The Longer You Live, The Longer You Live

The longer you live, the longer you live. So plan for a long life. Those who are older have longer life expectancy than younger people because they have survived their early years. This is just one reason why you need to plan for a long life. This slide shows the probabilities of someone who's 65 today living to various ages. Six out of ten 65 year-old men will live to age 80 or longer as will seven out of ten 65 year-old women. It's an important factor in marital status when determining your investment time horizon because the likelihood that at least one member of a married couple will live to various ages is higher than the odds of a single individual. As a result, there's almost a 50/50

Financial Survival After a Job Loss

A job loss is not the end of the world, even though it may feel that way. Mapping out your priorities and drafting a bare-bones budget can help you come up with your own financial strategy for job loss survival. You may have lost your job already, or it's something you're concerned about. Either way, the keys to surviving a job loss financially are to plan ahead, take stock of your income, and cut your expenses. Plan ahead If you haven't been laid off, it's a good idea to plan ahead for that possibility. It's hard to know how long you'll be out of work, so to be on the safe side, prepare for at least six months of unemployment. You might find a job much sooner, but you don't want to be force

A Mountain of Risk?

I would not describe myself as a risk taker. However, some may disagree with me. I ride a motorcycle, I backpack into the “backcountry” (often where cell phones don’t work) and as you read this I will be on my way to Mount Everest. How then, can I say I am not a risk taker? Understanding Probabilities From 1921 to 2006, the mortality rate for Everest climbers was 1.3%.* To put it into context, traffic accidents are the 9th leading cause of death and account for 2.2% of all deaths globally.** Statistically, driving a car is more likely to result in a bad outcome than going to Mount Everest. As I prepared for my climb, I spent considerable time researching everything from the environment,

New Medicare Cards are Coming

If you receive Medicare, you will be getting a new Medicare card in the mail. To help prevent fraud and fight identity theft, Medicare is removing Social Security Numbers from Medicare cards. Your new card will have a new Medicare Number that's unique to you. When are new cards being mailed? Medicare will be mailing new red, white, and blue paper Medicare cards between April 2018 and April 2019. Card mailings will be staggered, so the timing will depend on your geographical location. Newly eligible people will begin receiving the new cards starting in April. The following table from the Centers for Medicare & Medicaid Services shows when Medicare will be mailing cards to existing Medicare re

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