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Money Talk
NOVEMBER 30, 2022
There is no question that we are living in very uncertain times (e.g., inflation, stock market volatility) and few things make people more uneasy than uncertainty about the future. What to do?
Money Talk
OCTOBER 20, 2022
The field of behavioral finance blends economics and psychology and acknowledges that people are often irrational decision makers. Everyone has cognitive biases, which are flaws or errors in thinking that can lead to poor financial decisions.
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Money Talk
OCTOBER 27, 2022
While taxpayers have until the tax filing deadline in April 2023 to contribute to an individual retirement account (IRA) for 2022, many people prefer to make all of their current year tax-saving moves before year-end.
Money Talk
MARCH 24, 2022
I recently taught a 90-minute personal finance class for women age 50+. While preparing for the class and delivering it, I noted some major financial concerns of this demographic group that I am personally part of.
Advertiser: Paycor
When it comes to benefits, communication is critical. To help you easily explain your offerings at open enrollment, Paycor created an open enrollment sample letter (and a few tips). Download this free Employee Open Enrollment Letter Template today.
Money Talk
DECEMBER 7, 2022
In my book, Flipping a Switch , I refer to required minimum distributions (RMDs) as “the mandatory flipped switch” (i.e., transition). This is because, unlike many other decisions in later life that involve choices, there is no choice about RMDs. They must begin starting at age 72, unless taxpayers want to pay a hefty 50% tax penalty. In conversations with older adults at classes that I teach, many tell me that RMDs are affecting their income taxes in a big way.
Money Talk
SEPTEMBER 30, 2022
Full disclosure: this blog post is written from a place of privilege for older adults with higher-than-average incomes and/or assets. Many are middle income taxpayers who diligently saved and invested for 4-5 decades in tax-advantaged plans.
Money Talk
DECEMBER 29, 2021
Between December 11 and 31, I have been tweeting about 21 key financial events that took place during 2021 using the hashtag #21MoneyTrends2021. Below is a written summary of these financial milestones and their impact on family finances.
Money Talk
JULY 29, 2022
Widespread data hackings are increasingly common, whether it is a credit bureau (Equifax in 2017), a hotel (Marriott in 2018), an online game producer (Zynga in 2019) a federal government agency (OPM in 2015), or an Internet media company (Yahoo! in 2016). Another common scam is phone calls and e-mails claiming to be from a bank.or Social Security.or the IRS.
Money Talk
SEPTEMBER 17, 2022
I recently attended a local estate planning seminar geared for- and marketed to- older adults. I decided to go “undercover” to see if there was any evidence of manipulative sales practices masquerading as “financial education.” Sadly, I found some.
Speaker: Taylor Padalino - Account Executive, Enterprise Partnerships
In this webinar, we’ll explore how clinically managed fertility benefits can help your company reduce high-cost claims, guide employees toward less invasive care, and retain some of your most valuable employees.
Money Talk
AUGUST 30, 2022
I recently read Retirement Planning Guidebook , a 453-page tome by retirement researcher and American College professor Dr. Wade Pfau, cover to cover. As an age 60+ adult and a CFP® professional, I consider myself fairly well informed about retirement planning topics.
Money Talk
AUGUST 10, 2022
The year 2021 was noteworthy for the “Great Resignation” as about 47 million people quit jobs last year. The year 2022 is equally noteworthy for a “Great Unretirement” as millions of older workers who left jobs during the pandemic decided to come back into the labor force.
Money Talk
JULY 13, 2022
I recently wrote a blog post about doing a mid-year financial check-up in early July so you have six months to work on planned action steps. In this post, I continue the conversation with specific action steps for older adults.
Money Talk
NOVEMBER 3, 2022
Being the author of a book about transitions in later life , I am always on the lookout for new information about this topic. I recently attended a face-to-face class called Retirement-Now What ? that focused on the same transitions I wrote about. The class started with two questions for each participant: are you retired? and are you happy? When it was my turn to respond, I reiterated a long-standing description of my current status: “No, I am not retired.
Advertiser: Paycor
Getting and keeping hourly workers is no longer as simple as offering them more cash. Employees have options. But this guide from Paycor will help you put your best foot forward to recruit, retain, and develop hourly workers so you can remain competitive.
Money Talk
NOVEMBER 10, 2022
Roth IRAs are a popular investment for retirement savings. They are available to workers with earned income (i.e., salary, bonuses, or self-employment) under phaseout limits that are adjusted annually for inflation. Below are answers to nine commonly asked questions about Roth IRAs: What is a Roth IRA? A Roth IRA is a personal retirement account that lets people benefit from tax-free interest growth, providing they meet certain conditions.
Money Talk
JUNE 8, 2022
It is not uncommon for American taxpayers of all ages to have multiple streams of income. Young adults working in the gig economy may have income from a variety of consulting contracts or from a full-time job and “side hustles.”
Money Talk
AUGUST 25, 2022
The words “wealth” and “wealth management” are used frequently in advertisements for financial products (e.g., exchange-traded funds or ETFs and cryptocurrency) and financial services (e.g., specific investment advisory firms). This begs the questions “what, exactly, is wealth?”
Money Talk
OCTOBER 13, 2022
With increasing costs for so many basic necessities, 2022 has been a tough year financially. Many families are trying to “claw back” (a.k.a., recover) the purchasing power that inflation has taken away through a financial “triaging” strategy of increased income, reduced spending, and/or changes in shopping habits and product and service purchases. Looking for ways to improve your cash flow to counterbalance the higher costs associated with inflation?
Speaker: Leslie Neitzel, Chief Human Resource Officer
In this webinar, we’ll share what employers should know about cultural differences in fertility care, how companies can assess whether a fertility benefit is truly global, and what to look for in a fertility benefit that works for all of your employees.
Money Talk
NOVEMBER 15, 2022
One of the largest items in household budgets is car insurance. According to Bankrate, the average annual cost of car insurance in June 2022 was $1,771 per year ($148 per month) for full coverage and $545 for just the minimum coverage required by state law. Of course, individual insurance premiums vary widely according to multiple factors (e.g., driver characteristics, type of vehicle, location of vehicle, and the current economic climate for labor and parts costs).
Money Talk
MAY 5, 2022
This post is excepted from an article that I wrote for my brother Michael's website about preparing for a road trip during these challenging financial times with rising food, gas, and travel expenses. My brother Michael, a professional photographer and avid motorcyclist, started the website Roadcraft USA to share his passion for beautiful scenery and fun and interesting road trips, especially the two-wheeled kind. What do I know about motorcycles and professional photography? Absolutely nothing.
Money Talk
JULY 21, 2022
Almost a year ago, in August 2021, I wrote a blog post for the OneOp Personal Finance team about inflation-fighting ideas for military families. At that time, many experts predicted that inflation would be “transitory” and subside quickly as supply chain “issues” related to the pandemic got resolved.
Money Talk
JUNE 29, 2022
It’s that time again…time for a mid-year financial check-up! We are almost at the halfway mark of 2022, which makes this a perfect time to assess your financial progress and take action over the next six months.
Advertiser: Paycor
With remote work on the rise, salary history bans in effect, and Fair Workweek laws passed, HR compliance has become more challenging. Discover the 7 most prominent HR compliance hurdles of today, and learn how to avoid them detailed in Paycor’s recent guide!
Money Talk
JULY 7, 2022
I recently attended and presented at the 2022 annual meeting of the American Association of Family and Consumer Sciences ( AAFCS ), a professional association whose members help individuals, families, and communities achieve an optimal quality of life.
Money Talk
MAY 18, 2022
Now that 2021 income tax season has been over for a month and the dust has settled, it is time to start some serious tax planning for 2022. Planning now provides seven months to take action and/or implement changes to avoid a stressful “tax scramble” at the end of the year. In an earlier blog post , I described 12 tax planning topics for 2022.
Money Talk
MARCH 18, 2022
A work-around (a.k.a., hack) is a strategy designed to circumvent an “issue” (problem) or challenge. It does not solve the problem or make it go away, but it makes life more manageable and allows people to get things done. Right now, inflation is an issue of concern to many people. Inflation puts upward pressure on prices and makes them rise, leading to a reduction of the purchasing power of a dollar. According to the U.S. Bureau of Labor Statistics, the U.S.
Money Talk
OCTOBER 6, 2022
It’s that time again…time to recap “nuggets” from recent webinars and conferences that I attended. Below is a list, in no particular order, of insights, facts, and recommendations that stood out to me as being original, significant, and/or useful: New Definition of Retirement- The word “retire” does not necessarily mean “stop working.” Instead, it means “not having to work.” Retirement is not a uniform experience for everyone.
Speaker: Leslie Neitzel, Chief Human Resource Officer
In this session, we’ll discuss the complexities of fertility health and all the pieces a fertility benefit should include in order to best support your employees on their journeys.
Money Talk
JUNE 23, 2022
I recently attended a webinar about fraud sponsored by Consumer Action. The title was Fraud and Scams in the COVID-19 Economy. The webinar presented statistics about the incidence of fraud and types of consumer fraud complaints, as well as “red flags” of fraud and tips for working with fraud victims.
Money Talk
MARCH 31, 2022
Last fall, I participated in a group discussion among personal finance content creators (e.g., authors, speakers, bloggers, and podcasters) attending the FinCon 2021 conference. Our topic: financial concerns of older adults. The consensus was there is no “one size fits all” content.
Money Talk
SEPTEMBER 9, 2021
We are now 18 months (March 2020- September 2021) into the pandemic. Worse yet, there is STILL no end in sight.
Money Talk
DECEMBER 8, 2021
Like an umbrella that covers your head to protect you from a rainstorm, an umbrella liability policy “covers” your other property insurance, thereby providing additional protection. Policy benefits start where other polices end. For example, after claims exceed $300,000 of liability coverage on an underlying auto or homeowners policy.
Advertiser: Paycor
Learn how to reduce costs while simultaneously increasing employee morale.
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