Rick Bloom's Corner

GE’s Buyout Offer

    The other day GE announced that they will be offering many of its retirees a buyout of their pension. This is not something unusual and we’ve seen more and more of this over the last number of years. Not too long ago, Ford offered buyouts of its pension, and more recently, General Motors […]

Mortgage Question ~ (Q&A)

  Dear Rick: I have a question that I hope you can help me with. I am in my early 60s and retired. My financial situation is very secure. I have no dependents and I am single. My pension more than covers all of my living expenses. At this point I have not touched my […]

35 Years Ago

    My brother Ken and I just celebrated our 35th year in business. It was the summer of 1984 when we opened our business, and if I look back over the last 35 years, it is amazing how much our world has changed. Back in 1984, there was no such thing as cell phones, […]

Selecting a Financial Advisor

  A couple weeks ago I sat down with a potential new client. The individual had contacted me after attending one of my seminars and wanted me to manage his money. He came into my office and we had a nice conversation about the type of investor he is and his goals and objectives. After […]

Reverse Mortgage ~ (Q&A)

  Dear Rick: My husband and I are faced with a dilemma and we want your thoughts on it. My husband and I are both retired and are in our early 70s. My husband has a pension, which I will continue to get upon his death. We also both have Social Security, and we both […]

  It’s hard to believe that Labor Day has come and gone and that the days are getting shorter and the nights a little cooler. That means it is not too early to start thinking about whether there are any year-end tax or financial moves that you need to consider. Unfortunately, when it comes to […]

Discontinuing a 529 Education Plan ~ (Q&A)

  Dear Rick: I have a problem I hope you can help me with. I’m a widow; my husband died a few years ago. My husband and I were married for over 30 years. We had no children; however, my husband had a daughter from a previous relationship who lived with us. Eventually she got […]

Caring for Elderly Parents ~ (Q&A)

  Dear Rick: I hope you can help me with a couple questions that I have. My situation is that I’ve been divorced for about 10 years and have recently retired and moved back to Michigan in order to take care of my elderly parents. My parents are in their early 80s and are beginning […]

Annuities ~ (Q&A)

  Dear Rick: My husband and I have been retired since the beginning of the year. His pension along with both of our Social Security more than covers all of our expenses. In fact, since the beginning of the year we still have been saving money. We do have a nice size portfolio that’s invested […]

Trusted Contact Person

  Particularly, if you’re 65 or older, you may have recently been asked by your financial advisor, custodian, or brokerage firm if you would like to add a trusted contact person to your account. The reason for this is that with an aging U.S. population, financial exploitation of seniors is becoming a very real problem. […]

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