Each year, financial markets present new challenges for investors. So we would do well to remember Santayana’s famous, and often repeated, quote, which doesn’t refer to the exact repetition of events, but rather to our willingness to forget the lessons they teach.
As millions of Baby Boomers head into their retirement years, it’s surprising how few actually know that the government provides little more than a few weeks of financial support for home-based or nursing home care when the average person needs it for at least a year.
Questionable estate planning has gotten some recent attention with the sudden death of actor Heath Ledger. The 27-year-old actor died suddenly this year with an older will that provided only for his parents and other immediate family – he never revised those documents to accommodate his young daughter or the child’s mother.