Note: My Dad passed away on 18 November 2017 from end-stage Alzheimer's. This post is about my experiences with his insurance during the years 2011-2014. There are hundreds of posts on the pros and cons of long-term care insurance, but most of them approach the question from a financial perspective. Today we're going to look at other aspects of … [Read more...] about Why I Won’t Buy Long-Term Care Insurance
Military Family - Spouses & Dependents
I write about military financial independence, but I'm getting a lot of e-mail about navigating the drawdown and starting a bridge career. I'm also hearing from Reserve and National Guard servicemembers about balancing their military careers with their civilian employers. Veterans (and military spouses) know that their transition to a civilian … [Read more...] about Hiring Our Heroes: Teaching Employers To Hire Military Veterans And Spouses
Have you had the financial independence talk with your parents? (No, I don't mean the one about college costs and student loans, or the one about helping out with your down payment on your first house.) I'm talking about the one where you hope they'll talk about their health and tell you how to manage their finances. The advice is in … [Read more...] about The Pitfalls of Your Parents’ Finances
Now that the 2013 tax planning is over, let's talk about 2014. A reader asks: I think you mentioned before that you set up an IRA for your daughter. How did you account for wages and a W-2? Did she work for you or earn income from someone else? I've set up a Roth IRA for our teen for work done around the house, but my accountant is telling me that … [Read more...] about Start a Roth IRA For Your Kid
[Update: my father passed away due to Alzheimer's in November 2017.] It's been a few months since I posted about Dad. He's still happy and healthy in the care facility, and he's a little deeper into mid-stage Alzheimer's. (In his mind, he's consulting on-site about their electrical engineering needs-- just as he did in his career for nearly 30 … [Read more...] about How I Cost My Dad Over $2000 in Medicare Benefits
[Note: some of the details have been edited to hide the reader's identity.] A reader writes: "In my divorce decree I was awarded part of my husband's Reserve "disposable military retirement pay". My portion is 50% of the time for which we were married, and only for the Reserve points that he earned during our marriage. But the problem is not … [Read more...] about Protecting Your Military Benefits In A Divorce
A reader writes: My husband was commissioned after ROTC in August 1966, placed on an educational deferment, and did not start active duty until February 1968. How many retirement points did he earn over that period and where is a regulation that addresses this? After some more questions, I learned: The time from commission to active duty had no … [Read more...] about Divorce And A Military Reserve Pension
A reader writes: "If my ex husband was active duty for 10 years and 20 years Reserve and he has 5300 retirement points at the rank of O-6, how much will he receive? I will receive 50%." After exchanging more e-mail, we learned that her ex-spouse is under the Final Pay retirement system (for those starting their military service before 8 September … [Read more...] about Military Retirement and Divorce – How Does a Divorce Impact Military Retirement Pay?
Very long post today (3000 words) but you have the time to read it-- and it's worth reading. Especially if you're interested in genetic testing. Here's my 23andMe Genetic Testing Reviews. A genetics researcher and director of the National Institutes of Health once said: "Genetics loads the gun and environment pulls the trigger." I think a more … [Read more...] about I Tried 23andMe Genetic Testing & Here’s My Review
[Long post today: nearly 3000 words. Take the weekend to read it, and spend some time digging into the links. This analysis may not save your life, but it can certainly save your finances.] A few weeks ago I received an e-mail from a representative of the nonprofit organization LIFE: "As more and more Baby Boomers enter their retirement years, … [Read more...] about Interview: What’s Wrong With Long-term Care Insurance?