Dave Bernard

Discussing your health status can help you and your financial advisor plan for potential expenses such as needing a Medicare Supplement plan or long-term care coverage. With more baby boomers planning to continue active work past the age of 65, the possibility of having your position taken away from you grows. The most common form of creditable coverage past age 65 is a large employer group health plan. If you continue to work for an employer with 20 or more employees and keep their group plan, you can delay Medicare and continue to contribute to your HSA.

It’s certainly worth taking a look at these factors as although it may be harder to borrow money after retirement, it’s definitely not impossible. Using the drawdown from retirement method to calculate income Calculating available income is an important aspect of determining a mortgage application. In the case of anyone who is at least 59 ½, it’s possible to use withdrawals from a retirement account as a means of determining income. The debt to income ratio means that no more than 43% of a person’s income can go towards servicing a debt.

When it comes to the manufacturing the perfect retirement I don’t believe there is a generic one-size-fits-all recipe. I prefer to view retirement as a work-in-progress, a continually changing experience where we weed out what we don’t enjoy and add in what we love. I write this blog from a little two-seater rocking chair, looking out my front door at my recently pruned roses whose healthy shiny leaves are beginning to return for a new season. Combine one part majestic coastlines strewn with craggy rocks, add a dose of booming waves breaking mercilessly on said rocks, throw in a pinch of riotously blooming cacti, and last but not least include the possibility of spotting a breeching whale lingering on horizon – that is my recipe for inspiration.

This can be particularly true in the case of used cars, when the risk of problems arising is higher than with new cars. Drivers will often be covered by a three year warranty when buying a new car; used cars don’t come with this benefit, making them more of a risk in that sense. Strict safety regulations for new cars, along with the focus on safety features in the design of modern cars, mean that new cars are likely to be a safer option than older models. This might be particularly appealing for older drivers who tire more easily, particularly when it comes to lane assist, which recognizes when the car is veering out of a lane and immediately guides the steering wheel back into the correct lane.