Category: Retirement

It’s Time for a Personal Finances Reboot

As the nation moves cautiously into the next stages of recovery, Millennials, Gen-Xers, and Boomers alike are redefining “essential spending.” While a reset of personal finance habits can be beneficial for any generation, we’re seeing that Millennials in particular are looking to reconstruct their personal finances framework. There is also a large number of parents…
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We can help you navigate the complexities of divorce after 50.

Can You Afford Divorce after 50?

While the overall rate of divorce in the U.S. has actually been dropping following the surge that began in the 1970s, the number of divorces among those over 50, called Gray Divorce, is climbing dramatically. In one sense, it’s not unexpected. Many of today’s 55+ couples are the Boomers who themselves were the children of…
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Navigating the maze of additional insurance.

Do I Really Need Additional Insurance?

You’re at the rental car counter reading the punishing consequences of not buying the additional coverage. You’re trying to remember if your auto policy covers you, or if the credit card you’re using does that, or if your travel insurance protects you. Looking back at the line of impatient people behind you, you swallow hard,…
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Understanding the necessity of a personal finances go-bag.

You Need a “Personal Finances Go Bag!”

The year 2020 has shown us that, despite typical emergency planning, atypical disruptions can affect your personal finances, particularly bill paying. Staying current with bill paying is critical to protecting your home, health, car, as well as meeting any obligations to family and friends. The team at Eddy & Schein has updated a long-proven survival…
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Financial consultant assisting senior couple with their taxes.

Helping Senior Parents Organize for 2020 Tax Preparation

Useful tips for supporting aging parents with tax record keeping and documents. Each year, particularly at tax time, more and more adult children of aging parents take on the often-difficult job of helping manage aspects of their parents’ personal finances. Tracking expenses, locating and updating documents, and getting it all organized for review and hand-off…
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Considering senior living options during the pandemic.

Evaluating Senior Living Options during the COVID-19 Pandemic

Considerations for three main senior living options during the pandemic. In our work as Personal Finance Managers, we are often asked to help evaluate the financial impact of different living situations for seniors. We collaborate with Aging Life Care Experts/Geriatric Care Managers as they assist families in assessing living options. Here are some of the…
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Man And Woman Doing Financial Budgeting

Are You Going to Preserve Your Quarantine-Learned Financial Behaviors as the American Economy Re-Opens?

The COVID-19 pandemic and resulting U.S. economic downturn have inspired considerable reflection about our sense of financial security. For those who lost jobs and income, the importance of having some savings to help meet housing costs and bills was highlighted. For everyone, reviewing spending patterns for possible cutbacks seemed prudent since circumstances beyond our control…
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Senior Couple Calculating Budget

CARES Act and Your Retirement Opportunities

The CARES Act stimulus legislation passed this Spring offers tax opportunities for certain retirees. As part of the stimulus legislation to combat the economic effects of the coronavirus pandemic, Congress suspended the mandated payouts (called required minimum distributions, or RMDs) this year for various retirement plans. These include IRAs and 401(k)-type plans. There will be…
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Side view of businessman video conferencing with coworker on desktop PC at office desk

Providing Our Clients Continuity During COVID-19

Working remotely is not new for Eddy & Schein Group. While we miss visiting clients in their homes as we practice social distancing, we continue to provide our valuable services, even during the quarantine. The technology at our disposal and our company procedures have always allowed us to interface with clients, monitor accounts, solve financial…
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Geriatric Care Managers and Home Health Aides: Our Heroes

In the midst of the global pandemic, very few people remain unaffected. With so many communities being encouraged to remain indoors and maintain social distancing, COVID-19 shines a light on the unseen heroes that keep our society in motion.  In addition to essential workers, medical professionals, the postal service, grocery store employees, pharmacists, sanitation workers,…
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