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Five Life Insurance Mistakes

Unfortunately it’s not enough to stuff your life insurance policy in a drawer and forget about it. Here are some  potentially costly life insurance pitfalls that could escape your notice.

Social Security Benefits Rising 1.7% in 2015

The 1.7% Social Security COLA means the average retired worker will see a $22 increase to $1,328 a month and the average retired couple will get a $36 boost to $2,176.

The Most Depressing Number in Personal Finance

The average American will spend almost $280,000 servicing the cost of borrowing on credit over the course of their life. A new tool from estimates your annual lifetime cost of credit.

Why You Should Start Saving for Retirement in Your 20s

It’s never going to get easy to start investing for your future but if you start in your 20s you tap into the power of compound interest. 47% of 25 to 34 year-old Americans have already started, have you?

When I’ll be 60… Retirement Planning

Rajan B. Shah of Secure Capital Management USA will present a program at the Schaumburg Twp. District Library, 130 S Roselle Rd. (10/30, from 2pm to 3:30pm) on program important retirement-related issues, including: Planning for Retirement – Setting the Stage, Closing the Gap-Investment & Expense Strategies, Investing Wisely to Avoid the Financial Risk of Longer Life Expectancy, and Protecting Your Investments.

Get Medicare Enrollment Help

The Illinois Department on Aging is offering seniors and disabled people free help enrolling in Medicare now through Dec. 7. The program — known as SHIP — is a free statewide health insurance counseling service for Medicare beneficiaries and their caregivers. SHIP counselors can explain the drug, health and supplemental plans available during the annual open enrollment period. The enrollment period started Wednesday. It’s the time to review Medicare Part D, the Medicare Advantage plan or to ensure current coverage is working. To contact SHIP, call 800-252-8966 weekdays from 8:30 a.m. until 5:00 p.m.

Naming a Guardian for your Children

If an unforeseen event would happen and you and your spouse passed away, do you know who would take care of your children?  Estate planning is more than financial.  In the above circumstance you would need to have a personal guardian that both parents could agree on. Here’s a quick rundown on the topic of guardianship.

Should You Rent or Buy?

If you are moving or downsizing, you need to ask yourself what’s best for your situation-should you rent or buy?

Why Early Retirement Backfires

There are countless stories of people who have retired early only to return to work within a year or even within 30 days. So, before you retire, “The Experts” at Wall Street Journal suggest you do some careful planning that goes well beyond just financial security.

Why Women are Losing the Retirement Game

When it comes to putting money away for retirement, women outmatch men. They are more diligent savers and more likely to put a bigger percentage of their paycheck into a savings plan. But when it comes to the final savings tally, women are falling far behind.