When it comes to wealth management, seniors often need to realize that they're in a particularly susceptible position because they've generally already finished their careers and are somewhat limited in terms of income. Any increases in income for seniors are generally allowed for by investments. However, seniors need to invest relatively conservatively to avoid comprising their ability to maintain the same living standards in the years to come. The following are five wealth management mistakes seniors need to avoid to ensure a healthy and reliable income over the long term:
21 March 2017
As you get close to retirement age, it's time to start thinking about when you are going to apply for Medicare and Social Security benefits. If you want to continue working, and you are getting close to 65 years old, you can still apply for Medicare benefits without retiring. You should apply for Medicare three months before you are going to turn 65, as you are entitled to these benefits whether you already have health insurance or not.
10 March 2017
No matter who you are, there is always a chance someone might sue you and possibly even win. If you do not have any money or assets, there's really nothing a person could take from you; however, there can be a lot at stake if you have a decent amount of money and assets. While you might not be worried about this, you might want to consider the possibility that a person might sue you.
6 March 2017
When choosing how you want to invest and save money for your future, there are many different types of investments and insurance you can choose from. Here are four benefits you will get from buying an annuity. Choose From Several Types of Annuity Options As you look into the option of an annuity for your retirement investment, you can select from several different types of annuities. An immediate annuity is a type of annuity that you would purchase if you want to immediately begin receiving payments from it.
31 August 2016
If you are looking for a gift for a graduating college student, you might look into several long-lasting investments that will help them start their life on solid financial footing. You have many options with varying price ranges including CDs, bonds, stocks, and pure cash. One gift that some college graduates might benefit from, but is often overlooked, is a planning session with a financial advisor. While a two or three hour session with a financial advisor may not be the most glamorous of gifts, it is a highly beneficial gift that could help put the recipient on the correct financial path for their future.
3 April 2015