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Cash Flow

The Emotional Cost of Bankruptcy and Insolvency

Personal bankruptcy is not a topic that is relevant to most of us—until it is. The number of  people filing for bankruptcy over the last 20 years ranges from a low of 374,000 in 2022 to over 2,000,000 in 2005. The top reasons that cause people to declare bankruptcy...

What We Think We’d Do With $1 Million, and What We’d Probably Do

What would you do with a million-dollar windfall? This question was the topic of a survey in a March 28, 2023, article by Jessica Whitehouse in onlinegambling.com, “This is how Americans would spend $1,000,000 in lottery winnings.” Before I read past the headline, I...

Any Bank Can Fail; Why There’s No Need To Panic

I’ve received more emails and calls from clients on the failure of SVB Bank than I did the stock market crash in April of 2020. That tells me there is wide concern today about the stability of the economy and financial markets. When you listen to politicians and...

Creating a Plan for Long-Term Care

Last week’s column concluded that, while long-term care insurance is unaffordable for most Americans, everyone needs a long-term health care plan. Knowing how long you may live is one of the first variables to consider in putting together such a plan. A number of...

Will Your Retirement Resources Cover Long-Term Care?

If you want to stop a conversation cold, just ask a group of friends, “Do you ever worry that you might outlive your retirement income?” The response is likely to be nervous laughter. It doesn’t occur to most people to seriously consider this possibility. The greatest...

Your Biggest Holiday Expense Could Be a Hidden Cost

Consider your Christmas shopping list. What was the most expensive single item on it? That special gift for your partner? The latest electronic gizmo for your teenager? Your family’s holiday travel? Certainly, with inflation hitting a 40-year high, all these items...