Todd D. Heckman |
May 19, 2014 |
Retirement Planning
This is a tough question, because it can be hard to make up for lost time. And because how do you define “enough?” What you’ll need depends on what lifestyle will keep you happy in retirement, how money-smart you are in supporting that lifestyle, and what good and bad luck you experience along the way. None of that is easily quantified, and despite what you may have heard or read, there is no “Number” out there that can possibly specify ahead of time just what’s...
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Todd D. Heckman |
April 4, 2014 |
Retirement Planning
Talk with someone – whether a friend or financial advisor – about whether there’s going to be enough money to retire on, and the conversation is likely to focus entirely on whether you have enough to pay your bills, and maybe to allow for a few extras or to cover emergencies. But there’s a good chance that the issue of “legacy” – what you want to leave behind when you’re gone – will not come up at all. This is a serious oversight. Despite all...
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Todd D. Heckman |
March 24, 2014 |
Annuity Basics
Although “retirement income planning” has become a piece of common jargon in the financial industry, it’s not actually a great description of what’s really going on, or what you need. When people retire, their earned income typically plummets from something they are accustomed to live on, to something closer to zero. So they do need to replace that income in some fashion. For most people, Social Security does at least part of the job. Many people also have a pension from recent or past employment,...
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Todd D. Heckman |
January 29, 2014 |
Member Posts, Retirement Planning, Todd Heckman
I just returned from a holiday trip ‘up north’ to visit my parents and mother-in-law….. Stop me if you have heard this story before…there are two sets of parents, my parents and my in-laws. My parents, both in their 80s, are cared for in a well-run retirement community and lead a very active lifestyle. This is despite the fact that my father continues to fight a two and a half decade old battle with a dread disease (leukemia). They travel together, volunteer and participate in...
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Todd D. Heckman |
January 9, 2014 |
Long Term Care, Member Posts, Retirement Planning, Todd Heckman, Your Retirement
There’s a great Number 1 song from 1974 by the late artist Harry Chapin called: “Cat’s in the Cradle.” Written as a poem for Chapin by his wife Sandy, it tells the story of a father’s relationship with his son. More importantly it describes how the march of time robs us of our intent to take care of the things we need to take care of in the here and now. Predictably, as the song’s melody plays on, the father is struck by an observation...
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Todd D. Heckman |
December 31, 2013 |
Long Term Care, Member Posts, Todd Heckman
The figgy pudding has been given, the presents unwrapped and Christmas goose consumed (In my household it was ‘Leg of Lamb’ on the Grill… benefits of living in Florida!). You watched “It’s a Wonderful Life” and “A Christmas Vacation” so many times that you yell at George Bailey to get off the bridge and go home and for Clark to plug in the lights already! Now that Christmas Day has come and gone, it’s time to look toward 2014 and the various resolutions we will...
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Todd D. Heckman |
December 24, 2013 |
Member Posts, Retirement Planning, Todd Heckman
Shoppers are busying themselves with last minute deals and savings with less than a week left until Christmas. This flurry of consumer activity, both online and in person, should result in happy gift recipients on the 25th and a review of your financial statements on the 26th as we all look forward to the next season…planning season! OK, there is no official planning season, but should there be? Now is the time to look ahead and start the process of planning for the future. There...
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Todd D. Heckman |
December 11, 2013 |
Annuity Basics, Annuity123, Healthcare, Long Term Care, Member Posts, Todd Heckman
The Medicare program began life as an addition to President Franklin Roosevelt’s vision to meet the needs of older workers living in America. Medicare was created in 1965 under Title XVIII of the Social Security Act to include health benefits for those retirees eligible for Social Security retirement. What is Medicare? Within 3 months prior to and up to 3 months after your 65th birthday, you are eligible to enroll in Medicare. There are no income qualifications (minimums or maximums) for the program, just...
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Todd D. Heckman |
December 4, 2013 |
Deferred Annuities, Long Term Care, Longevity Annuities, Member Posts, Todd Heckman
The number of older Americans age 65 and older living in the United States by the year 2020 is projected to be 54 million. This is an increase of 54 percent from year 2000’s population of 35 million. It is no secret that the growth in older persons, members of the “Baby Boomer” generation (born 1946-1964), will place a greater demand on health care services than any other generation before and probably afterwards. This includes the need for care provided in the home or a...
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Todd D. Heckman |
November 20, 2013 |
Long Term Care, Member Posts, Todd Heckman
Wake Up America!!! Long-term care in the United States has become a necessary evil that every American will need to consider at some point in their life. The largest population of individuals in the country, those born from 1946 to 1964, began turning 65 in 2011 and by 2020 it is projected that some 12 million baby boomers will require long term care services. Facility Based Care Services vs. Home and Community Based Services Long term care becomes necessary when a person is no longer...
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