Pam Krueger public
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Whatever life after 50 looks like to you, thinking about money in retirement shouldn’t keep you up at night. We’re all dealing with the big questions about money and aging: How much you can really spend, how to invest your life savings without risking it all in the stock market, and should you sell your home and downsize? Then there’s the biggest unknown: how much health care you’ll need, and whether your savings and insurance is enough to cover the costs. This is personal. These topics may ...
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The Friends Talk Money team is joined by Alexandra Armstrong, CFP®, CRPC® who is the chairman and founder of Armstrong, Fleming & Moore, Inc. Alex has worked in the investment field for more than 40 years and back in 1977, was the first person to earn the Certified Financial Planner™ certification in Washington, DC. On this episode, Alex discusses …
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Our next special guest has undeniably made the most significant impact on your retirement savings strategy. In this episode, the Friends Talk Money team sits down with Ted Benna, the father of the 401(k) plan. Ted shares the fascinating story of how he conceived this groundbreaking idea, navigated the IRS approval process, and gives us a glimpse in…
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There's nothing more painful than losing your job when you're older and not being able to get a new one. Research says there's a stigma about "older unemployment" - especially when it drags on for more than a year! Meet Ben who is going through that right now. He remains optimistic, but details the hazards -- even for those in technology -- when a …
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The price of prescription drugs can be enormous when you're on Medicare, so in this Friends Talk Money episode, we offer advice on how to pay the least for your medications. With help from expert Diane Archer of JustCareUsa, we discuss when to use your Medicare Part D plan, what to know about prescription discount cards and programs from drug compa…
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You're probably familiar with financial literacy, which entails having the skills, knowledge and behaviors to make decisions about money. But how's your longevity literacy? Not sure what we're talking about? In this episode Pam, Terry and Richard break down longevity literacy, and explain the impact, especially when it comes to your retirement read…
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In this episode Pam, Terry and Richard talk about what’s likely to be the most important financial decision you’ll ever make… what to do with your 401(k) money when you’re ready to retire? The Department of Labor says any retirement advice you get a work should always be in your best interest. The question is… is it? Pam leads the discussion about …
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In this episode, the Friends Talk Money team discusses how you can help set up your grandchildren for financial success beyond the traditional 529 college saving plans. Tune in as Pam, Richard and Terry share helpful tips and savvy money strategies that they’ve learned from their own personal experiences.…
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Social Security is clawing back $21 billion in mistaken overpayments — impacting retirees and the disabled. Terry Savage and Larry Kotlikoff have written a new book —Social Security Horror Stories— revealing the shocking abuse. Last weekend they were featured on CBS - Sixty Minutes speaking with Anderson Cooper about this issue. In this episode, La…
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Not everyone looks at their personal financial future through rose colored glasses. In fact a recent Gallup poll shows Americans not yet retired are more worried than anytime in the past ten years. Discouraged savers who see the glass-half-empty may actually need different financial strategies just based on their outlook. We give you solid financia…
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Roger AKA, "The Retirement Answer Man” and author of “Rock Retirement: A Simple Guide to Help You Take Control and Be More Optimistic About the Future,". Roger has been a CERTIFIED FINANCIAL PLANNER™ professional for more than 25 years. He’s sharing how he’s now helping people live well today in retirement without sacrificing tomorrow.…
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In this episode, Friends Talk Money co-hosts Pam Krueger, Richard Eisenberg and Terry Savage discuss what Medicare does and doesn't cover when it comes to treatments for Alzheimer's Disease and drugs for weight loss. A recent FDA decision means Medicare will be covering a new, game-changing Alzheimer's drug for many people 65 and older, but there a…
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A guide to who should consider buying a long-term care insurance policy, what these policies do and don't cover, what age to consider buying it and the newer versions known as hybrid policies and 10-Pay policies. Our guest: Brian Gordon, a long-term care insurance policy expert with Gordon Associates in Bannockburn, Ill.…
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Netflix released a new docuseries that reveals how Madoff got away with stealing $36 Billion from wealthy investors and charities. It’s been 15 years since the biggest criminal on Wall Street, Bernie Madoff pulled off the largest Ponzi scheme in history. Bernie Madoff may be dead, but there are still plenty of con artists and investment scams and n…
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Mention the word “annuity” and most investors recoil. There seem to be so many hidden secrets and costs. And high pressure sales tactics along with "free dinners." In today’s podcast we unravel those mysteries – with the one man who has consistently worked to educate the public to the ins and outs of annuities – as well as some of the better uses o…
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Have you given some thought to where and how you’d like to live in your retirement years? Many insist on staying in the family home – without thinking about logistics of stairs and navigating the bathroom in later years. Maybe you’ll just downsize to a smaller home. Others decide to move into a senior community, making new friends in these settings…
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Millions of Americans are feeling financially insecure about retirement, but "Retirement Reboot" author and journalist Mark Miller has some practical suggestions. In this "Friends Talk Money" episode, he shares insights and recommendations on: saving and investing for retirement, Social Security strategies, enrolling in Medicare and more.…
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Congress just passed a bill with the biggest changes for retirement in 15 years. The legislation, called Secure 2.0, has new ways to save for retirement and take money out of savings for emergencies, as well as new rules on how much you'll be required to take out of your retirement accounts and how the government will provide money to match retirem…
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Many people worry about running out of money in retirement. But Jim Mahaney, a retirement advisor in New Jersey, says you can lessen that worry by creating what he calls a "resilient retirement income plan." He just wrote a whole book about it — "How to Craft a Resilient Retirement Income Plan" and in this episode, Friends Talk Money podcast co-hos…
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The holiday shopping season is officially underway, and like many grandparents and parents, you’re probablysearching for gifts that will make a lasting impression on young people–rather than being quicklyoutgrownor broken. So we have gathered some of our best holiday money gifts for kids of all ages—gifts that will keep on giving for years to come.…
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Delaying billing 2022 side-gig income until 2023, maximizing end-of-year pre-tax retirement plan contributions, and selling stocks at a loss to offset capital gains are just a few of many steps you can take right now to reduce your 2022 taxable income. Terry, Pam and Richard discuss these and other strategies and IRS changes that may lower tax bill…
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With the stock and bond markets delivering lousy returns this year, some investors are wondering whether to add so-called alternative investments to their portfolios. In this episode, Pam, Terry and Richard discuss the risks of investing directly in unregulated asset classes like gold, real estate, commodities and even cryptocurrency and suggest wa…
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Two thirds of retirees get more than half of their income from Social Security. That’s why it’s critical to make the right claiming decision. In this episode, the three friends are joined by Social Security expert and bestselling author Lawrence Kotlikoff, who discusses scenarios where you might want to start taking Social Security earlier or delay…
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The housing market is a perilous place right now, especially for people over 50. Prices in certain areas are out of reach for many seniors who want to relocate, yet rising mortgage rates are making it difficult for many homeowners to sell at their asking prices. In this episode, Terry, Pam and Richard weigh the pros and cons of selling or staying p…
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What does the employment outlook look like for older Americans who will be looking for new jobs or want to hold on to the jobs they have? Will there still be remote or hybrid opportunities for those who don’t want to be in the office full time? And when today’s hot job market begins to cool, will there be a place for older employees in corporate Am…
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Many financial advisors are not doing much to help their clients prepare for retirement other than managing their investments. In this episode, the three friends discuss the many other ways a truly independent, fiduciary financial planner can holistically come up with a comprehensive plan to help retirees answer their many questions, from deciding …
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In this episode, Pam, Terry and Richard discuss the pros and cons of socially responsible investing, whose increasing popularity is being driven mainly by women. In particular, they examine whether women sacrifice returns by investing in stocks or ESG funds that align with their personal values. The answer may surprise you.…
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Pam, Terry and Richard puncture the myth that holding bonds in your portfolio offsets the risks of owning stocks. For example, this year, rising interest rates have driven down the prices of existing bonds. While this may not create a problem for investors who plan to hold on to their bonds until they mature, selling them could generate huge losses…
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Do you truly know how long the money you’ve saving in your 401(k) will last during your retirement? In this episode, Terry, Richard and Pam discuss the benefits and potential flaws of a new federal rule that will require retirement plans to start providing lifetime income statements that show much monthly income their account could generate if they…
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Directly rolling over a 401(k) plan to an IRA with a custodian like Fidelity, Schwab or Vanguard is something most people should do as soon as possible after they retire. Why? Because most 401(k) plan investment options are designed for people saving for retirement, rather than for those who need their nest egg to generate income to help pay for ev…
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Since the 1990s an increasing number of people are getting remarried at a later age. Couples who are entering second marriages at this point in life need to fully understand the financial implications. How much wealth and debt will they bring to the union? Whose home will the newlywed couple live in? How do you make compromises on everyday spending…
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Recent research from the Employee Benefits Research Institute reveals that those most worried about financial security during retirement are Gen-Xers between the ages of 42 and 57 years old. With the market experiencing its worst start of the year since World War II, many are wondering whether the two-decade bull market is coming to an end. Others …
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If you want to work part-time in retirement, it's never been easier to find the kind of job you want. And it’s not just lower-paying, physically demanding jobs at retail stores and restaurants. With employers desperate to find workers, many are putting aside their biases against experienced and technically savvy older workers and allowing many to w…
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Ric Edelman, author of the new book “The Truth About Crypto” thinks everyone should have 1% of their investments in cryptocurrencies, including retirement investors. But the U.S. Department of Labor has concerns about allowing crypto in 401(k) retirement plans, just as Fidelity says it plans to let employers allow employees to put up to 20% of thei…
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Securities regulators estimate that at least 5 million elderly Americans become victims of financial fraud and other scams each year. With this kind of abuse only expected to increase, these regulators are strongly recommending that seniors formally appoint one or more children, relatives or friends as “trusted contacts” with their bank, brokerage …
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The S&P has been very volatile since January, after reaching many record highs over the past seven years. It’s hard for any investor not to feel overwhelmed and worried during these turbulent times. Watch nationally known financial commentators and co-hosts of the award-winning podcast Friends Talk Money, Terry Savage, Richard Eisenberg and Pam Kru…
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Mental health studies have shown that those who do nothing after retirement increase their chances of suffering from clinical depression by 40%. That’s why many retirees are choosing to “unretire.” This doesn’t necessarily mean going back to work full-time. Instead, it’s about filling your day with activities that bring you satisfaction. But to unr…
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When it comes to COVID tests, vaccines and medical treatments, the way traditional Medicare Parts A and B pay for these expenses is not always clear cut. For example, right now Medicare only pays for four at-home COVID test kits that you order directly through covidtest.org. However, the Biden administration recently announced that in early spring …
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If you think that the stock market has been going through extreme positive and negative price swings over the past few weeks, you’re not imagining things. When volatility occurs, however, it’s important to resist the urge and flee to safety. Remember that, over the long term, stocks have delivered better long-term returns than bonds and cash. The q…
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Fifty-four million Americans are over the age of 65. And extended life expectancies, coupled with low birth rates, are moving us toward a “super age” where more Americans will be over the age 65 than under age 18. With higher percentages of people likely to live well into their 90s, your retirement nest egg may need to last 30 years or more. Depend…
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