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Blog - Michael M. McDonough, Inc.
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1 day ago
How to Dodge a Market Dip That Threatens Your Retirement

Some solid suggestions here for managing the 'distribution phase' of retirement. With your future standard of living is at stake, maybe we should evaluate specific approaches to arranging your retirement security. Clients report palpable relief and confidence from the personalized and comprehensible plans we help them develop. https://lnkd.in/drx5aRM

The recent volatility in the stock market can make older investors feel vulnerable. Here are some strategies to make sure your money lasts as long as you do.

5 days ago
The Financial Perils of Old Age

Statistics don't lie, but people lie to themselves. The prospect of needing help later in life, and the associated costs, have many naively believing "it's not going to happen to me." Whether self-insuring or transferring risks to an insurer, time is needed to compound the wealth. Forewarned is forearmed.

Larry Swedroe unpacks a resource to help investors navigate the many financial aspects of elder and long-term care.

1 week ago
Disruption: Traditional Vs Digital Business Practices

The on-going transformation to digital business practices is no passing fad, and will only accelerate. Here's a glimpse of digitalization bringing value on a number of fronts, from business formation to procurement to managing customer experiences and marketing.

Digital business practices: Well technically entrepreneurs would still need a loan if they wish to invest in physical stores but popularity

1 week ago
Help Clients Select Proper Fiduciaries

Choice of a capable, strong advocate is an important decision. Clients can benefit from a review of the duties and responsibilities entailed, skillset required by role, and other considerations. Out robust digital library has additional practical insights: http://mmmadvisory.com/resources/

The role of the attorney is greater than you think.

1 week ago
Forget the Trade War. China Is Already in Crisis

Debt of any nature is future consumption brought forward. How and when the overleveraged eventually 'pays the piper' is hard to forecast. That an eventual day of reckoning occurs is not. Like the US and other countries, China's answer to too much debt is more debt, even with diminishing returns to additional borrowing. Opaque financial disclosures only elevate risks.

Even if the second-largest economy resolves the current slowdown, it will remain mired in a debt-driven slump.

2 weeks ago
7 Things Medicare Doesn't Cover

It's important to understand how gaps in Medicare coverage impact your situation. Our collaboration with Medicare specialists can help you evaluate options to optimize your economics. Seniors have until March 31 to switch to a new Medicare Advantage plan or swap their existing plan for traditional Medicare with a Part -D policy.

Medicare Part A and Part B, also know as Original Medicare or Traditional Medicare, won't cover all of your medical needs in retirement. Here's what you need to know.

2 weeks ago
Ongoing Credit And Costs For A Reverse Mortgage

While not for everyone, coordinating a retirement income strategy with a HECM can be preferable to leaving home equity as a last resort once the portfolio is depleted. Choice of lump sum liquidity, monthly income, or an unused line of credit lends flexibility in constructively addressing any of several objectives, such as helping: bridge to social security, with spending shocks, manage tax posture, or avoid inopportune investment sales.

The ongoing costs for a reverse mortgage include interest accruing on outstanding loan balances and servicing fees. Mortgage-insurance premiums and principal limit factors have been adjusted over time to protect homeowners from paying back more than the value of the home.

2 weeks ago
Pre-Pay for Retirement with Deferred Income Annuities

With longevity risk multiplying other retirement risks, those looking to squeeze maximum income from their savings should consider delaying Social Security and buying income annuities. Risk pooling enhances distribution efficiency while providing a more comfortable, less stressful retirement. My team integrates these tactics with asset allocation and draw down advice: http://mmmadvisory.com/wp-content/uploads/2018/12/Understanding-the-Role-of-Luck-on-Your-Retirement-Standard-of-Living.pdf

Deferred income annuities (DIA) have grown in popularity in recent years, and they are poised for further growth as the Treasury Department has simplified procedures for purchasing them in retirement accounts. They are a cousin of single-premium immediate annuities (SPIA), as both offer a guaranteed...

3 weeks ago
Switching to a New Medicare Advantage Plan Gets Easier

Seniors have until March 31 to switch to a new Medicare Advantage plan or swap their existing plan for traditional Medicare with a Part -D policy. Here's a Medicare Quick Reference Guide: http://mmmadvisory.com/wp-content/uploads/2019/01/Medicare-Quick-Reference-Guide.pdf - My office can provide a free, no-obligation consultation with a competent Medicare specialist.

New rules in 2019 give consumers more time and options to change their Medicare Advantage plan if they don't like it.

3 weeks ago
Infographic: 38 Incredible Facts on the Modern U.S. Dollar

Fascinating facts about our fiat money, or currency our government has declared to be legal tender. Not backed by a physical commodity, the value of fiat money is derived from a supply – demand relationship. Our USD has lost more than 95% of its purchasing power since its 1913 creation, as adjusted by Inflation (CPI).

How much currency is printed each year? How long do bills last? Learn 38 facts on the modern U.S. dollar in this infographic.

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