People live all of their lives planning to retire, but once they do retire, they often times do not develop a “retirement plan.” A recent USA Today article explains how the transition to retirement takes time.
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When, and how, should I tap into my various retirement accounts? Social Security, retirement plans, or other sources of funding. A recent USA Today article gives you some ideas. To read more, click here.
Many of our customers have in home care. These workers may provide companion care, other workers may run errands for our customers and still other workers are housekeepers. The care is often paid for by cash or check. But what is your legal relationship to these workers? Have these workers been properly vetted? Are the individuals properly insured? What happens if the worker steals something from your house? What happens if they fall in your house? What happens if they use your car and are in a traffic accident?
If any of these things happen, you can be held liable. These workers can also be considered to be your employees and you will be held liable for unemployment insurance, worker’s compensation insurance, withholding taxes and Social Security taxes?
What should you do? You should only hire workers through a properly insured and vetted agency. Such workers should clearly be described as our customer’s contractors. And these workers must be covered by unemployment compensation programs, worker’s compensation, liability insurance and they should be subject to the payment of all taxes.
There are a number of articles that have been written on common mistakes couples have made in retirement. A recent USA Today article finds that many couples fail to plan for emergencies and, in many couples, only one spouse handles the family’s finances. What happens if the spouse that gets sick is the spouse that handles the investments, bill and expenses? To read more, click here