Your social security benefit is based on your earnings averaged over most of your working career. Higher lifetime earnings result in higher benefits. If you have some years of no earnings or low earnings, your benefit amount may be lower than if you had worked steadily. Early Retirement You can start your Social Security benefits as early as age 62, but the benefit amount you receive will be … [Read more...]
Divorce Financial Planning
Financial planning can be complex and difficult under the best of circumstances. Financial planning in the context of a divorce represents a different level of complexity. These are the times when having the support and guidance of an experienced Certified financial planner can be invaluable.
The list of things that you might have to consider is extensive. Consider whether any of these items are pertinent to your case:
- Child support
- Separate property (inheritances or pre-marriage assets)
- Executive benefits (stock options, restricted stock, bonuses)
- Can you afford to retain the home?
- College expenses
- Debt payments
- Small business owned by you or your spouse
- Medical insurance to provide post-divorce coverage
- Tax effects of the divorce
- Right to spouse's social security
- Right to spouse's pension
Are you prepared to address this list of issues without professional help?
We offer recommendations in our extensive list of articles for your review. Use the search box to find topics. When you are prepared to begin work and want to talk about your situation, give us a call and let us help you through this time!
General Recommendations for Long-term Care Policies: Once you buy a policy, don’t stop paying the premium. If financial circumstances require that you do so, Texas law requires companies to offer you the option to receive a percentage of the benefits you purchased. You can lower your premium by choosing a longer elimination period. Just be sure you consider how long you can afford to pay … [Read more...]