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When it comes to retirement planning, one of the most common mistakes people make has nothing to do with their investment strategy or savings rate. It's a fundamental misunderstanding of how long they're likely to live. If you've heard that life expectancy in the U.S. is around 78 years, you might assume that at age 65, you only need to plan for about 13 more years. But that math is completely wrong, and it could leave you running out of money in retirement. The Real Numbers:...

Planning for the potential for expensive healthcare at the end of our lives is one of the least exciting parts of retirement. However, it's a real and significant part of financial planning. According to the Administration for Community Living, a federal agency, almost 70% of people turning 65 years old today will eventually need some type of long-term care (LTC). Even a few years of long-term care can be a major financial burden. Genworth Financial, one of the larger...

Every year around this time, I get flooded with questions from people on Medicare or approaching Medicare age — and almost all the marketing they’re seeing is for Medicare Advantage. That’s not an accident. Insurance companies and salespeople push these plans like crazy because they make big commissions when they sign you up for an Advantage plan instead of traditional Medicare. These plans have become so common that about half of all Medicare participants are now enrol...

I read the financial press every day and stay on top of the latest threats to your money. Recently, I came across an article written for a corporate audience, and it was a real eye-opener. It was all about the problems companies are having because of a sneaky crime called "SIM swapping," and how they're all playing this hot potato game of who is going to be left holding the bag. So, what is a SIM swap, and why is it such a problem? Why SIM Card Swapping is a Dangerous Scam...