Jason Hand

The stresses of self-isolation are wearying everyone as we shelter in place to beat back the coronavirus. Here are some tips on how to manage better, especially in protecting the relationship with your spouse or partner.

Battling coronavirus has put most of us into self-isolation for weeks now. And it may feel like years.

When dealing with financial affairs, actions in one area can spill over into another. Sometimes these unintended consequences can be avoided; other times they don’t reveal themselves until it’s too late. Here’s what you need to be aware of when it comes to Social Security and Medicare.

What do you do when a strategy or action that solves one problem inadvertently creates a new one? And what if the remedy to the new problem has the potential to cause still another problem?

With such a high standard deduction, taxpayers may not get additional itemized deductions for charitable donations. However, with a little clever planning in charitable giving, taxpayers can exceed the standard deduction, start itemizing again, and lower their tax bill.

When a parent is considering giving or lending a child money, the key question is whether it’s empowering or enabling. You need to structure a transfer that is best for both generations.

There is no question that parents have a hard time being objective about helping their kids financially. This is where a financial advisor can come in, one who doesn’t just run numbers, but gets to know your family and offers advice to include both generations.

Parental help: empowering or enabling?

Jay L. Gershman, Retirement Visions LLC, West Hartford

Don’t make the mistake I made - Deciding whether to decline the University Health plan isn’t simple anymore!

 IRA or 401(k)? Know the key differences between these two popular retirement plans to ensure you are saving in the right account.

Individual retirement accounts (IRAs) and 401(k) s share a lot of similarities. They are both retirement plans. They both can help you lower your tax bill today, provide tax-deferred growth, and help provide an income source in retirement.

Jay L. Gershman, Retirement Visions LLC, West Hartford

Yes, a reverse of the old saying is sometimes more appropriate when the stock and bond markets seem too risky. I must admit, with our onslaught of financial and political news, that remaining fully invested is an emotional challenge. After all, China tariffs, Iran knocking out Saudi Oil, a possible Trump impeachment and sign of a slower economy can lead many investors to believe that doing something is better than doing nothing. However, I might offer a brief counter argument.

Jay L. Gershman, Retirement Visions LLC, West Hartford

 According to a recent study, retirees will collectively lose $3.4 trillion in potential income that they could spend during their retirement because they claimed Social Security at a sub-optimal time

While you were working, you likely relied on employer insurance. But after retirement your options are different, and that requires careful planning.