Personal Finance Advice and Commentary

Friday, January 23, 2015 10:29 am
By Jennie L. Phipps ·

Combining life insurance with long-term care works for some people, but it isn’t a good deal for others.

Thursday, October 02, 2014 2:50 pm
By Jennie L. Phipps ·

Should you be nervous? Prudential, the big dog in this business, says calm down. It has your back.

Tuesday, May 21, 2013 4:22 pm
By Jennie L. Phipps ·

African Americans earn less, save less and support extended families, making retirement planning more difficult.

Thursday, March 08, 2012 4:57 pm
By Jennie L. Phipps ·

Buying individual long-term care insurance is getting more difficult — yet another retirement-planning handicap.

Prudential has joined the list of major insurers that have dropped their business. Besides Prudential, these include MetLife and Unum Group, which have eliminated some group policies. All say the cost of offering this retirement protection is too high.

Large long-term care insurers still in the business of selling insurance to individuals include Genworth and John Hancock.

In the meantime, the IRS has increased deductibility levels for long-term care insurance policies purchased in 2012. If you run a small business — even one that you or you and your spouse operate part time — long-term care can be a significant tax deduction.

Thursday, December 22, 2011 6:00 am
By Jennie L. Phipps ·

So much of the promotion and advertising surrounding retirement focuses on scaring baby boomers straight, persuading them that they need to save money and buy insurance — or else. It’s a constant barrage of negativity. That’s why Prudential Financial’s new ad campaign — on TV, on billboards and online — is so appealing. Prudential’s retirement

Thursday, July 14, 2011 10:52 am
By Jennie L. Phipps ·

The disappearance of old-fashioned pensions is changing the way we think about retirement and how we pay for it. Prudential Retirement examined the financial impact of having a defined-contribution plan like a 401(k) compared to having a defined-benefit pension, which is the old-fashioned kind. I found Prudential’s conclusions troubling because they confirm the difficulty that