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Long-term care (LTC) has been on my mind a lot lately. Maybe it's having aging parents and in-laws, or perhaps it was seeing the movie "Amour." It's such an important topic that I discussed it on television during the week week. On the radio show, a Canadian listener warned about some of the perils of LTC, while Michelle wonders purchasing life insurance might be advisable to guard against portfolio care-induced erosion.
Kathy from NY has been working with an independent financial advisor, but wants to make sure that she educates herself to better manage the relationship. Speaking of advisors, a bunch of people are trying to select a pro and finding it difficult to distinguish among the numerous choices. Joe from Buffalo is weighing a NAPFA advisor against one from Schwab; Melissa's potential advisor works through an organization that is unfamiliar to her; "S" is trying to determine whether a fee-only advisor who uses proprietary software is preferable to another who allows him to export data; and David in Texas is being told that an old retirement account should be used to purchase an annuity-does that make sense?
Retirement is on the mind of Pete from Baltimore, who is retiring soon and asked whether a Managed Payout fund would make sense to augment his two other sources of income. A listener from New York needs to know whether he can rely on a large municipal bond portfolio for retirement income; Mark from Alaska wants to know whether he should dump two insurance policies, now that he is retired; and Ken wants to make sure his retirement plan is on the right track.
We fielded a couple of mortgage questions, from very different circumstances: should John from Houston pay off his mortgage and should Mike take a mortgage on a property that he owns free and clear?
On the investment front, Alan and Vicki both need a reality check on their allocations; Dave from NY wondered about how ex-divided works; and Greg is seeking an alternative to his 0.8 percent CDs.
Here are web sites and resources mentioned in this week's show:
-- NAPFA: National Association of Personal Financial Advisors (fee-only advisors)
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