Nicole’s 78-year-old mom is paying huge fees for low returns. How can Nicole help her mom make better investments?
Paul is a single dad, worried about paying his daughter’s college costs. He’s trying to figure out how to report lower income on the FAFSA, so that his daughter can get better financial aid.
Nick is in his 40’s. His long-term care insurance rate is nearly doubling. Should he stop spending on this type of insurance?
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Chapters: 00:00 - Introduction 03:01 - Question 1: retired mom's multiple financial advisors 05:58 - Analysis on listener's mom's financial situation 10:22 - Discussion of RMD strategy 16:26 - Wrap up of advice for Nicole 34:16 - Question 2: Long term care insurance rate increases 37:05 - Analysis of long term care insurance options 40:33 - Recommendations on managing long term care costs 49:31 - Question 3: Saving up to pay for daughter's college 53:08 - Strategies to minimize income while saving up for college costs
