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Jan
11

Making Charitable Donations from your IRA

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If you have reached age 70½ and are evaluating charitable giving options, you may consider making a charitable donation directly from your IRA.

The benefits

Contributions made directly from your IRA to a charity reduce the taxable portion of your IRA distributions and count toward your annual required minimum distribution (RMD).

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May
13

Long-term Care Insurance

Long-term Care Insurance
Understanding the risks of needing long-term care and the possibility of incurring substantial expenses is a huge part of financial planning. Proper planning can allow a person to avoid not being prepared for the need for care as you age. Over the last century medical science has been able to greatly increase life expectancy. Individuals are living on average 20-30 years longer and sometimes need assistance with day to day needs. Long-term care is now offered in a variety of settings, such as; nursing homes, assisted living residences, life care communities, adult day-care or even in person's home. A person's health status affects the likelihood of incurring a long stay with catastrophic expenses. It is imperative that you weigh all the risks involved with purchasing or not purchasing insurance. Likewise, understanding what you may need in terms of coverage is prudent. A few tips when shopping for a Long-Term Care Insurance policy are: Buy a policy with a ...
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