How Will You Deal with Long-Term-Care Costs?
Life expectancies have increased significantly
and are expected to continue to increase in the future. As people
age, however, they are more likely to develop conditions that
limit their ability to live independently. Thus, as life expectancies
increase, so does the need to make provisions for long-term-care
costs.
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Regularly Review Your Life Insurance
Periodically, you should review your life
insurance policies to ensure that they still meet your insurance
needs for your current situation. A divorce, change in income,
or death or illness in the family are all factors that significantly
impact the amount of life insurance you need.
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Assessing Your Investment Risk Tolerance
Your individual risk tolerance will significantly
affect the look of your portfolio, so you should have a good understanding
of what it means and how it is applied to your investments. While a high-risk portfolio may look good
on paper, how those investments will affect your behavior and
emotional state should be taken into consideration.
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Dealing with Bond Price Fluctuations
There are two primary factors that affect
bond prices - interest rate changes and credit rating changes.
Interest rate changes typically will cause a bond's value to fluctuate
more than credit rating changes.
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Spousal IRAs: Contributing Together
Perhaps you are a stay-at-home parent. Or
your spouse is a professor on an unpaid sabbatical. Maybe your
spouse decides to take time off to write a book. Even though you
are not working, you still need to consider retirement plans.
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