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2 weeks ago | 
orlandosentinel.com | Elliot Raphaelson
Readers of my column know I periodically review the latest books in the field of personal financial planning. I try to read everything that's published in the genre, but I only review books that I think will help readers. In today's column, I am reviewing "How Not To Invest: The Ideas, Numbers, and Behaviors That Destroy Wealth - and How to Avoid Them" by Barry Ritholtz (Harriman House).
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3 weeks ago | 
orlandosentinel.com | Elliot Raphaelson
f you want to invest in a money-market fund, I strongly recommend that you consider Vanguard. First, I want you to know that I am not employed by Vanguard, and if you do invest in Vanguard's money-market fund, I will receive no compensation. As you know, the stock market is volatile, and many investors are now investing in conservative vehicles such as money-market funds because they want to minimize capital risk and remain liquid, while also earning a reasonable rate of return.
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4 weeks ago | 
orlandosentinel.com | Elliot Raphaelson
Readers of my column know that IRA expert Ed Slott and his colleagues are among my major sources on the topic of retirement accounts. It's their business to be up to date on the latest regulations, and they share this expertise with their clients and with members of the press like me. In addition to his monthly reports regarding retirement accounts, Ed Slott and Co. also distributes a monthly report covering Social Security issues.
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1 month ago | 
orlandosentinel.com | Elliot Raphaelson
Q. I just turned 65, and I haven't applied for a Social Security benefit yet. My husband applied for his benefits when he retired at age 70. If I apply for a spousal benefit, will I be entitled to 50% of his benefit? A. Unfortunately, you will not be eligible for a spousal benefit equaling 50% of your husband's benefit unless you wait until you reach 67, your full retirement age. If you apply for a spousal benefit now, you will get less than 50% of his benefit.
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1 month ago | 
orlandosentinel.com | Elliot Raphaelson
For many years, the Pension Retirement Center (PRC), a nonprofit organization has provided services at no cost related to individual retirement plans. The center has encouraged the development of a database of information about benefits that employees are entitled to from previous retirement plans. As a result of the SECURE 2.0 Act of 2022, the Department of Labor created such a database.
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1 month ago | 
orlandosentinel.com | Elliot Raphaelson
If you have significant investments in the stock market, you have probably watched the recent volatility with trepidation, as the values of some indexes have retreated by 10% or more from their recent highs. If you're not concerned about your portfolio, then you don't have to read this column. If you are concerned, then I hope what follows will help. Whenever you see a dramatic change in the value of your assets, it is normal to ask whether you should make major changes in your portfolio.
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1 month ago | 
thebeaconnewspapers.com | Elliot Raphaelson
I worked 34 years before retiring and have been retired from full-time work for 29 years. I have made some good decisions and some not so good, and I hope you can learn from both. First, I will discuss what I believe were good decisions. When you look for full-time employment, see if you can find an employer that offers a defined benefit plan. Although most employers no longer offer defined benefit plans, unions are now being more aggressive and are insisting on them.
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1 month ago | 
orlandosentinel.com | Elliot Raphaelson
I receive a great many inquiries about retirement accounts. One area of particular interest is Roth conversions. Fortunately, IRA expert Ed Slott and his staff spend a great deal of time and effort addressing the most important questions you should be asking before you decide that a conversion makes sense for you. The following questions are very important. If you haven't considered all of them, you probably should not be completing a conversion.
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2 months ago | 
orlandosentinel.com | Elliot Raphaelson
Q. I was married for more than 10 years before my divorce. My ex worked many years under Social Security. If I remarry, will I lose the right to survivor benefits if I remarry? A. Good question. If you remarry after age 60, you still are entitled to a survivor benefit based on your ex's Social Security benefit.
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2 months ago | 
orlandosentinel.com | Elliot Raphaelson
The Social Security system is efficient. It is not a Ponzi scheme, as White House adviser Elon Musk has characterized it. Millions of Americans depend on the survival of Social Security in its current form, and the American public should be telling members of Congress that they should be doing everything they can to prevent the system from failing. It has been proposed that individuals can no longer make appointments with Social Security by phone, and they must visit a local Social Security office.
