Retirement planner: Freeze premiums on long-term care insurance
Long-term care insurance is back in the news as policyholders are hit with ever-increasing premiums -- up 50 to 100 percent. Maybe it's time to finally put the stake in the heart of what most would agree is a failed financial product.
Every young person new to the job market who has an opportunity to contribute to a 401(k) or 403(b) retirement program should be given whatever boost is necessary to encourage them to participate in a substantial way -- even if it means suggesting that they live at home rent-free.
There are two kinds of advisers -- those who make reasonable promises and meet expectations, and those who promise too much and fall short of expectations. The latter are successful at selling their services, but have a client tenure of about three years -- just a little short of one market cycle.
The financial industry is filling the world with a plethora of products that involve guaranteed returns in a variety of shapes and sizes. The genius of these guaranteed products lies in the variety of ways that they obscure the huge commissions and opportunity costs that virtually all of them impose on investors duped by fear mongering.
Until now, the market has never experienced a twelve-month period without at least one 10 percent or greater downdraft.
First, when you leave a company, always roll your money into your own IRA so that it is independent of the plan offered at your new job. With each job change, that IRA should be growing over the years. If you've been talked into rolling all of your current IRA money into your company's plan, roll it back out. It's been kept separate to preserve this option.
Today I'll offer an entire column of my own thoughts while shaving as they relate to what is happening in the stock market and the economy in general.
The following ideas are for people who want to invest in fixed-income investments a little more aggressively to generate higher rates of return -- while learning to live with fluctuating capital values.
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( Steve Wilkie )
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Former President Bill Clinton and former Secretary of State Hillary Clinton to be grandparents.