Rick Bloom's Corner

CD Scams

  It seems a few times every year I talk to someone who’s been scammed by purchasing bogus CDs. I recently met a man who lost $50,000 in one of these scams. What is so frustrating to me is that the scams are so similar and year after year people continue to fall for them. […]

(Q & A) Exploring Bankruptcy

  Dear Rick: I have a 27-year-old son who is totally fiscally irresponsible. I just discovered that he is in severe debt, and I just had to give him money to pay his utility bills. They were about ready to shut his service off unless he made a payment. Currently, he owes about $75,000 on […]

Spring Cleaning your Financial Records

OBSERVER & ECCENTRIC NEWSPAPERS COLUMN April 12, 2018 Spring Cleaning your Financial Records by Rick Bloom It may not feel like spring, but it is. It also means that the majority of you have already filed your 2017 tax returns. Therefore, with winter weather in the forecast, this is a great time of year to […]

  Dear Rick: I made a terrible mistake and I hope you can give me some advice. About three years ago I sold my house. I am a widow, and all the kids were out of the house, so I decided to downsize. My original plan was to sell my house and use the proceeds […]

Tips and Fees

  In many situations technology has certainly made our lives easier. After all, we can now bank, shop and pay bills online which certainly makes life easier. However, there are also times that technology can create awkward situations. A few weeks ago I was at a restaurant and when the waitress brought the bill she […]

(Q & A) Annuities

  Dear Rick: Five years ago when I retired I sat down with someone to discuss what I should do with my 401(k). They convinced me that the best thing to do would be to put the money into an annuity because I couldn’t lose money. I was also told at the time that I […]

  The IRS announced last week that unclaimed federal income tax refunds for 2014 totaled $1.1 billion. What that means is that there are hundreds of thousands of taxpayers who did not file their 2014 tax return and are owed over a billion dollars by the federal government. Therefore, unless these people file their 2014 […]

  Dear Rick: I just inherited $150,000 and my husband and I can’t decide what to do with the money. Our situation is that we both work and our salaries more than cover all of our living expenses. We each have a 401(k) Plan and some savings accounts. We are debt free except for our […]

Overspending in Retirement

  Recently, I had a meeting with a client who had retired about two years ago. A few years before he retired we restructured his portfolio to match his changing goals and objectives. At the time we developed the strategy the client said that they would need $4,000 to $5,000 a month to cover all […]

(Q & A) Non-IRA Annuities

  Dear Rick: I’m helping my 80-year-old father with his finances and I have some questions. My dad, a number of years ago, purchased a non-IRA annuity. He paid $100,000 and today it’s worth about $150,000. The annuity matures in another month or so and the agent has been hounding my dad to roll the […]

Rick Bloom Newsletter

Add your email address to subscribe.

Connect with Us