There are many advantages to working past age 70, one of which is delaying monthly Social Security distributions so you can receive the highest monthly benefit provided for the amount of credits you have earned, notwithstanding exceptions. Senior employees covered by an employer-sponsored high-deductible health care plan also can save more toward retirement by utilizing…

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The housing market continues to experience mixed results, depending on the area of the country and demographics. For example, while the home ownership rate for seniors is 80 percent, about 40 percent of those over 65 were still making house payments in 2010, according to a 2014 report from the joint center for housing. While…

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Amending Irrevocable Trust Conditions in an irrevocable trust, including the appointed trustee (the controller of the trust), cannot be changed by the settlor (the creator of the trust). However, if the trust designates a trust protector (an individual to oversee the trustee), that person will have the power to amend language in a trust to…

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The national average price for a gallon of gas is less than $3, with further decreases expected. But that’s nothing new. Bear in mind that oil is a commodity, so its price varies according to cycles of supply and demand. For example, in 1986 and 1998, oil dropped below $10 a barrel. In 2008, prices…

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The beginning of the year is a great time to start thinking about New Year’s resolutions and review your 2015 financial strategy. Any major life changes that occurred last year or that you anticipate for this year, along with any financial reallocations you wish to consider, should be aligned with your retirement income strategy. Taking…

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For many, the mind stays sharp as long as it continues to be challenged, and the trend of retirees working and living longer proves just that. Take Hugh Lyman, for example. When he retired, this small business owner pursued a long standing passion as an inventor. Fascinated with the possibilities of using 3-D printer technology,…

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For most of us, our actions and behaviors have consequences. When it comes to health and fitness, on both a personal and national level, some of those consequences are financial. For example, studies have shown that employees who exercise at least three times a week experience a higher level of productivity in the workplace than…

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Throughout our lives, we are identified by numbers. Social Security number. Employee ID number. Driver’s license number. How much do you make? How many children and grandchildren do you have? What’s the value of your home? Fortunately, those numbers are simply points of reference; they don’t truly define who we are. Our personal accomplishments do…

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