In August 2018, the Trump administration announced new rules for short-term health insurance plans. It extended the maximum coverage period for these bare-bones plans from 90 days to just under a year, with an option to extend the plans for as long as three years. The White House claimed this move would offer Americans relief … Read more
Finding the right health insurance plan is hard work. There are so many options to choose from and factors to compare — premiums, copays, deductibles, doctor networks. How are you supposed to make sense of it all? It helps to start with a basic understanding of what health insurance is. Knowing how health insurance works, … Read more
No one likes to think about the fact that they’re going to die one day. That may be why so many Americans put off estate planning. They assume they have plenty of time left to live, so they’re in no hurry to make a will. But as the COVID-19 pandemic reminded us, life and death … Read more
My dad is an avid sailor. Notice I said “avid” and not “good.” In his many sailing adventures, he has – among other disasters – been stuck on a sandbar, mired in an oyster bed, and sprung a leak – having to quickly bail while the coast guard drove out to save him. Legally, when … Read more
Many older adults struggle to make ends meet each month. At the same time, they often own thousands of dollars of real estate equity in their home. Meanwhile, their mortgage payment adds to their monthly living expenses. If you or your parents are “house-rich” but cash-poor, a reverse mortgage could solve several cash flow problems … Read more
Feeling house-rich and cash-poor? Many homeowners find equity both gratifying and maddening. They own a valuable asset with tens or even hundreds of thousands of dollars of untapped equity, but accessing that equity is neither easy nor cheap. The first rule of home equity is to remember that it exists only on paper. It doesn’t … Read more
If your home burned to the ground and you lost every single one of your worldly possessions, how much would it cost you to replace them all? You’d need an entirely new wardrobe, all new furniture, new electronics such as TVs and computers, new artwork and decor. New bicycles, new stereo equipment, new kitchen gadgets, … Read more
At the peak of the Great Recession, a quarter of U.S. homeowners were underwater on their mortgage. By 2020, Attom Data Solutions reported that only 6.2% of homeowners with a mortgage were seriously underwater. But that still comes to 3.4 million homes, and Attom only classifies homes as “seriously underwater” when home values drop 25% below … Read more
Most of us take our health for granted. Until it disappears, at which point your whole world changes. That day could come tomorrow, or it could come in 50 years from now. But sooner or later your health fails you unexpectedly, and the ensuing crisis is hard enough without the double hit of a financial … Read more
If you were born in the latter part of the 20th century, you’re part of the largest generation of Americans in history: millennials. And while millennials have diverse needs and desires, some truisms in life hold for every adult, regardless of their generation. They need to develop a comprehensive estate plan just like everyone else. … Read more
