One of my favorite card types to write
This week I’m sending out one of my favorite card types – a card to congratulate someone on paying off their mortgage! For many people, paying off their mortgage is a key component in being ready to retire, because with that step down in expenses their nest egg becomes enough…
Book review – “F.I.R.E. for dummies”
I know Jackie Cummings Koski, CFP, AFC, MSPFP and financial educator, from a number of professional groups and for several years now. She’s one of those people I keep an eye on as being a few years ahead of me professionally, with (like me) a strong interest in sharing her…
What did October 2023’s new segment rate release mean for my pension lump sum? Strategies for cashing out
Back in November 2022, my pension value was updated with the October 2022 segment rate release, and the numbers weren’t pretty, with a drop of 53% of my pension lump sum value. Now that the November 2023 pension value update has happened, does it look any better? How bad is…
SECURE Act 2.0 – what it means for you
The piece of legislature known as the SECURE Act 2.0 has been passed by both the US Senate (Thursday) and House (Friday), and is waiting for the signature of President Biden (presumably after the holidays). The SECURE Act 2.0 is actually part of the 2023 omnibus spending bill – the…
What did October 2022’s new segment rate release mean for my pension lump sum?
First, what is a segment rate? A segment rate is based on the corporate bond rate yield curve – in other words, the change in corporate loan interest rates. When interest rates go down, as they did for the past few years, then the amount a pension lump sum has…
Paperwork 101 – 403b beneficiary designation
Ever had forms that didn’t fit your scenario? Today I received a form I was supposed to fill out, regarding attending an event. The preamble in the form was busy talking about making sure enough food was ordered. I’m attending the event virtually, but there was only one question, and…
What’s this new thing in my 403b statement?
Some people saw a whole new page show up at the back of their 401k when their quarterly statements arrived in early July 2022. If you’re like me, that new page at the back of your 403b didn’t appear until the next quarterly statement arrived in October 2022. And it…
Goodhue County nursing home staff unpaid, and not showing up for work
I hope this the third [1, 2] breaking local news update I have on this long term care issue is the last, but in case anyone is still feeling like “this can’t happen here”, unfortunately our local area is making the news again today with staffing issues at a long…
You and Long Term Care facility worker shortages
Individuals regularly under-estimate the likelihood and duration of their lifetime long term care needs. As of 2019, 47% of men age 65 and older, and 58% of women in the same age bracket, will need long term care during their lifetime. That’s essentially 50% and 60%! Those stays aren’t short…