As my grandmother used to say, “Growing old isn’t for the faint of heart!” This sage observation was usually in the context of the aches and pains of declining physical (or cognitive) health and she could have easily added “Or, for the skinny of pocketbook!” because healthcare costs—especially long term care costs—continue to grow much faster than most our other expenses. Historically, long-term care insurance was one way to help offset those costs but traditional long-term care insurance providers are dwindling and those that remain are increasing their rates dramatically. Bijan Noori, our guest writer, is an expert in the life and health insurance industry and in this article, he shares an innovative development in solutions to address long-term care insurance needs.
INSPIREDFINANCIAL.BIZ
A Hybrid Solution to Long Term Care - Inspired Financial
“What will happen to my investments if [the candidate I dislike] becomes President?” People are always worried that if the candidate they oppose becomes President, it will be devastating for the markets and their portfolio. It’s hard not to be tempted to “do something.”
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Presidential Election Prognostications and Your Portfolio - Inspired Financial
Often unloved and maligned, reverse mortgages are a tool in the financial planner’s toolkit that don’t see a lot of use. The current interest rate environment combined with ongoing market uncertainty make this a good time to give them a second look. Like any tool in the toolkit, they’re not needed for every job (or every client situation) but for the right one, they’re the perfect solution.
BANKRATE.COM
Low Interest Rates Give Reverse Mortgages New Appeal | Bankrate
At Inspired Financial, we work with a wide variety of professionals that serve our clients in tax, legal, insurance, and other services. We enjoy collaborative relationships with our colleagues and often share our expertise with them to help them better serve all their clients. Recently, we prepared this blog with suggestions for when their clients are facing a prolonged hospital stay. This already unhappy situation can be made much worse without preparation and we thought our clients would appreciate these tips, too. Call if you have questions or we can help you be better prepared!
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Checklist For A Prolonged Hospital Stay - Inspired Financial
While our income tax system has developed significantly since 1943, its broadest adoption all started with the biggest quack of them all: Mr. Donald Duck.
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What America's Biggest Quack and Your Income Taxes Have in Common - Inspired Financial
More than 30 million Americans remain unemployed amid the ongoing coronavirus pandemic, which means many people are looking to the federal government to help them pay bills and stay afloat during these unprecedented times. Here’s how to prioritize paying your bills.
CNBC.COM
Short on cash waiting for the next stimulus checks? Here's how to prioritize paying your bills
Among the many things concerning our clients now, potential changes in tax law pending a change in party in the White House is starting to make its way up the worry list. The differences in tax policy between Presidential candidates Donald Trump and Joe Biden are quite significant. Current polls show the Democratic candidate with a substantial lead, which suggests that all of us should prepare for the possibility of a different tax regime in 2021. But what, specifically, should we consider doing as the elections approach?
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Taxing Our Crystal Ball (or, what a Biden Presidency means for your taxes) - Inspired Financial
With or without a tax write-off, many Americans want to give generously to the charities of their choice. After all, financial incentives aren’t usually the main motivation for giving. We give to support the causes we cherish. We give because we’re grateful for the good fortune we’ve enjoyed. We give because it elevates us, too. Good giving feels great – for donor and recipient alike. That said, a tax break can feel good, too, and it may help you give more than you otherwise could.
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Understanding Donor Advised Funds - Inspired Financial
Mark and I are “drive the car until the wheels fall off” people as illustrated by my 2009 Volvo and his 2010 Subaru. The only way for this strategy to work is to ensure that we’re caring for the cars and servicing them on a regular basis, even when everything seems to be running smoothly. That got me to thinking about another “vehicle” that we “buy” and then “drive” forever—our estate documents. They, too, need periodic attention to ensure that over the years, they continue to serve us as well as the day we created them. Monica Goel, our guest writer and an experienced estate attorney, has guidance for when and how we should maintain our estate plans. We love her suggestions and you can count on us checking under the hood with you!
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When Is It Time to "Service" Your Estate Plan? - Inspired Financial
As we charge towards election day, it feels only right to continue the conversation on what tax policy could look like for individuals in 2021 and beyond.
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A Taxing Race: A look at presidential nominee Joe Biden’s tax plan in the final straightaway - Inspired Financial
Be alert! Knowledge is power in personal protection against the most popular scam tactics. Criminals are opportunistic, and our current environment has provided a perfect storm for increased opportunity. At one time scams, were mostly done via phone calls, but they now include emails and text messages, too.
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Don’t Fall Victim to the Latest and Greatest Scams of 2021 - Inspired Financial
At Inspired Financial, we want to improve the financial health of all women so if you or someone you know is a woman facing financial issues in the Southern California area, please visit www.fpaocprobono.org for financial educational content and free one-on-one sessions with a Certified Financial Planner ™ Professional.
https://qoo.ly/3aakbb
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The Jobless Gender Gap: Women lost 156,000 jobs in December 2020 - Inspired Financial
January is the perfect time to check-in on your mental and physical health—and your financial health is no exception! However, the standard checklist surrounding budgeting, debt management, and saving may need a little re-vamp. Of course, these components are all incredibly important in building and maintaining financial wellness, but what may be missing from your list as you roll up your sleeves for some financial planning in the New Year?
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Revamping Your Financial Checklist in the New Year - Inspired Financial
We are excited to introduce the newest member of the Inspired Financial team, Carol Bobke. Carol recently joined us as an Associate on our Client Services team working alongside Christine Sun. Christine and Carol, combined with our cohort of financial planners—Evelyn, Mark, Maria, and Claire—brings us to a total of six exceptional professionals. Read More ->
QOO.LY
Welcoming Carol Bobke to the Inspired Financial Team
With all the complications this year has brought, your tax situation as a telecommuter may not make it to your Top Ten list—but it certainly should, especially if you worked remotely in a state, city, or municipality different from your office at any time this year.
INSPIREDFINANCIAL.BIZ
Working from home? Don’t let state and local taxes surprise you come April 15th. - Inspired Financial
Has 2020 left you feeling like the fabled Sisyphus, forever pushing a boulder up a steep hill? Thankfully, with multiple COVID-19 vaccines in the works and the Pfizer/BioNTech vaccine in distribution now, there’s hope the load will lighten in the new year, fast approaching. While we prepare for a fresh start, here are six financial best practices for year-end 2020 and beyond, none of which require any heavy lifting.
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Six Financial Best Practices for Year-End 2020 - Inspired Financial
