By Colleen Weber, CFP®, CPA
Those long-awaited-for golden years are finally right around the corner, and your dreams of golf courses and sandy white beaches are almost a reality! But wait…without the security of a steady paycheck and a structured schedule, you’re embarking on a journey into the unknown of finite resources and endless free time. Will all your years of hard work pay off?
We’ve found that most retirees face the same 5 financial planning challenges during the first 10 years of retirement. If you want to experience a fulfilling retirement free of worry and regret, listen up.Read More “The Top 5 Financial Planning Challenges In The First 10 Years Of Retirement”
The Most Expensive Cities in the World
Every year, The Economist magazine surveys the Worldwide Cost of Living, looking at 160 expense items across 133 countries. There are a lot of interesting tidbits to be found in the report, but perhaps the most interesting is a list of the most expensive cities in the world. In 2018, Singapore won this dubious honor. After that, it was a tie between Zurich, Switzerland and Paris, France, followed by 4) Hong Kong, 5) Oslo, Norway, 6) Geneva, Switzerland and Seoul, South Korea, 8) Copenhagen, Denmark, 9) Tel Aviv, Israel, and 10) Sydney, Australia.
No American city? The fact that the dollar fell against other currencies over the past year lowered the cost of living in places like New York (ranked #13) and Los Angeles (#14) when measured in global terms.
Social Security, Where Budget Cuts Lead to Terrible Service
These days, trying to apply for Social Security benefits, or getting straight answers about what your best claiming strategy might be, is frustrating at best. Recently, Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare, illustrated the problem in vivid detail before the U.S. House Ways & Means Committee. When he began his testimony, he first dialed the agency’s toll-free telephone number. Twenty-five minutes later, he announced to the legislators that his phone was still on hold. A recorded message said that his wait would be about an hour.