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Facing reality may require some ‘pension pinching’
In recent years, soon-to-be-retirees from all walks of life have been forced to face the reality that their future income stream might not be nearly as bountiful as they once had imagined. Of the 77 million baby boomers now nearing retirement, many are in danger of running out of funds prematurely, according to experts. Surprisingly, even the wealthiest individuals are at risk, particularly as insurance premiums and other healthcare costs continue to escalate beyond past estimates.
Should living trusts receive retirement benefits?
Living trusts are revocable trusts created during a lifetime for many reasons, including avoiding probate. Retirement benefits often are major assets in an estate. Should the two go together? Individual retirement accounts, 401(k)s and similar plans are an attractive way to build wealth for retirement. One important feature of such plans is that income tax on the growth of your investment is deferred. Another feature normally applicable to such plans is the concept of required minimum distributions.
Timeshares: Investment or vacation convenience?
Most of us have been approached by a timeshare representative while on vacation or traveling for business. The offer sounds too good to be true: Just listen to a short presentation about a wonderful investment opportunity, and you will receive a fabulous prize. But with timeshares, things aren’t always what they seem.
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