life: A Journey, not a Destination. These resources are here to provide useful guides and maps along the way. These are just tools. A hammer and chisel are just tools. But handled well and in the hands of a craftsman, they can create masterpieces. If you need help crafting your personal masterpiece, we welcome being a part of your team. Useful Guides from ... Read More
Death and Dealing with the Unexpected
Saturday was a beautiful spring day in New England. Temperatures were moderate. No humidity. It was bright and sunny with languid puffy clouds hanging in the noon time breeze. A beautiful day to be outside especially after the gloomy weather that Mother Nature has thrown at us during the winter and spring so far. A beautiful day for gathering with family and friends and celebrating the ... Read More
Homeowners Insurance Versus You – Protect Yourself
No doubt about it. This has been a very rough winter that we lived through here in the Boston area. While the calendar has turned to spring, many of us are still trying to fix the damage left behind by snow and ice from so many winter storms. As I write this it still seems like we have imported the weather that Seattle or Portland, Oregon might be know for (even if it is true that Seattle has ... Read More
