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From the Northeastern Section of the ACS, focusing on career management and development
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11/21/09
Watch-outs 15. Medicare, Beneficiaries, Financial Planning
Filed under: Mature professionals, Legal matters
Posted by: site admin @ 11:42 am

Topics related to setting up
retirement plan beneficiaries,
strategies for tax-wise sharing
of wealth, dealing with the
medicare choices and overall
financial planning are mentioned.

While these are not formally talked
about in career discussions, the
Internet and the “long-tail”
gives us the responsibility to
broaden the scope of career
management beyond the usual
topics.

SETTING UP HEIRS
Source:  K. Greene, Hand down assets
in retirement plans
,
11-21-09
Retirement plan benefits are not formally
set up in your will.  Benefits are passed
to the beneficiary(ies) in your beneficiary
designation form in IRAs and 401Ks. 
Several “what ifs” are discussed in the
article. 

ESTATE PLANNING FOR THE “NOW”
Source:  J. Zweig, WSJ, 10-3-09, p. B1
Transferring wealth via the Bank of Mom
Dad
.
If your sibblings are seeking loans,
people with assets can offer loans
and gifts for some or all of the amount.
This article reports the pros, cons and
requirements of IDGTs, GRATs, and
SCINs for those who are well-endowed.
It also gives insights for the rest of
us.

COVERING MEDICAL COSTS
Source:  WSJ, 
K. Greene, “Medicare
Maze
” and
WSJ, 11-14-09  p. R4
, G. Ruffenbach
Money Matters column
The open enrollment period is here
and decisions have to be made on
insurance for 2010.  We do not have
an inkling of what our future medical
care plan will be.  We will want to get
a handle on that.  K. Greene’s article
gives some guidance for the your path
through the Medicare maze.  It could
also benefit those with parents who
are facing this challenge.

G. Ruffenbach offers a framework
for financial planning and some
estimates that may help.  Those
in retirement or close to retirement
will benefit from the Greene article
first.  I liked a number of links
provided in the Ruffenbach article.
See other pertinent topics:
diversification, retirement planning,
withdrawal rates and strategies.


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