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Social Security is still retirement ‘cornerstone’

The Bakersfield Californian July 8, 2011 AARP, the powerful nationwide organization that advocates for older Americans, recently sent shock waves through the ongoing, divisive debate over the future of Social Security. Long an opponent of any change, AARP announced that it would consider “modest” reductions in benefits to keep the program solvent for generations to … Read more

Boomers, do the math before ‘strategically defaulting’

The Bakersfield Californian June 9, 2011 They are called “strategic defaulters.” As home values continue to fall and the economy continues to struggle, their numbers are climbing, including among baby boomers, who are nearing retirement or who already have retired. Boomers “strategically” defaulting on their mortgages — sending the keys to their homes back to … Read more

How grandparents can help pay college expenses

The Bakersfield Californian June 3, 2011 Financial help and encouragement from my family helped me get through college and established in a career as a financial planner. With the cost of attending college soaring today, students are depending more and more on their families for financial aid. Government financial aid programs of the past are … Read more

Divorce misstep after 50 can be catastrophic

The Bakersfield Californian May 13, 2011 Fans are watching in horror as the fallout from the bitter divorce war of Jamie and Frank McCourt, the owners of the Los Angeles Dodgers, jeopardizes a long-treasured baseball franchise. With accusations flying, the meltdown of the McCourts’ 30-year marriage has become so toxic that the commissioner of Major … Read more

Boomers, plan your encore career before retiring

The Bakersfield Californian April 8, 2011 Another poll and another indication that baby boomers are just plain frightened about their retirement financial security. Released this week, the Associated Press-LifeGoesStrong.com poll found 44 percent of the boomers surveyed expressed little or no faith that they would have enough money when their careers end. Only 11 percent … Read more

Don’t let long life be ‘bum luck’

The Bakersfield Californian March 25, 2011 How long can I live? That seemed to be a question the guy should be asking his doctor, not his financial planner. But across my desk sat a 49-year-old client, who wanted to know just how long he could live until his retirement savings – bank deposits, 401k investments … Read more

Bad news for boomers relying on 401(k) plans

The Bakersfield Californian March 4, 2011 The 401(k) generation is retiring with savings plans that are falling way too short. And if that news isn’t bad enough, try this: Many 401(k) plan managers have conflicts of interests. They charge fees, offer advice and direct funds more for the managers’ benefit than for the investors’. Those … Read more

Silver tsunami heads to retirement shore unprepared

Bakersfield Life Magazine February, 2011 They have been called the “pig in the python.” They are the baby boomers who comprise a huge bunch of people born after World War II, from 1946 to 1964. They swelled the historically “flat” demographic line as they grew out of diapers, overwhelmed American schools, consumed the job market … Read more

Take control with a retirement plan

Bakersfield Life Magazine February, 2011 A local nurse who attended a retirement planning course I conducted through the Levan Institute for Lifelong Learning at Bakersfield College, came into my office recently seeking a second opinion regarding an investment. Two years ago, she bought one of the most expensive investments on the market that had management … Read more