Age discriminationagainst people age 50 and older robbed the economy of $850 billion in 2018,according to a new AARP report.Research shows thatthe 50-plus population contributed 40 percent of the U.S. Gross DomesticProduct, or GDP, in 2018, creating 88.6 million jobs and generating $5.7trillion in wages and salaries through jobs held...
By Beau RuffSometimes theconcept of financial planning is considered distinct from the more laboriousand esoteric task of estate planning.The financial planis the “low hanging fruit” that is first to be addressed. However, in manyimportant respects, the two should be considered contemporaneously to establisha more robust, holistic plan.A brief review ofeach...
By Ben MessingerFor many of us, retirement funding is acentral fixture of our financial plan and one of the most importantconsiderations is determining the income necessary to sustain a desiredlifestyle. Knowing the true income need for yourlifestyle is the foundation of determining what capital resources must beacquired, which is then...
AARP Washington ischampioning a bill to require employers that do not offer retirement plans tomake an “automatic enrollment” Individual Retirement Account available to theirworkers.House Bill 2516, the“Secure Choice Retirement Savings Program,” was pending in the House ofRepresentatives in mid-February.AARP says the bill isa necessary antidote to a retirement crisis that...
By Shelley KennedyIt might not have made the headlines but a recently passed piece of legislation could affect the individual retirement accounts and 401(k)s of millions of Americans beginning in 2020. So, if you have either of these accounts or if you run a business, you’ll want to learn more.The...
Practitioner to retire, return to first career as welderWhen Bob Tollison, aTri-City chiropractor, wants a workout, he doesn’t head to the gym. Instead, hispreferred fitness routine is a visit to the Plumbers and Steamfitters LocalUnion 598 in Pasco, where he dons his gear and perfects his welding skills.The skills needed...
Forever Friends plan aids pets after their owners dieMany seniors’ wills include provisions for who gets their dog,cat, horse, guinea pig or other furry or feathered friend when they die.But what if the appointed guardian for the surviving pets can’t orwon’t take them? What if the pets unintentionally end up...
By Eileen L. GriffinA recent Wall StreetJournal column attempted to dispel the myth of an impending retirement crisisin the United States. It said most private sector employees are well preparedfor retirement, having saved and invested for many years with bothemployer-sponsored plans and Individual Retirement Accounts. Recent dataindicates 61 percent of...
Marie Duncan has been living alone for 45 years and she’dlike to continue to enjoy her “little view of the river” from her Kennewickhome for as long as she can.The 92-year-old credits the Tender Care Village for enablingher to remain independent at her own home.“It’s just wonderful. I just can’t...
By Beau RuffProperty owned by aspouse does not automatically transfer to the surviving spouse at death.Instead, something more is needed in the estate plan to accomplish this feat. In all the complexityof the estate plan, the community property agreement is one document inparticular that offers simplicity, and yet still is...
