Do you have a long-lost retirement account left with a former employer? Maybe it's been so long that you can't even remember? With over 24 million "forgotten" 401(k) accounts holding roughly $1.35 trillion in assets, even the most organized professional may be surprised to learn of their unclaimed "found" money.
“As if the rising cost of gas and groceries wasn’t enough… my healthcare costs seem more expensive these days! After 15 years on Medicare I thought I would have it all figured out, but do you have any tips and tricks for using my benefits to the fullest capacity?”
One of the most important decisions that must be made at some point is where your parents should live as they grow older. Each type of housing option has its advantages and disadvantages. Compare a few options here.
Tax deductions and tax credits lower the amount of taxes owed to the government. Understand the fundamental differences between these two terms here.
When Kelly first came to FAI Wealth Management, she was drowning in paperwork. She had been told to keep important documents anywhere from one year to forever! Kelly was feeling overwhelmed by this mountain of records. She was downsizing and asked her FAI advisor if it was smart to get rid of some of these documents as she prepared to move to her new home. Below is an outline the advice we gave Kelly.
Many people choose to purchase a long-term care (“LTC”) policy to help cover the high costs of in-home health care and nursing care. To help you understand long-term care insurance, here are key terms and benefits. The terminology below is most applicable to traditional long-term care policies but may be found in hybrid policies as well.
Around 70% of adults over the age of 65 will need long-term care (“LTC”) support during their lives[1], ranging from in-home health care to nursing home care. The cost of this care can be high; the average cost of nursing care in Maryland is $127,750 per year[2], and most long-term care is not covered by Medicare beyond 100 days. Fortunately, your financial advisor can help you prepare for this financial impact. For many, a long-term care insurance policy is a beneficial part of a solid financial plan, protecting savings and estate values from being depleted by expensive long-term care. Here are four types of long-term care insurance to discuss with your financial advisor.
The Consolidated Appropriations Act was signed into law on December 27, 2020. This $900 billion coronavirus aid package provides another round of economic stimulus for those in need.
When it comes to holiday contributions, it’s important to keep in mind a few details before giving to any charitable organization.
What’s your plan for paying for long term care as you grow older? Given the cost involved, protecting your retirement funds through advance preparation and a well-conceived strategy is the way to go.
