Percy E. Bolton Associates, Inc.

Blogs

Picking a Financial Caretaker

At some point in your life, you may need a financial caretaker to pay your bills, watch over your investments and take care of your tax filings. For many people, the choice is easy - most often adult children or nieces and nephews are willing to help. For some people, there may not be anyone who you can easily turn to. What do you do if you are in this situation?Hire a friend and a professional. If you do not have family you trust to help with your finances, consider hiring a friend your trust.
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Making a Home Age Friendly

Most people would prefer to grow old in their home for as long as possible. There are a number of factors that keep this from happening; loss of transportation once they can no longer drive, loss of surrounding friends resulting in loneliness and lack of interaction, and health concerns that make it difficult to live without additional help. One factor that can often easily be fixed is making certain your home can be modified to accommodate you as you age. What does that entail?
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Caught in the Medicare and Medicaid Crunch

Caught in the Medicare and Medicaid CrunchToday, seniors are the fastest growing segment of the U.S. population. While many baby boomers have outgrown childcare issues, many may already be (or will shortly be) facing the issues of long-term care for their parents. While the options for care have expanded beyond nursing homes to include home health care and assisted living/residential care facilities, the public funding available for financial assistance remains very limited.
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Assigning Financial Caretaking Roles

When people think about older adults and money, a worry high on the list is fraud and abuse. While it is important to guard against this possibility, the biggest risk to your financial security as you age is actually your own actions. Decreasing ability to make complex financial decisions occurs early in the aging process. The decline may not be noticeable to you or your family, and suspicious financial transactions may be the first sign that a problem exists.
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The Importance of Starting Early

We have all heard the saying that practice makes perfect. This is so true and there is a physiologic reason why; when we do something repeatedly, our brain creates neural pathways that to make that action the default. Whether it is throwing a ball, memorizing a song, or driving a car, the more we do it, the more the action becomes a natural part of our processes. We don't have to think about how to throw a ball or drive a car, we just do it.
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Elder Care Discussions

Emotions involved with caring for the elderly can seem almost as overwhelming as the finances. As your loved ones age, what topics must you be ready to discuss? Beyond money, you need to talk about independence and basic preferences for the way individuals want to live or die.First, realize that you’re far from alone. According to the Genworth 2014 Cost of Care Survey, at least 70% of people older than 65 will eventually need some degree of long-term care (national median daily
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All You Need To Know About Eldercare Arrangements

 It’s never too early to think about how and where you want to live when you’re older.How far in advance do you plan vacations? A month at the very least, right? You’ve booked the flights and hotels, taken time off of work, gotten the kids out of school and looked forward to it from the moment you made the final arrangements. This is the positive way we like to view Eldercare.Granted, the circumstances may be tough. You could be having trouble getting around, taking care o
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Aging Parents and Money

Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Parents aren’t likely to recognize their own declining abilities, so knowing when and how to step in to help is important. Here are some tips.
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Beware Scams At Tax Time

Identity theft runs rampant during tax season. Identity thieves often swipe your bank or credit card account numbers, birth date information or Social Security Number (SSN) to steal from your accounts, open a new and phony account or make illegal purchases. Some 15.4 million consumers were victims of identity theft or fraud last year, according to a new report from Javelin Strategy & Research.
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A Menu of Trust Options

A trust is an instrument set up to hold the property of an individual, often called the grantor, for one or more designated beneficiaries. The following glossary provides a brief description of various types of trusts. Because trusts are complex, it is essential that you consult a professional. Your financial professional can work with your attorney and accountant to help you determine which trust best fits your family living and estate objectives.
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Housing Options for Older Individuals

As you grow older, your housing needs may change. Maybe you will get tired of doing yardwork. You might want to retire in sunny California or live close to your grandchildren in Texas. Perhaps you will need to live in a nursing home or an assisted-living facility. Or, after considering your options, you may even decide to stay where you are. When the time comes to evaluate your housing situation, you will have numerous options available to you.
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5 Big Problems To Solve Before You Retire

5 Big Problems to Solve Before You Retire It seems, sometimes, as though financial professionals come in only two flavors. There are those who promise everything is going to be fine; you don't have to fret about retirement, they say, because they'll help you make more than enough money to get you through. And then there are the hand-wringers who just can't stop with the worrying and their warnings that you'll never have enough. Somewhere in the middle is the reality, of course.
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10 Things You Must Know About Medicare

10 Things You Must Know About Medicare Heading into your retirement years brings a slew of new topics to grapple with, and one of the most maddening may be Medicare. Figuring out when to enroll, what to enroll in and what coverage will be best for you can be daunting. To help you wade easily into the waters, here are ten essential things you need to know about Medicare. Medicare Comes with a Cost Medicare is divided into parts. Part A, which pays for hospital services, is free if either you o
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Financial Considerations for Single Women

If you’re single, divorced widowed or separated, money management will become an important part of your life. While it may be true that money can’t buy or ensure happiness, your ability to manage your finances can play a large role in your financial future, and to a large extent, your ability to live life on your terms.   A huge amount of time is not necessarily required to get your finances moving in the right direction. It is often simply a matter
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An IRA: The Road to Retirement

One of the best known and mostly widely retirement planning tools is the Individual Retirement Account (IRA). If you are planning for your retirement you should consider opening an IRA.Who qualifies for the deduction? Practically anyone can open and contribute to a traditional IRA. The only requirements are that you must have taxable compensation and be under age 70 1/2;.
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Contribution Limits for Tax Year 2018

The Internal Revenue Service recently announced cost of living adjustments affecting dollar limitations for retirement-related items for tax year 2018.  Detailed in Notice 2017-64, here are the excerpts directly from the IRS: Highlights of Changes for 2018 The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased from $18,000 to $18,500. The income ranges for determining eligibility to make ded
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Continuing Care Retirement Communities

Do you sometimes think about what your life will be like when you retire? Most people imagine living independently in comfortable and safe surroundings, preferably residing in their own home. With longer life spans and advances in health care, many retirees—if they retire early enough—may have several decades or more to enjoy their "golden years."Continuing care retirement communities (CCRCs),also known as life-care communities, accommodate active, healthy older adults
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Long Term Care

Better to be safe than sorry. As you enter your "golden years," perhaps you imagine yourself traveling, visiting grandchildren, or pursuing a favorite hobby. Unfortunately, none of us can predict what the future may bring. But, according to the U.S. Department of Health and Human Services, more than 70% of individuals over the age of 65 will ultimately require some form of long-term care (LTC). LTC refers to a wide range of medical
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Real Estate Market in 2018

Location, Location and Retirement As we look toward 2018, the housing market continues to show few signs of slowing down, although there are hints of developing headwinds. While it's true that housing prices are very much geographically based, across the entire U.S., experts are predicting home prices to rise about 4.5 – 5.5% this year. Let us examine a few facts and predictions. Current State of Housing According to the U.S. Census Bureau, home ownership stands at about 64%.As the e
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Estate Planning in the Digital Age

Estate Planning for your digital assets What will happen to your Facebook account when you die? What about all your photos shared on social media, your texts with loved ones, or documents on cloud-storage systems? In just the two-year period from 2012 to 2014, humans produced more data than in all of human civilization before that – and the pace is only accelerating.It's not clear what people's digital presences will look like in years to come, but it's sure that an increasing
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5 Signs You Need A Financial Planner

Asking for help is a sign of strength, not weakness Sometimes it's hard to ask for help and you think you can – or should – handle things yourself. Whether it's taking care of a nagging injury, fixing the sink, changing the oil in your car or doing your own taxes. The same questions often arise about finances and financial planning. You have questions that you consider silly or stupid and feel that you should handle alone so you don't seek help. This is not necessarily t
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A New Ball Game for Early Retirement

An early retirement is on everyone's "wish list." A relaxing lifestyle in a warmer climate, or the pursuit of a hobby or personal interest typically characterizes the vision of a comfortable retirement. Today, however, it's a new ball game. Unfortunately, retiring later, not sooner, than anticipated is becoming a fact of life. On the other hand, there are some issues you can address in advance that may help you defy the increasing norm. The key is to take a proactive role when
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Who'll be in Control When You Can't Be

One thing is for certain: Life is unpredictable. But, it is still important to prepare for the future and whatever it may hold. Have you ever considered what would happen if you were to experience an accident or illness that left you incapacitated and no longer able to make important financial decisions? While this unpleasant prospect may be difficult to think about, you can prepare to establish a measure of control in your life should you become incapacitated. One strategy is to establish a&nbs
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Countdown to Retirement: Strategies For Savings

The Baby Boom generation has entered another era: retirement. Never known for accepting the status quo, Baby Boomers are ready to redefine the "golden years." Forget about endless days of leisure. This generation seeks adventure, travel, and new business pursuits. While these changes may redefine retirement, will Boomers be able to finance their plans? Today, many people age 50 and older have not begun to save for retirement or have yet to accumulate sufficient funds.If you're in t
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Check the background of this financial professional on FINRA's BrokerCheck