I often hear the same thing while working with people here in the states that also have Canadian assets like the RRSP or TFSA. “I work with my Canadian advisor with helping me on Canadian planning and use an advisor here in the states to help with my U.S. planning”. If you aren’t working with an advisor that understands planning issues in both countries, you … Continue reading RRSP Strategies When You Live In The U.S.
About eight months ago, my wife signed us up for a new gym. It was the first time in years that we have been gym members, but she said that she got a great deal on Groupon and couldn’t pass it up. The gym isn’t your typical gym though, more like a boot camp in which I am actually paying to do more burpees than … Continue reading Financial Boot Camp
If you are married and have a monthly pension, the recommendation is almost always to take the Joint & Survivor pension benefit option. This means that while both you and your spouse are living, you will draw a slightly reduced pension compared to a Single Life Annuity. The benefit is that if the pensioner dies first, the spouse will still receive a benefit for his … Continue reading Joint and Survivor Pension Benefit or Insure Yourself?
It should come as no surprise that I hate life insurance in retirement. Unless, you are a business owner, have a large taxable estate (unlikely now a days), or have a special needs child, life insurance is just not necessary in retirement. Yet, one of the most popular questions I get is, “What do I do with this whole life insurance policy when I retire?” … Continue reading Converting Your Insurance Policy to a Roth IRA at Retirement
Roth conversions in retirement seem to be a hot topic and are becoming more common. The recent tax law change, which lowers income tax rates, makes Roth conversions in the next few years even more attractive. Every retirement plan I run with my clients, we discuss the reasons a Roth conversion strategy may make financial sense So, why did I advise recent clients to not … Continue reading Roth Conversion vs. Travel Optimization Strategy
Medicare is confusing. First, you have original Medicare which is Part A and B. Then you have to decide if you want a Medicare Advantage Plan (Part C) or a Medigap Policy. If you choose to go with a Medigap Policy, you need to choose between Medigap Plan A, B, C, D, F, G, K, L or N. Of course, if you choose a Medigap … Continue reading Medigap F vs. G: What’s The Best Michigan Medigap Policy For You?
One of the first questions that I get from most prospective clients is, “What are your fees?” In a world in which you can get the fees, and reviews, for just about every product imaginable on Amazon, financial advisors still work in a world of secrecy. Try going to a financial advisor’s website, assuming they even have one, and try to find what services the … Continue reading It’s The Fees That You Don’t See That Should Scare You