Rick Bloom's Corner

Pension Options- (Q & A)

Dear Rick: I am 66 and going to retire in a couple months and I’m lucky enough to get a pension.  I met with the company’s H.R. person to go over my options.  Basically, I have two options:  I can take the pension with a joint and survivor benefit, or if my wife agrees, the […]

  Last week my brother’s dog passed away. For anyone who has lost a pet you know how painful that can be. I bring this up because I haven’t talked about pets from a financial and legal standpoint for a while. Although those of us who own pets know how special they are to us; […]

 Dear Rick: I’m a Ford employee who’s been offered a buyout and decided to accept it.  My situation is I’m 62, single and totally debt free.  I have a very modest lifestyle and my pension will more than cover all my expenses.  In fact, I still will be able to save money.  I have a […]

Financial Issues 50 Years Ago

  Last week I read an article that looked at some of the financial issues that families faced 50 years ago and compared it to today.  Obviously, there is a major difference in the issues we face today than we did 50 years ago.  I thought I would give you my spin of some of […]

  Dear Rick: My wife and I just had our first child.  After reading a number of your articles we started a Michigan Education Savings account for our child and have encouraged our friends and relatives, as opposed to buying baby gifts, to make a contribution to their education account.  In addition, my wife and […]

Dealing with your Personal Finances

  It’s hard to believe that we’re already halfway through 2017. It seems the older I get the faster time goes by. Before you know it kids will be going back to school and the days will be getting shorter. When I was a kid it used to be that things slowed down in the […]

Tax Issue – (Q & A)

  Dear Rick: I have an IRS problem that I need your help with. A few years ago a very dear friend of mine passed away. I was named beneficiary of her IRA. When it came time to do my tax return my tax preparer told me that I did not have to pay tax […]

Buyouts

  Ford Motor Company has announced buy-out offers for about 15,000 employees.  The people eligible for the buyout have received materials from Ford detailing the terms of the offer.  As opposed to reviewing the terms of the buyout offer, what I will do here is give you some thoughts to consider.  These thoughts apply whether […]

  Dear Rick: I have been divorced for a little over a year. My ex-husband kept our house and for the last year I’ve been renting an apartment. I now have decided to buy. I’m going to buy a condo for about $200,000. I have a number of questions that I hope you can help […]

  The other day when I was at the dog park, I was approached by a couple who had a question about their investments. I thought I would share their question and my answer with you. Basically, they told me they are not supporters of and do not like President Trump. They felt that because […]

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