Last week, I discussed a key challenge in personal finance: that in a field where we would expect facts and logic to drive decisions, we instead find that misconceptions and misunderstandings often take hold. Last time, I outlined five common financial myths. Below are five more: “When a company [...]
Long-term solutions
A few weeks back, I discussed some of the challenges with traditional long-term care (LTC) insurance: In addition to steep—and rising—premiums, these policies are complex. Many policyholders have to contend with an annual renewal letter that presents a mind-numbing matrix of options. But there’s [...]
Long-term concern
Long-term care (LTC) insurance policies are, in my opinion, both a blessing and a curse. They're a blessing because they can help cover critical, and expensive, care when a family might have no other financial options. But they can also feel like a curse. That's because of what many policyholders [...]
Choosing an umbrella
On February 27, 1992, Stella Liebeck ordered a cup of coffee from a McDonald’s drive-through. But moments later, as she attempted to open the lid, the cup spilled, causing a burn that sent her to the hospital. Her injury was serious but self-inflicted and not life-threatening. Nonetheless, she sued [...]
Life insurance buyer’s guide
In my role as a financial planner, I hear a lot of stories, but by far the most appalling and upsetting are those having to do with life insurance. All too often, insurance salesmen leave clients with policies that are simultaneously overpriced, inadequate and inappropriate. Life insurance is a big [...]
