Rick Bloom's Corner

Renting your Home

  The other day I was having a conversation with a new client, and the question came up about renting his home out for the summer. As the client told me, generally for the months of July, August and September he lives with one of his children who live out of state. The client was […]

(Q & A) Tax Issue

  Dear Rick: I was approached about funding a multi-year project through my church. My commitment is for five years and the church told me that by using my IRA I wouldn’t have to pay any taxes. I went to my bank where my IRA is located to get the forms and they told me […]

Retirement and Annuity Investments-

  I recently met with a potential new client to discuss their retirement situation. Basically, the gentleman is in his late sixties, divorced and is not worried about leaving an inheritance. He came to me after attending one of those dinners where they talk about annuities and he wanted a second opinion. He was considering […]

(Q & A) Portfolio Issue

  Dear Rick: I need your help with an overall allocation for my portfolio. My situation is that I am 58 years old, divorced with two adult children. I have no dependents and I plan to work until 62. When I retire at 62 I will receive a pension of approximately $5,000 a month. Other […]

Commissions

  At a recent talk that I gave I was asked a question about commissions. I explained how they work and why I don’t like them. At that point another attendee disagreed with me and explained that he worked on commission selling new cars and he thought there was nothing wrong with that. To his […]

(Q & A) Estate Plan Issue

  Dear Rick: I have a couple of questions with regard to estate planning that I hope you can help me with. I am in my early 70s and I have never done anything regarding a will or a trust. I’ve decided now is the time. My situation is I am a widow with three […]

  At a recent library speech I gave I was asked an estate planning question that I thought I would share with you. The couple explained that they were both in their 70s and had been married about five years. This was a second marriage for each of them as each of their previous spouses […]

(Q & A) Life Insurance

    Dear Rick: I have a life insurance issue that I hope you can help me with. I am in my mid 40s and have just gotten divorced. As part of the divorce settlement my ex-wife got my life insurance policy. Therefore, at this point in time I have no life insurance. My insurance […]

  Its high school graduation time and I first want to congratulate the graduates and their families. I also want to encourage the graduates to continue their education. College isn’t necessarily for everyone; however, to be successful in our new economy you’re going to need more than a high school diploma. Whether it’s a trade […]

(Q&A) Retiring Early

  Dear Rick: I am 61 years old, single, with no dependents. The company I have worked at for over 20 years announced that they’re going out of business. My original game plan was to work until I received my full Social Security, which is another five or so years. At that point, Social Security […]

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