David E. Hultstrom, President of Financial Architects, recently explained why past-performance is not a great way to evaluate financial advisors. Essentially, no one has a working crystal ball. Hultstrom wrote the following in the May, 2023 edition of Financial Foundations. Why would I leave out past performance in selecting an advisor, or current performance for […]
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The Consumer Financial Protection Bureau has published new tools on Reverse Mortgages. The tool box includes basic information, eligibility, information about fees and how reverse mortgages are repaid.
At one time or another, many seniors consider adding a child as a co-signer on his or her bank account. Whether that is wise depends on a common understanding of why the senior is adding the child, and the child’s integrity. For example, most bank accounts are owned as joint tenants with rights of survivorship. […]
On April 26, 2021, the Consumer Financial Protection Bureau’s Office of Financial Protection for Older Americans sent us a link to the following resources: Managing Someone Else’s Money – these guides are for financial caregivers who are managing the money or property of a loved one who is incapacitated Planning for retirement – a tool to help […]