Author - Chip Hymiller, CFP®

1
Considerations for Retirees: Which Account?
2
What’s the Difference Between Mutual Fund Share Classes?
3
Should You Purchase Long Term Care Insurance?
4
Using Donor Advised Funds To Make Charitable Donations
5
The Top 5 Estate Planning Mistakes

Considerations for Retirees: Which Account?

You have worked hard, saved well and now you have decided to enter the next phase of your life…retirement.  Although the paychecks have stopped, you have amassed a portfolio that you are confident will sustain you for the remainder of your lifetime.  Now, you only have one question:

Should I take distributions from my 401(k) plan, IRA, Roth IRA or personal brokerage account?

Unfortunately, the answer to this question is both complex and can change each year as the investment markets, tax laws and your personal circumstances change.  While it is beyond the scope of this article to fully analyze …

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What’s the Difference Between Mutual Fund Share Classes?

It is easy to understand how mutual fund investors can be confused by the myriad of choices when it comes to mutual fund “share classes.”  For many mutual funds, there are more than three share classes for each fund within a mutual fund family. In every case, a different share class represents a different method of calculating the fees in which mutual funds levy on investors.  The most common share classes are as follows:

Class A share mutual funds generally assess an upfront (one-time) commission that is paid to the broker (4.75% to 5.75% is the range).  In addition, there …

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Should You Purchase Long Term Care Insurance?

Long term care costs are expensive and rising every year.  For many, a two or three year stay in a skilled nursing facility could cost several hundred thousand dollars and potentially wipe out a retirement nest egg.

Consider the following statistics provided by the US Department of Health and Human Services regarding the cost of long term care services (in 2009):

  • For a home health aid, the average cost is $21/hour
  • The average daily cost for adult daycare services is $67
  • The cost of a semi-private room in a nursing facility averages $198 per day.
  • The cost of a private
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Using Donor Advised Funds To Make Charitable Donations

Improving financial markets have created a renewed interest in charitable gifting.  One particular tool that can be very effective in helping you achieve your charitable objectives is a donor-advised fund.

What are donor-advised funds?

Donor-advised funds are accounts that can be funded with appreciated stock, real estate, cash or other assets.  They can be established directly through charities or community foundations, as well as many mutual fund companies or brokerage firms.  Contributions made to donor-advised funds are invested and remain in the fund until you determine which individual charity to send a contribution.

What are the benefits of using donor-advised

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The Top 5 Estate Planning Mistakes

An effective estate plan can ensure that assets pass directly to your intended heirs.  Without a properly executed estate plan, loved ones can be left with a big mess and lots of hassle.  Here are a number of estate planning mistakes that, if avoided, can ensure an efficient distribution of assets at death:

1.) Not having a will. Unfortunately, many Americans do not have a will.  For those who die intestate, without having a will, the decedent’s state of residence has laws that dictate how assets should be distributed.  In addition to asset distribution, intestacy laws and the courts help …

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