News Affecting Your Financial Life – January 2020 Issue
The January 2020 edition of Fairman Group Perspectives highlights the retirement plan changes, Medicare costs, and college costs and trends.
2019-2020 College Cost Data
Each year, the College Board releases its annual Trends in College Pricing report that highlights current college costs and trends. Tuition and fees increased 2.3%; room and board increased 2.9% for in-state students. Private college increased a little more with a total cost of $53K.
Do You Need Life Insurance?
If you’re unsure about whether you should buy life insurance, ask yourself: If I died today with no life insurance, would my family need to make substantial financial sacrifices and give up their lifestyle in order to meet their financial obligations.
Are You An Empty Nester Planning Your Next Nest?
Meet the Carlsons: James, age 60, is a VP and Director at a publicly-held company headquartered in Radnor, PA. His compensation package includes stock options, restricted stock and deferred compensation, in addition to his base salary and bonus. His wife, Jeanne, age 58, owns a small Public Relations firm in Wayne, PA. She is self-employed. Their three children are out of the house, each with their own personal and financial challenges. As new empty nesters, James and Jeanne are ready to pursue some of the home projects they have talked about for years. Their 30-year-old Main Line home is charming, but will need some remodeling to look fresh to buyers if and when they eventually sell it.
