BML Wealth Marketing, Author at BML Wealth Management

4 03, 2020

Spring Cleaning Your Retirement Accounts
Spring Cleaning Your Retirement Accounts

Spring Cleaning Your Retirement Accounts

BML Wealth Marketing2020-03-04T15:00:31-08:00March 4, 2020|Retirement Income, Wealth Management|

By the time you’re ready to retire, you’ve probably had a number of jobs over the course of your working life. In fact, according to the Bureau of Labor Statistics, Americans hold an average of 12 different jobs by age 50. This means that it’s likely you also have more than one 401(k) account, leaving you with a few options for spring cleaning your retirement accounts; rolling over your old 401(k)s into your IRA or 401(k) at your current job, leaving it where it is, or cashing out. If you’re looking to spring clean your [...]

22 02, 2020

4 Reasons to Plan for Long-Term Care Costs
4 Reasons to Plan for Long-Term Care Costs

4 Reasons to Plan for Long-Term Care Costs

BML Wealth Marketing2023-03-23T21:32:07-07:00February 22, 2020|Financial Planning, Long-Term Care|

There’s a 70% Chance You’ll Need Long-Term Care We can all celebrate an increasing life expectancy as we look forward to our golden years. In 1950 the life expectancy for American men was 65.6, and 71 for American women.[1] Now it’s 76.3 for men and 81.4 for women. Of course, many people live to be older than that. In fact, the Census Bureau estimates that by 2050, Americans 90 and older will make up 10% of the population.[2] A longer life is a blessing, and it also means a higher likelihood of needing long-term care: According [...]

21 01, 2020

The Power of Nostalgia
The Power of Nostalgia

The Power of Nostalgia

BML Wealth Marketing2020-03-04T15:22:07-08:00January 21, 2020|Health and Wellness|

You might think that the more recent an event, the easier it would be to remember it. And you might think that things that happened to you a long time ago would be harder to recall, but the human brain and memory are actually more complex. There is what psychologists call a “reminiscence bump,” which is the tendency for older adults to more easily recall events from their adolescence and early adulthood. It turns out that in studies where people are asked to produce memories, a disproportionate amount tend to be from this time in [...]

20 01, 2020

The Retirement Fingerprint – January/February 2020
The Retirement Fingerprint – January/February 2020

The Retirement Fingerprint – January/February 2020

BML Wealth Marketing2021-10-04T11:11:03-07:00January 20, 2020|Newsletters|

What Is an Economic Decline vs. a Recession? An economic decline happens when various measures of growth begin to falter. For example, the unemployment rate increases, inflation starts to rise, housing values drop, and consumers and companies reduce spending. However, just because some of these things occur doesn’t mean the country will enter a recession.

9 01, 2020

Are You Thinking About Buying a Second Home?
Are You Thinking About Buying a Second Home?

Are You Thinking About Buying a Second Home?

BML Wealth Marketing2020-03-04T13:09:32-08:00January 9, 2020|Budgeting|

A home is one of the most significant purchases you’ve made in your lifetime, so you should take your time when thinking about buying a second one. The ability to rent the house, how you will use it, and its future value are all important things to think about. While many people have a favorite vacation spot in a scenic area, they can’t spend a significant amount of time there until they’re retired, and there are many thing to consider before moving in retirement. And, the rules of Real Estate are a bit different for [...]

19 12, 2019

The Rising Cost of Healthcare in Retirement
The Rising Cost of Healthcare in Retirement

The Rising Cost of Healthcare in Retirement

BML Wealth Marketing2020-03-05T09:32:28-08:00December 19, 2019|Retirement|

We know life is like a box of chocolates – but what about retirement? Do you really know what it holds, or how much it will cost? It’s easy to budget based on your current lifestyle, but what about anticipating major unexpected costs? The truth is that as you get older, it’s likely you’ll have to spend more on healthcare. But the truth is also that there are things you can do to plan ahead for this. We always hear that healthcare costs are rising and Americans are living longer, so why not take these [...]

17 11, 2019

Estate Planning for Your Loved Ones
Estate Planning for Your Loved Ones

Estate Planning for Your Loved Ones

BML Wealth Marketing2020-03-04T15:05:01-08:00November 17, 2019|Estate Planning|

An estate plan is like a car; it requires regular maintenance and may need parts replaced as it ages. Some experts recommend reviewing your estate plan every three years, or after a major life event. You may need to update your estate plan to reflect the changes to the tax code, as well as life events like the death or birth of a beneficiary. You also should consider if your beneficiaries are prepared to receive money, or if they still are, even if they were when you originally laid out an estate plan. One recent [...]

15 10, 2019

Don’t forget about Your Old 401(k)s
Don’t forget about Your Old 401(k)s

Don’t forget about Your Old 401(k)s

BML Wealth Marketing2020-04-16T16:10:40-07:00October 15, 2019|401K, Retirement Income|

Do you have multiple 401(k)s? If you left your money in a former employer’s 401(k), you may want to reconsider as you near retirement. According to the Bureau of Labor Statics[1], Baby Boomers have held an average of 12 jobs by the time they turn 50. When you leave a job, the money you contribute to your 401(k) is still yours, and you may also be able to keep your employer’s contributions depending on your vesting schedule. There are a few options for your old 401(k)s: You can cash out of the plan, leave the [...]

30 09, 2019

Aging in Place
Aging in Place

Aging in Place

BML Wealth Marketing2020-03-05T09:29:35-08:00September 30, 2019|Lifestyle|

Many homeowners age 50 and older say that they want to “age in place,” but the reality is that many homes were not built to accommodate the needs of older people. If you want to remain in your house during your golden years, you may need to do some home remodeling. Fortunately, there are modifications you can make to your home to accommodate yourself as you age. And, they will be easier to make before you actually need them. Features like no-step entries and a first floor bedroom and full bathroom can keep you in [...]

4 08, 2019

Travel in Retirement Without Overspending
Travel in Retirement Without Overspending

Travel in Retirement Without Overspending

BML Wealth Marketing2020-03-05T09:33:27-08:00August 4, 2019|Retirement, Traveling|

So you want to become a world traveler in retirement, but you’re also a responsible person who knows they need to support themselves for the next 30 years. You can take advantage of your newfound free time in retirement and rethink your destinations to maximize value. With careful compromise and some creativity, you could fulfill your dreams of travel in retirement without overspending. Setting a travel budget is one of the rules of retirement to consider, especially if you want to take advantage of your abundance of free time and make multiple, or extended trips. [...]

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