What is a Viatical Settlement?

Oct 13, 2020 12:00:00 PM / by LISA posted in Viatical Settlement

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Surprisingly, viatical settlements are not as well-known as they should be. Many people, despite possibly benefitting from the choice to arrange for a viatical settlement, don’t know about them or discuss them. Nevertheless, a viatical settlement is a lucrative arrangement for people suffering from a terminal disease. These people are able to sell their life insurance policy at discounted rates and obtain cash, which can help with financial hardships or other needs. Buyers cash in the policy’s full amount after the death of its original owner. While distinct from life settlements, viatical settlements are also a useful asset for people in specific situations.

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Life Insurance as an Asset

Sep 16, 2020 1:01:07 PM / by LISA posted in Hidden Asset, Life Insurance

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On the surface, life insurance seems like a straightforward type of insurance policy. But could it be a financial asset? That depends on the type of life insurance policy, as well as your perspective. Some types of life insurance, as well as several other insurance types with cash value components, count as assets. This should be kept in mind for many events, such as divorce and other legal proceedings, but also because they may aid you in obtaining financial security when and if it is ever necessary.  

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What Is A Life Settlement?

Aug 28, 2020 9:44:09 AM / by LISA posted in Alternatives to Lapsing or Surrendering

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A life settlement is the sale of an existing life insurance policy to a third party for more than its cash surrender value but less than its net death benefit. In a life settlement transaction, the policy’s owner transfers ownership of the policy to the buyer in exchange for an immediate cash payment and, in some instances, a reduced interest in the death benefit for the policy’s beneficiaries.

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Life Insurance Settlement Association Unveils Focus on Legislative Affairs and Announces New Board of Directors at 25th Annual Fall Life Settlement Conference

Oct 21, 2019 12:00:00 AM / by LISA

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Nashville, Tenn. — October 15, 2019 — The Life Insurance Settlement Association (LISA), the oldest and largest trade association representing members of the life settlement industry, hosted its 25th Annual Fall Life Settlement & Compliance Conference this week in Nashville and rolled out an aggressive strategy for encouraging legislation that protects a consumer’s right to sell a life insurance policy.

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Four Ways To Remain Mentally Sharp In Retirement

Mar 6, 2019 12:00:00 AM / by NAPSI

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(NAPSI)—Many retirees share a fear of gradually losing their ability to think as clearly as they used to or remember simple information such as other people’s names. And while everyone has the occasional “senior moment,” medical research indicates that aging by itself is generally not a cause of cognitive decline.

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Four Retirement Readiness Fixes For Baby Boomers

Dec 21, 2018 9:50:00 AM / by Darwin Bayston, CFA

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(NAPS)—The Stanford Center on Longevity’s 2018 “Sightlines Report” found that baby boomers have accumulated less household wealth and carry more debt in comparison to previous generations of American retirees.

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4 Ways to Downsize in Retirement

Aug 20, 2018 10:20:00 AM / by Darwin Bayston, CFA

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A common decision that faces nearly all seniors at some point is when to begin “downsizing” for retirement. Many older Americans who have lived in the same house for decades eventually conclude they just don’t need as much room in retirement as they needed while raising their families — and in fact the extra space isn’t worth the expense and time required for its maintenance. The fact is that downsizing isn’t a concept limited to the size of your house or the amount of possessions sitting in boxes.

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How to Embrace the New Era of “DIY” Retirement Funding

Jul 13, 2018 8:53:00 AM / by Darwin Bayston, CFA

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In previous generations, it was common for an American to land a job at a stable company, work for that same employer for decades, then retire one day with the proverbial gold watch and a nice pension to supplement their monthly Social Security checks.

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Protect Your Health By Protecting Your Retirement Savings

Jul 1, 2018 8:46:00 AM / by Darwin Bayston, CFA

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(NAPSI)—Anyone who has ever seen a retirement account take a hit during a recession or stock market correction knows firsthand that it takes a mental and emotional toll. New research, however, has discovered that it also makes you sick.

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Survey Finds Financial Stress High in U.S., Fueled by Retirement Planning Concerns

Jun 11, 2018 3:41:00 PM / by Darwin Bayston, CFA

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A recent Harris Poll survey, conducted on behalf of Purchasing Power, found that 87 percent of American adults are at least somewhat stressed about their current finances, with nearly one in four (23 percent) indicating they have either “quite a bit” or “a great deal” of financial stress. In spite of the healthy U.S. economy, 39 percent of full-time employees revealed that their stress level has actually increased in the past 12 months.

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New Tax Law May Benefit Seniors Interested in Selling a Life Insurance Policy

May 31, 2018 12:00:00 AM / by Darwin Bayston, CFA

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The passage late last year of a new law that includes sweeping changes to the tax code — the Tax Cuts and Jobs Act of 2017 — was welcome news to business executives, who saw their corporate tax rates cut significantly, and to many American consumers, most of whom will see more money in their paychecks as they pay lower federal income taxes this year.

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5 Tips for Managing Your Retirement in a Volatile Market

May 21, 2018 10:16:00 AM / by Darwin Bayston, CFA

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After an unusually tranquil and steady climb higher in 2017, U.S. stock markets have reminded us this year of how volatile they can be at times. Dow Jones MarketWatch reported this month that so far in 2018, the S&P 500 stock index has gained or lost more than 1% in a single trading day on 32 days. One day that many retirees in particular can recall was February 5th, when the S&P 500 dropped more than 4% — a one-day negative swing that we had not experienced in nearly seven years.

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The Uberisation of Selling Your Life Insurance Policy

May 17, 2018 12:00:00 AM / by R. Scott Harris, CMO, Magna Life Settlements

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Her bags are packed, but there's one thing left to do. Ruthie checks her smartphone and confirms that the dog sitter is scheduled to come by today to feed Bella. As she's browsing her dog sitting app, she receives a text message that the Uber her grandson sent for her has arrived. She locks the front door and gets into the car as her driver kindly puts her suitcase into the trunk. Ruthie's adventure has begun. It's time for the trip of her lifetime: a cruise to Alaska with her children and grandchildren.

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Let's say you have a cash value or convertible term life insurance policy, but you really need the money now. Or, maybe you're finding it hard to keep paying the premiums.

May 10, 2018 2:33:00 PM / by Mark P. Cussen, CFP, CMFC, AFC

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Let's say you have a cash value or convertible term life insurance policy, but you really need the money now. Or, maybe you're finding it hard to keep paying the premiums.

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$22 Billion is Left on the Table Annually that Could Be Used for Long-Term Care

Apr 24, 2018 11:36:00 AM / by Jon B. Mendelsohn CEO, AsharGroup.com

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As life settlement brokers, we know that seniors age 65 and older are leaving huge amounts of money on the table in lapsed and surrendered life insurance policies. That’s why we work so hard with financial advisors to help seniors sell their life insurance policies. A life settlement can provide much needed liquidity for some of life’s most burdensome expenses, like long-term care or medical costs.

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Should You Stay In Your Home Or Move During Retirement?

Apr 2, 2018 12:00:00 AM / by Darwin Bayston, CFA

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The choice about where to live in retirement is one of the most crucial decisions that a senior makes. It’s not just a major financial consideration, it’s also a highly emotional issue as a retiree’s home is often the anchor to their golden years.

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Is Your Life Insurance Policy Still Serving its Purpose? 5 Questions to Ask Each Year

Feb 22, 2018 8:58:00 AM / by Darwin Bayston, CFA

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A life insurance policy is an important investment for consumers. We’re diligent about choosing a policy that seems to best meet our family’s needs and then we reliably make those required premium payments on time so we can keep the policy in-force as the years go by.

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2017 Report on Long-Term Care Includes Life Settlements Among Payment Solutions

Feb 15, 2018 2:42:00 PM / by Jon B. Mendelsohn - CEO, AsharGroup.com

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A 2017 report by the National Association of Insurance Commissioners (NAIC) Long-Term Care Subgroup includes life settlements among three options for paying for long-term care.

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8th Annual Life Settlement Institutional Investor Conference

Feb 2, 2018 1:55:00 PM / by LISA

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LISA’s Life Settlement Institutional Investor Conference is the hallmark event that brings together professionals from pension funds, hedge funds, family offices, foundations and endowments for updates on the latest developments in the life insurance secondary market. To register now, please click here.
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3 Unexpected Post-Retirement Events that Can Put a Strain on Cash Flow

Jan 18, 2018 10:50:00 AM / by Darwin Bayston, CFA

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Preparing for retirement is a significant financial challenge during the working years, but the envisioned reward of enjoying stress-free golden years keeps most of us motivated to earn and save as best we can. Indeed, according to a story this week in the Wall Street Journal, “people at 65 to 74, the so-called time affluent, reported having more fun than any other age group,” according to a 2016 study by Age Wave and Merrill Lynch.

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Seniors returning to part-time workforce in search of supplemental income

Dec 18, 2017 12:11:00 PM / by Darwin Bayston, CFA

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The Wall Street Journal reported this week that, in the coming decade, the fastest-growing segments in the American labor force will be the 65-to-74 year-old and 75-and-older age groups. In fact, 40 percent of all Americans age 65 and older are working at least part-time right now.

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Good Options For Funding Your Long-Term Care

Nov 21, 2017 1:20:00 PM / by Darwin Bayston, CFA

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Most Americans over the age of 65 will require long-term care at some point in their lives, with today’s average senior likely to incur $138,000 in future long-term care costs, according to the U.S. Department of Health & Human Services. This is different from medical care and includes personal help with daily living activities such as bathing and dressing.

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Older Americans struggling with debt, holding little cash

Oct 30, 2017 12:39:00 PM / by Darwin Bayston, CFA

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Analysts from the website MagnifyMoney recently poured over data from the 2017 University of Michigan Retirement Research Center’s Health and Retirement Study. Their published conclusions are sobering.

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The Surprise ‘Expiration Date’ On Life Insurance Policies

Oct 9, 2017 12:00:00 AM / by Darwin Bayston, CFA

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The Wall Street Journal recently brought attention to a problem that is quietly impacting the estates of Americans who are fortunate enough to realize their 100th birthdays: the expiration of the life insurance policies they believed to be permanent assets.

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Survey finds retirees love to hit the road when they can find the travel funds

Sep 21, 2017 11:52:00 AM / by Darwin Bayston, CFA

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A recent survey by AARP, “Top 5 Boomer Travel Trends for 2017,” found that retirees love to travel . . . and travel often!

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Health care costs for retirees rising twice as fast as Social Security income

Aug 22, 2017 1:28:00 PM / by Darwin Bayston, CFA

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It’s no secret that health care costs in America continue to escalate, creating anxiety for many over how they will afford medical expenses that could strike at any time. The ongoing political drama in Washington, D.C. over the future of health insurance policy in the nation only exacerbates this uncertainty.

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How living past age 100 has become a problem for some insureds

Aug 2, 2017 1:39:00 PM / by Dan Young, CLU, ChFC, CASL, Senior Managing Director and General Counsel at Vida Capital

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A recent article in the Wall Street Journal was entitled: “Happy 100th Birthday!  There Goes Your Life Insurance.”  The article discussed how some universal life policies do not pay a death benefit if the insured lives past his or her 100th birthday:

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Life Settlements Identified by NAIC Innovation Group as Private Market Option for Financing Long-Term Care Services

Jul 26, 2017 10:11:00 AM / by LISA

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The National Association of Insurance Commissioners (NAIC) has approved a document for policymakers and various stakeholders that provides an overview of long-term care (LTC) financing mechanisms currently available in the private market, including the life settlement option.
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Florida Legislation is Good News for Seniors Who Want to Make Changes to Life Insurance Policies

Jun 27, 2017 3:02:00 PM / by Darwin Bayston, CFA posted in life settlement

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The State of Florida, which has the highest percentage of residents over the age of 65 of any state in the U.S., just passed an important piece of legislation that will hopefully encourage other states to increase consumer disclosure requirements to protect seniors who are considering making changes to a life insurance policy.

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A Victory for Florida Life Insurance Consumers

Jun 15, 2017 3:54:00 PM / by Robin S. Weinberger and Peter N. Katz

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Six states already require special disclosures for consumers who are about to give up a policy

The Florida legislature recently passed H.B. 1007, a comprehensive bill intended to combat insurance fraud. One important provision of the bill requires that insurance consumers be advised of their options before making changes to a life insurancepolicy. The new law now awaits the governor’s signature or, unless vetoed, automatically becomes law 15 days after it was sent to the governor’s desk.

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4 strategies to grow your finances in retirement

Jun 14, 2017 12:00:00 AM / by LISA posted in life settlement

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(BPT) – Retirement is the time in your life when you can throw off the shackles of your daily responsibilities and truly enjoy the fruits of everything you spent years working toward. It’s an empowering feeling and you’ve earned it. You’ve planned and you’ve saved, but now that you’re here, don’t make the mistake of believing your financial planning is over.

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An Important Discussion to Have with Clients

Jun 1, 2017 5:39:00 PM / by Darwin Bayston, CFA posted in Estate Planning

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Reassess assets in context of current needs and objectives.

A 2016 survey found that just one in 10 wealthy individuals had given complete information about their estates to their heirs, out of fear that such disclosures would dampen their work ethic. The survey, which was conducted by Wilmington Trust and polled individuals with a net worth in excess of $20 million, also found that two-thirds of the respondents were “apprehensive about sharing inheritance details.”

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The Issue on which Democrats and Republicans Agree in America

May 23, 2017 11:26:00 AM / by Darwin Bayston, CFA

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By many measures, our country is sharply polarized when it comes to our politics, with registered Democrats and Republicans lining up on opposing sides more so than ever before. In fact, a Pew Research poll taken during the 2016 presidential campaign found that the average American’s views of the “opposing party” are now more negative than at any point in nearly a quarter of a century.

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Estate Tax Debate Comes to Washington: Possible Implications for Life Insurance

May 8, 2017 3:24:00 PM / by Dan Young, CLU, ChFC, CASL, Senior Managing Director and General Counsel at Vida Capital

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Life insurance has long been used as a tool for estate planning. It has the unique ability to satisfy a wide range of objectives including covering outstanding debt obligations, paying for burial expenses, providing for surviving family members, and offering liquidity to cover estate taxes.

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American Workers’ Retirement Confidence Slips in 2017 as Anxiety Grow

Apr 12, 2017 5:36:00 PM / by Darwin Bayston, CFA

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The 2017 Retirement Confidence Survey, an annual report published by the non-profit Employee Benefit Research Institute (EBRI), was just released and its findings provide more reason for concern about how prepared Americans are for retirement.

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Financial Stress Among Seniors

Apr 1, 2017 3:10:00 PM / by Jon B. Mendelsohn CEO, AsharGroup.com posted in Financial Planning

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Financial stress is nothing new. For decades, parents, grandparents, and retirees have been kept up at night worrying about how they’re going to pay for their child’s college, how to cover an expensive home repair, or how they’ll be able to handle a spouse’s unemployment.

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Struggling to Pay Your Life Insurance Premiums? Know Your Options

Mar 22, 2017 12:07:00 PM / by Darwin Bayston, CFA posted in life settlement, Life Insurance Settlement

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If you're struggling to make ends meet in retirement, you're not alone. And when your income is limited and fixed, you do your best to cut out unnecessary expenses.

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4 Ways to Reduce Your Medical Costs in Retirement

Mar 1, 2017 12:54:00 PM / by Jon B. Mendelsohn CEO, AsharGroup.com

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When you’re living on your retirement savings, any opportunity to reduce unnecessary expenses is welcome. There are lots of ways people go about this.

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Bridging the Gap Between Plans and Reality: Know Your Assets

Feb 23, 2017 6:05:00 PM / by Darwin Bayston, CFA posted in life settlement

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The Employee Benefit Research Institute’s (EBRI) 2016 Retirement Confidence Survey found that the confidence American workers have in their ability to afford a comfortable retirement is remaining stable, with nearly two out of three workers reporting they are very or somewhat confident of having enough money for a comfortable post-career life.

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Exploring Life Settlements? It’s always best to work with a LISA member

Feb 15, 2017 3:15:00 PM / by Dan Young, CLU, ChFC, CASL, Senior Managing Director and General Counsel at Vida Capital

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A life insurance policy is one of the most valuable assets many Americans will ever own. Unfortunately, far too many consumers are unaware they have the right to sell a life insurance policy through what is known as a life settlement transaction. As a result, billions of dollars worth of life insurance is “irrationally lapsed” each year.

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4 Ways to Save Money During Retirement Without Sacrificing Your Lifestyle.

Feb 13, 2017 1:11:00 PM / by Jon B. Mendelsohn CEO, AsharGroup.com

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No matter how much you’ve been able to save for retirement, there comes a point for many retirees when they begin to worry about having enough money to last them. Not having a paycheck, or even the prospect of a paycheck, can produce major feelings of anxiety – even if you thought you were fully prepared for that reality. The good news is that retirement doesn’t have to be as expensive as you may think it does. With a few changes, you can easily live the lifestyle you love without depleting your retirement account.
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The Sandwich Generation: Tips for Balancing the Needs of Children and Aging Parents.

Jan 27, 2017 10:56:00 AM / by Jon B. Mendelsohn CEO, AsharGroup.com posted in life settlement

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If you’re a member of the “sandwich generation” – adults who are caring for both their own young children and their elderly parents – then you’re no doubt familiar with the challenges and conflicts that arise on a monthly,

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2017 Retirees: Four Key Financial Considerations

Jan 10, 2017 9:59:00 AM / by Darwin Bayston, CFA posted in baby boomers

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As the calendar turns to a new year, we all ought to raise a glass to congratulate our fellow Americans who will reach a milestone in 2017 of achieving their dreams of retirement!

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