Transition Thursday: Tax, Legal & Financial Issues

Savvy Seniors Seminar Tax Leg & Financial Issues

 

We all know there can sometimes be complexities related to the transfer of property. More times than not families try to solve these problems during a crisis, but creating a contingency plan in advance is a far better way of dealing with potential pitfalls. Your home is often your most valuable asset and there are thing you need to know before you move forward with any major decisions that will impact your future.

You may be asking…

  • What legal documents are needed when selling my home?
  • What are the tax implications of owning, selling, or transferring property??
  • How should property be deeded to avoid potential future challenges?
  • What other issues should I be aware of?

Join us to hear first hand from legal, financial and tax experts about how to avoid common challenges faced by families just like yours.

February 7, 2018
10 – 11:30 AM

Lafayette Library
Community Hall
3491 Mt Diablo Blvd
Lafayette CA

To register, call 925-788-6582 or go online to the Savvy Seniors Living Website.

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DAYNA WILSON: As a real estate agent I have been working with homebuyers and sellers throughout the East Bay communities of Layfayette, Moraga, Orinda and Walnut Creek since 2009. As a Certified Senior Housing Professional (CSHP) , I have special knowledge about everything from reverse mortgages to the importance of universal design. I can tap into my network and put you in touch with my team of qualified home inspectors, movers, attorneys, CPAs, organizers and other experts. I have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home.

Call me today to talk about your real estate concerns. I’m here to listen: 925.788.6582

Transition Thursday: Relationship Advice for Couples Who Stagger Retirement

Baby Boomer Couple Talking with Financial Advisor

In the AARP article Advice for Couples Who Stagger Retirement, author Margery D. Rosen writes that planning can be tricky if one opts out of the workforce before the other, also known as “Out-of-Sync Retirement Syndrome”:

“As 76 million boomers march toward what was once a generally agreed-upon ‘retirement age,’ many are poorly prepared for the conflicts unleashed when one partner retires and the other continues to toil. ‘Retirement can magnify preexisting problems in a marriage,’ says social historian Stephanie Coontz. ‘The decision to stop work forces you to reevaluate what you both want — and you may discover the gaps are wider than either of you thought.'”

Boomers in particular may struggle with this transition.

“‘In the past, most couples took it for granted that when one of them retired, the other would, too — and they usually faced only the husband’s retirement,’ says sociologist Phyllis Moen, author of Encore Adulthood: Boomers on the Edge of Risk, Renewal, and Purpose. ‘Two-career boomers are the first generation that has had to deal with his-and-her retirements.'”

Another issue: Many 50+ women in the workforce opted for the “mommy track,” putting their careers on hold while they raised their families.

“Then, when their nests emptied, they reentered the workforce with renewed ambition. Today, more than 25 percent of women ages 65 to 69 — and 15.5 percent of women ages 70 to 74 — are employed full time. (The figures for men are 33 percent and 24 percent.) Not only do they enjoy the regular paycheck, they also don’t want to lose the intellectual stimulation and social life a job often provides. ‘While husbands may be thinking about volunteering, traveling or having more time as a couple,’ notes Dorian Mintzer, coauthor of The Couple’s Retirement Puzzle, ‘their wives may be hitting their stride at work. Both spouses are in transition, but they’re traveling different roads.'”

Read the rest at Advice for Couples Who Stagger Retirement.

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DAYNA WILSON: As a real estate agent I have been working with homebuyers and sellers throughout the East Bay communities of Layfayette, Moraga, Orinda and Walnut Creek since 2009. As a Certified Senior Housing Professional (CSHP) , I have special knowledge about everything from reverse mortgages to the importance of universal design. I can tap into my network and put you in touch with my team of qualified home inspectors, movers, attorneys, CPAs, organizers and other experts. I have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home.

Call me today to talk about your real estate concerns. I’m here to listen: 925.788.6582

Transition Thursday: Baby Boomers are Rewriting Retirement History

Baby Boomer Couple Talking with Financial Advisor

In the Kiplinger article Baby Boomers are Rewriting Retirement History, author Scott Hanson, CFP writes:

“If I say the word ‘retirement,’ what comes to mind? Sunsets? Golfing? Cruises? Most of the people I work with don’t want anything to do with a retirement that has them sailing toward a sunset of irrelevance. The people I speak with want a retirement packed with meaning, new careers and new experiences.”

Hanson writes about the medical advance that changed everything:

“It was the discovery of penicillin in 1928, and markedly increased lifespans, which led to the concept of the modern retirement that we’re familiar with today. People began living longer and naturally working longer — resulting in a glut of workers that eventually led to unemployment and stagnation, a big problem for the first time.

At the height of the Great Depression, it became apparent that the way to increase efficiency and lower unemployment was to encourage older workers to retire. However, many older workers were not willing (or in many cases, able) to quit. It just wasn’t in their DNA. Life had always been about work, and now they were being asked to stop. In response, President Franklin D. Roosevelt proposed the Social Security Act of 1935.

Suddenly, you could retire and still have income.

But this gave rise to a new problem: Americans had ‘nothing’ to do. What were retirees to do with all that extra time? It’s no wonder the Baby Boomer generation is rewriting the definition of retirement by continuing to work.”

Read more at Baby Boomers are Rewriting Retirement History.

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DAYNA WILSON: As a real estate agent I have been working with homebuyers and sellers throughout the East Bay communities of Layfayette, Moraga, Orinda and Walnut Creek since 2009. As a Certified Senior Housing Professional (CSHP) , I have special knowledge about everything from reverse mortgages to the importance of universal design. I can tap into my network and put you in touch with my team of qualified home inspectors, movers, attorneys, CPAs, organizers and other experts. I have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home.

Call me today to talk about your real estate concerns. I’m here to listen: 925.788.6582

Transition Thursday: 7 Things to Do Before You Retire in 2018

Baby Boomer Couple Talking with Financial Advisor

In the US News & World Report article 7 Things to Do Before You Retire in 2018, author Abby Hayes writes:

“If you plan to retire in 2018, now is the time to start planning for your transition into retirement. You will need to set up new health insurance, max out your workplace benefits while you still can and take last-minute steps to sure up your finances. Here are seven ways to make sure you’re ready to retire next year.”

Here are some tasks to put on your retirement To Do list you may not have considered:

Use your paid time off. Check into your bank of vacation time or paid time off. You should definitely use this before you retire, unless you can translate those banked days into cash at the end of your working years. If you plan to look for a new place to live in retirement, that’s an especially good use of any banked time off you have available.

Make a plan for your time. Figure out what you plan to do with your time during retirement. The transition from working every day to a life of leisure can be surprisingly emotional. The best way to fend off boredom and depression is to stay active physically, mentally and socially.”

Read more advice at 7 Things to Do Before You Retire in 2018.

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DAYNA WILSON: As a real estate agent I have been working with homebuyers and sellers throughout the East Bay communities of Layfayette, Moraga, Orinda and Walnut Creek since 2009. As a Certified Senior Housing Professional (CSHP) , I have special knowledge about everything from reverse mortgages to the importance of universal design. I can tap into my network and put you in touch with my team of qualified home inspectors, movers, attorneys, CPAs, organizers and other experts. I have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home.

Call me today to talk about your real estate concerns. I’m here to listen: 925.788.6582