Rick Bloom's Corner

Increase in Insurance Premiums

  At a recent talk I gave, I was approached by two women with the same issue. It’s an issue that comes up more and more these days, and I thought I would give you my thoughts. The issue is what to do when you receive a substantial increase in your long-term care premium. First, […]

  Dear Rick: My husband and I recently attended a tax seminar, and one of the topics they talked about was having to take your minimum required distribution once you reach 70 ½. My husband turned 70 ½ last year, but we did not make a withdrawal from his IRA before the end of the […]

It’s Tax Time!

  Its tax time which means one of the most frequent questions I’m asked is, when I’m going to get my refund? In fact, just the other day, I received a call from a client who was somewhat panicking because he did not get his refund. I asked him when he filed his return and […]

(Q & A) Charge Card Debt

  Dear Rick: I am 60 years old, divorced and have never taken an active interest in my finances. I’ve never worried about saving for retirement, because I felt that when I retired, I’d be able to sell my business and that along with the inheritance I would receive from my parents, I would be […]

Tax Scams

  It’s tax time which means that the tax scammers are out in force. These scammers are good at what they do and use a variety of tactics and threats to either obtain your sensitive information, such as your Social Security number and credit card numbers, or they’re just out to steal your money. Either […]

(Q & A) Family Member Defaults on Loan

  Dear Rick: About three years ago I loaned my daughter $75,000 to buy a house. At that time, I wrote you and you told me that since this was a loan, I should have my daughter sign a promissory note, which I did. I also, following your recommendation, talked to my daughter and made […]

Green New Deal

  The other day I received a call from an upset client. As a financial advisor it is not unusual to receive calls from clients with serious issues as it is part of the job. What made my client so upset was the unveiling of the Green New Deal. For those of you who don’t […]

Tax Questions

  Dear Rick: I have a few tax questions that I hope you can help me with. First you should know I took your advice and went online for the free-file from the IRS. It is very easy to use and it really is free, so thank you. My first question deals with my tax […]

General Motors Layoff

  I am sure you’ve heard by now the disappointing news regarding layoffs at General Motors. Nearly 1,500 white-collar workers in our area will be permanently laid-off by General Motors. In addition, unfortunately, I believe that there will be additional layoffs in the not-so-distant future. You can argue all you want whether General Motors was […]

(Q & A) Life Insurance As An Investment

  Dear Rick: My wife and I have now been retired for over five years. When we first retired, we wrote to you about our situation. At the time, you said that since we were accumulating money, it made sense to use the extra money to pay off our mortgage and to do some Roth […]

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