Don’t just cross your fingers and hope for the best! Here’s how to enter a second marriage without repeating first-timer money mistakes. [Read more…]
Divorce and Social Security: 3 things you need to know
Wondering how your divorce will affect Social Security? Get your facts straight before you make an irreversible mistake! [Read more…]
Financial Preparedness in Divorce after 50
For many, the fear of the unknown is common in a divorce after 50 (also known as a gray divorce.) The unknown tends to revolve around finances and how to manage individual needs after the divorce.
Today we’ll explore the “unknown” — and what you need to know as you consider your financial needs during and after divorce. I talk about familiarizing yourself with property accumulated during your marriage and the need to work with a good financial planner to help you make sound financial decisions as you move forward. [Read more…]
Health Insurance and Divorce after 50
Fear and anxiety are common in a divorce after 50 (also known as a gray divorce.) There are five common concerns associated with gray divorce, one of which is health insurance.
In today’s episode of Your Money Minute, I talk about health insurance and what you should do when considering your insurance needs in a gray divorce. [Read more…]
Dangers of Ignoring Healthcare Costs in Retirement
Oh, the golden years of retirement. Boating, knitting, quiet hours of gardening, long chats with friends, and… lots of hospital visits?
Yes, healthcare is one of those retirement realities that most people would rather not think about. As life expectancy creeps up, we may have to budget for 30+ years of healthcare expenses post-retirement. Doctor visits, lab tests, medications – medical expenses can really add up, and that’s before we consider hospital stays! The numbers can get scary quickly, so much so that there are online healthcare cost calculators to help you be better prepared (try this one from the AARP).
No matter what your projected expenses look like, I find that being well-informed is the first step towards being well-prepared. Here is what your need to consider. [Read more…]
Financial Advice for Golden-Years Divorces
Knowing the ins and outs of your finances is always a good thing. But for divorcing couples, especially those nearing retirement age, financial literacy is paramount.
I had the opportunity to speak with the AICPA’s Journal of Accountancy and discuss financial literacy for golden-years divorces. You can read the full article here, but I’ve also included a few key takeaways below. [Read more…]