Retiring Abroad: Key Financial Insights for a Smooth Transition
Michael highlights that retiring abroad can stretch your dollars further, offering lower living costs and better healthcare. He advises budgeting for private insurance, understanding tax obligations, and meeting residency requirements. Planning with a cross-border financial planner and aligning estate strategies with local laws ensures a financially smart retirement overseas.
Debt Collection Complaints Surge Amid Economic Strain and Scams
Michael notes, “Inflation and high interest rates have pushed more consumers into delinquency.” He sees a mix of aggressive collectors and scammers exploiting the situation. Increased consumer awareness is leading to more reports, reflecting both frustration and fraud in the industry.
Savings Bonds: A Safe Gift for Children's Financial Future
Michael advises that gifting EE or I Bonds is a financial favor for a child's future. "I Bonds hedge against inflation," while EE Bonds double in value after 20 years. Though low-risk and backed by the U.S. Treasury, they may not match other long-term investments. Consider them as part of a diversified plan for balanced growth.