By Toan Nguyen
Being twenty eight years old, I can’t say that I’ve put much thought into how to find a suitable nursing home. Prior to last year, I have never even been inside a nursing home. I never knew how much research it takes or what was all involved in selecting a suitable home until I had to do it for my wife’s grandmother. During this experience I learned that there is more to choosing a care facility than a nice building and well manicured landscaping. I wanted to share my experience to help provide a starting point if you would ever find yourself in a similar situation.
After a fall left my wife’s 83 year old grandmother (let’s call her Anne) with a broken hip, we remodeled our basement to be handicap friendly for her to move into as she recovered. The intention was for her to eventually move back into her own home. Since my in-laws live out of state, we thought this would be a great solution to have her stay with us until she healed and save her some money at the same time. We also thought it would be beneficial for her to be around family and have more personal interaction than what she would have received in a care facility. Luckily, my wife wasn’t working while completing her graduate degree and would be able devote time to taking care of Anne.
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By Toan Nguyen
What does your credit mean to you?
You probably use your credit every day and don’t even realize it. Your credit history affects everything from your access to credit cards, home loans, car loans, student loans, and the interest rates you pay on them. The better your credit rating, then the lower the interest rates you’ll be charged. Also, insurance companies and potential employers may review your credit history, which can affect your insurance rates and potential job opportunities. Account history and transactions can stay on your credit history for up to seven years. That’s why it’s crucial to verify its accuracy.
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By Tony Moeller
In late July of this year, I met with a retired couple for lunch for a portfolio review and update on what was occurring in their life. I attended college with their daughter and have known the couple for over 25 years. During our review, I asked a myriad of questions regarding their personal finances, health, kids, grandkids, etc.
Overall, this couple was financially secure and other than the aches and pains of aging, they were doing quite well. However, when asked about the status of their estate plan, they mentioned that it was probably quite out of date and needed to be reviewed. While probing further, the couple shared that they had concerns regarding what may occur with whatever funds may be left over at the final spouses’ time of passing.
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By Tony Moeller
Recently, interest rates have been at historic lows, which is tough for retirees or investors who are trying to live off the interest income from their CDs or savings accounts. However, it is just the opposite case for borrowers. Over the last several months, I have mentioned to clients and others, that now may be a good time to review your mortgage and see if refinancing can save you money and makes sense. The following is a link to my July 2, 2010 commentary on this issue:
http://iia-kc.com/blog/financial-commentaries/weekly-commentary-7210-4-15-year-or-a-4-25-30-year-mortgage-%e2%80%93-refinance-now/
As a result, I specifically had a conversation with a client who, her and her husband, were very successful entrepreneurs. They sold their business and comfortably retired. Since they had no outstanding mortgage, this was not an issue. However, I stated that they should bring the subject up with their kids. They may have a mortgage and are just too busy to see where they stand.
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