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Tag: Retirement Planning

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...

Will A Senior Living Facility Cost Your Kids An Inheritance?

One popular money script is, “I need to leave an inheritance to my kids.” Yet choices that parents make based on this money script can actually result in both failing to leave an inheritance and even costing children money. Here is one way that might happen. My town...

When “Financial Planning” Is Not Financial Planning

Whenever I surf television cable news channels, I can’t help but notice the plethora of ads for financial planning. Some of them sound compelling, even to me. I often find myself thinking, “Dang, that’s exactly what we do.” Then I notice the...

Middle-Class Millionaires Are Far From Billionaires

Suppose you have a net worth of one thousand dollars, while your friend has one million dollars. Would you consider yourselves to be in the same financial category? Almost certainly not. The comparison is absurd. Your friend’s one million is a thousand times...

Frugality Syndrome: Saving To Spending

I have exhibited tendencies toward pyromania most of my life. As a Boy Scout, my favorite activity was starting and stoking a campfire. As an adult, my best birthday gift ever was a flame thrower designed by my son which made quick work of a pile of pinecones and...