Rick Bloom's Corner

Early Retirement Offer – (Q & A)

  Dear Rick: As I am sure you know, Ford is offering an early retirement offer and I have chosen to accept it. I was planning to retire at the end of the year, so for me this is a bonus. I do, however, have some questions that I hope you can help me with. […]

CD or Fixed Annuity – (Q & A)

       Dear Rick:             I hope you can give me your opinion on my situation.  I’m a small business owner in my early 60s.  However, because of COVID I had to permanently close my business.  As a result, my wife and I decided that it makes sense for her to continue to work. […]

Investing during the Coronavirus Pandemic

It is hard to believe that we have been dealing with the Coronavirus for the last six months.  Although the crisis caused by the Coronavirus started out as a healthcare crisis, it has grown into a financial crisis that has affected just about everyone in America and around the world.  As investors, it was painful […]

Changes in the Dow Components

  It was announced last week that there is going to be a change to the components of the Dow Jones Industrial Average. Although, changes in Dow components are not unusual, this is the most significant change in a number of years. At a high level, there are three companies leaving the Dow and three […]

Dear Rick: My 18-year-old son will be going to college next month.  Because of all the issues with COVID, we really haven’t focused on any of the financial or legal issues that we probably should.  I know in the past you have addressed some of the issues that parents should be aware of, and I’m […]

Renting or Buying Property – (Q & A)

  Dear Rick: About a year ago, my wife and I sold our home.  At the time, our game plan was to buy a home on the west side of the state to be closer to our daughter.  Because of timing issues, we were planning to rent a condominium for about six to nine months.  […]

 Dear Rick:  My wife and I are in our mid-50s and she just took a buyout from her company.  I am planning to work for another 10 years and then I will retire.  The company I work for told me that they are not going to reopen their Michigan office, and that moving forward I […]

Sitting on Extra Cash – (Q & A)

  Dear Rick: A few years ago, the company that I worked for was bought out and I was let go. At that time, I talked to you about whether I should take a lump sum or the traditional pension. You recommended the pension because you said at the time it would cover all my […]

Mortgage Rates

  I used to think that in my 35 plus years in the financial industry, I had seen it all.  However, then came the Coronavirus and everything changed. We have entered a new world and things will be different moving forward.  That being said, something just happened that I never thought would happen.  What I’m […]

Dear Rick: My husband and I just welcomed our first child into the world and have a few questions as new parents.  First off, my husband and I both work for companies that provide us with a small amount of life insurance.  We can purchase additional insurance through our employers. Is it smart to buy […]

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