Anyone who casually watches television or listens to the radio likely hears about someone selling a strategy to pay off debt. After all, debt causes many problems in people's lives. For many, they choose to avoid amassing any deficit in the first place. Debt, however, can serve a valuable purpose. You can't pay cash for everything all the time, so borrowing becomes a viable option. You can't go overboard, though. Borrow strategically. Doing so could help you amass wealth.

Good Debt vs Bad Debt
Maxing out your credit card with unnecessary vacations and eating out twice a day adds up to bad debt. You throw money away when borrowing nonessentials to live beyond your means. Borrowing money to purchase a reliable computer to help your business, however, makes sense. The new computer could help the business generate income in many different ways. Yes, there is both good debt and bad debt. Good debt works to your advantage and helps you further yourself in life. Bad debt serves no purpose and harm's your life. Bad debt drags down credit scores and takes away funds better served in an investment vehicle. Before you borrow, think about the pros and cons of the resulting debt.

Gearing Up
Borrowing excessively to launch a business can create troubles. Using your own capital, however, may deplete all your savings and liquidity. If the business' cash flow doesn't generate enough funds, you won't get your losses back. If the business folds, you may end up in dire financial trouble. Also, you may not have enough money to run the business properly. Undercapitalization can drag a company down. Saving money makes sense but cutting out necessary items due to a starvation budget isn't beneficial. Borrowing money incrementally at strategic points could lead a business to a stable footing. Be wise with any financing plans and business investments might benefit.

Things to Watch Out For
The lending and borrowing landscape could change in the coming year. The Small Business Administration may come up with an interesting new loan program. Private lending sources might free up additional funds at lower rates. And then there is CECL: current expected credit loss, a new type of accounting standard. CECL will be implemented in 2020, and while it will affect lenders, you don't have to worry about it affecting your investing strategy too much. Educate yourself about CECL to become aware of how it works.

Debt isn't always a bad thing. Learn how debt works for and against you. Then, leverage it properly to achieve your goal of building wealth.

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Whether someone you love has been diagnosed with a terminal illness or is simply getting older — or even if you are the one facing these decisions — end of life plans are an uncomfortable but necessary conversation. After all, people who take the time to plan their end-of-life care have a higher quality of life in their last days and tend to stay less time in the hospital. Discussing plans at this point is the best way to ensure your loved one passes away with dignity and peace of mind.
 
Bringing It Up
 
Many people prefer to take control of their own end-of-life arrangements and will feel confident enough to bring up the matter themselves. However, most people are not comfortable contemplating their death. A survey found that 60 percent of people feel it is important to spare their family from making tough choices, yet 56 percent had not yet broached the subject. If they are not forthcoming, it may be up to you to start the conversation. However, do not sideline them. Delicately say you think the subject needs to be discussed and ask whether they would rather do so now or at another time. If they say another time, schedule the conversation for a specific date and time.
 
What You Need to Talk About
 
Everyone will have different things they need to consider, but here are a few subjects most people will need to discuss.

• Money: How are you paying for end-of-life care and for funeral arrangements? You may want to discuss selling a life insurance policy to free up some cash for this. Just remember that in order for your policy to have a cash value, it needs to be a permanent life insurance policy (but it is possible to convert a term policy into a permanent policy). Also, if your loved one owns a house, you may need to sell the property to afford the cost of long-term care.
• Location: Where do they want to spend their last days? The vast majority would prefer to die at home, which has been shown to lead to more peace and less grief, but this involves more complex care and considerations.
• Care: What kind of care do they want to receive? Talk them through the multiple options (chest compressions, breathing and feeding tubes, etc) so they can get a clear idea of what they want.
• Funeral Arrangements: Do they wish to be buried, cremated, or another option entirely? Who would they like to be invited? What would they want to wear?
• Documentation: Have they made the necessary legal arrangements? According to the AARP, a living will and power of attorney are the minimum that they should have in place. If they don’t, what can you do to help them get this in order?

 
Making the Conversation Productive
 
There is no doubt that this is an incredibly difficult conversation to have. It is almost inevitable that you will feel overwhelmed at some point, but you will need to strike a balance in terms of how emotional you get. It is okay — and even healthy — to cry or express sadness. However, remember that the conversation should be about the person whose plans you are discussing, and their emotions should take precedence. Do not make it about you and your feelings.
 
You will also need to stick to the point. It is useful to enter the conversation with a list of points you need to hit. The Conversation Project, which works to facilitate end-of-life planning within families, has an excellent starter kit that can help with this. This document allows you to put your thoughts in order before approaching your loved one and gives you a frame of reference for the conversation.
 
Remember that if you do not get the answers you need now, it will only get harder. Making the conversation productive and keeping it on-topic means you don’t have to have it again and allows everyone to make the most of the remaining time.
 
Making end-of-life plans can be one of the hardest conversations you have, but that is no reason to avoid it. The bottom line is that these decisions must be made at some point. Talking about it now means your loved one gets to be included in the decisions surrounding their own death and you won’t have to worry about wondering whether you’re getting it right in a time of crisis. 

For many seniors, those who are retired, or those close to retirement , a trip to the dentist can be quite scary. Many of these people are afraid of something being found that will be expensive or will cause problems in the future that they don’t want to deal with, or don’t feel able to do anything about it. Because of this many rarely find their way to the dentist office.

As a result, they end up living with pain, discomfort, and dental conditions such as crooked or missing teeth, which can cause serious health concerns, but can also impact self-confidence and self-esteem. Thus, when things get bad enough to make a dental appointment a necessity, many people fail to go about choosing a dentist in the best manner.

When this happens, a number of things might occur, such as having procedures go horribly wrong, thousands of dollars in unexpected costs, or other unpleasant surprises. To make sure this doesn't happen to you, here are some of the biggest dangers that may be encountered when choosing the wrong dentist.

Unexpected Costs

While many people who are retired have some sort of dental insurance, they still make numerous mistakes when choosing a dentist. One of the biggest involves choosing a dentist that is not within the dental insurer's network, which can lead to hundreds or thousands of dollars in out-of-pocket costs. This can be extremely difficult as the access to such information can be somewhat obscured, and hard to find.

However, many people fail to realize this when they choose a dentist, and only find out when they are presented with the bill. To keep this from happening, always check with any dentist you are considering using to see if they participate in your dental insurance network, or check with your employer before contacting any dentist. Dental offices will treat you with respect and will do everything they can to help you, so answering these sorts of questions isn’t a problem!

Past History of Problems

Before using any dental professional, always make sure you thoroughly check out their credentials, as well as seeing if they have a reputation for having had past problems with patients regarding faulty procedures or other issues. It’s also essential to learn how they treat older adults. Some doctors and dentists have bad habits of not listening to the concerns of what they see as “elderly people” thinking they are too sensitive or weak. Which is why it’s absolutely vital to find one that has a good relationship with their older patients.

While any dentist will likely be licensed to practice in your state, they may have had numerous complaints lodged against them by patients for performing unnecessary or incorrect procedures. Also, if once you're in the exam chair they start suggesting you have various types of procedures done, it's always best to seek a second opinion. In many situations, they are either trying to run up your bill as high as possible, or may be working with a specialist, such as an orthodontist or periodontist, to steer unsuspecting patients their way.

Improper Training

In some dental offices, neither the dentist nor the staff has been thoroughly trained in today's state-of-the-art dental technology. As a result, once a patient sits down in the exam chair, it can become a very dangerous situation. Dentists are held to the same standards as doctors and when they mess up it is also a form of medical malpractice.

For example, an error with anesthesia might result in the wrongful death of dental patients. In another instance, instruments used have not been properly sterilized, causing infections. And in other situations, materials may have been improperly prepared, leading to cavities that are not properly filled, resulting in additional problems. To keep this from happening, always find out about the training of the dental staff, including dental assistants and dental hygienists.

Since these people will be providing much of your treatment during your visit, making sure they are trained, experienced professionals can make all the difference.

Outdated Technology

While a decade or so ago x-rays were done by radiography, today's modern dental offices rely on digital x-ray technology to get a better look at patient's teeth. Since this updated technology can detect cavities that in years past would not have been detected by traditional x-rays, it can prevent numerous problems from occurring.

Therefore, if you choose a dentist and then find they don't use digital x-rays or other types of modern equipment or techniques, excuse yourself and find a dentist who does, since your dental health will be at stake.

Lack of Respect for Patients

If you arrive for your dental appointment and feel very uncomfortable around the dentist and staff, you need to look elsewhere. For example, if the staff or dentist lectures you, belittles you, or attempts to pressure you into agreeing to expensive treatments that may not be necessary, you've chosen the wrong dentist. Like stated before, this is doubly important for those who are retired or seem older since sometimes people in this situation can be mistreated.

To make sure you have the right dentist and staff for your needs, always make sure you are not kept waiting long periods of time after you arrive for your appointment, are treated with the utmost respect, and are kept well-informed about any procedures you may need, as well as the costs associated with your treatment.

The Takeaway

Perhaps most of all, always trust your instincts when trying to choose a dentist. If you don't, you'll regret it in regards to cost and the quality of treatment. For example, if you find the dental equipment and supplies they are using are not from the U.S., or they try to sell you extras such as dietary supplements, chances are they are simply interested in getting as much money out of your pocket as possible. By following the above-mentioned advice, your oral health will be put in the hands of dental professionals you can trust.

Here are a couple articles we think you’d also enjoy:

• Health Tips to Help You Skip Dentures After 80
• The 5 Kinds of Insurance You Need in Place Before Retirement

Your real estate investments and the choices you make regarding them will largely affect the quality of your retirement. In the past decade, we have seen countless retirees watch their retirement savings go down the drain due to poor real estate decisions, or real estate scams. Be sure to take time to educate yourself regarding these common scams. 

Hacking

One of the biggest problems regarding real estate these days is hacking. Hackers have gained the ability to enter into complex computer networks and do things such as stealing your down payment. Fraud prevention expert Robert Siciliano says, “a hacker could fool you into thinking he's your agent and trick you into sending him money, which you'll never get back. It's so bad the FTC even sent an alert warning consumers that real estate agents email accounts are getting hacked.” Be sure to do your due diligence, and keep your guard up regarding hackers. 

Bait and Switch Scam

If selling a home is part of your retirement plan, then beware of the classic “bait and switch” scam, which has plagued real estate for quite some time. This involves the prospective buyer placing an offer which is well above the market value. The seller of the home, in their excitement, signs off on the deal. However, the “buyer” has no true intentions of purchasing the home. After the contract is signed, the seller is locked into the deal for weeks or months, unable to speak with authentic buyers. 

The scammer then tells the seller a story as to why the price no longer works for them. They proceed to make an offer far below market value. More often than not, the seller, under the pressure of time and ongoing costs, agrees to the lower offer. You can avoid this scam by confirming the buyer has adequate funds before they sign the contract. Also, refuse to grant extensions or reductions in price. If the scammer attempts to lower the price based on the condition of the home, remember to request an inspector to verify these claims. 

Loan Modification Scams

Usually, a homeowner seeks for a loan modification in order to prevent foreclosure. If the homeowner gets behind on their mortgage payment, they are approached by someone who claims to be affiliated with a government organization which isn't true. This person offers to help for an upfront fee. No legitimate source of help will ask for an upfront fee or for financial information right away. These offers should be turned away. If you find yourself in this type of situation, contact your lender to work with them directly to prevent foreclosure.

Conclusion

When making decisions regarding real estate, especially if your retirement is concerned, it is important to deal with verified real estate professionals. Be open with them about your process and allow them to assist you. Many people, when they finally realized they are being scammed or led into a sour deal, are embarrassed and ashamed. In their embarrassment, they try to hide their mistakes. Doing such can cost you your retirement, so always be transparent with your real estate professionals.

For more advice for planning your retirement, check out our wonderful homepage!

References:
Real Estate Elevated | How Real Estate Investors Can Protect Themselves From Scams
Scam-Detector | 10 Real Estate Scams That You Need To Avoid Today
Bankrate | Avoiding mortgage modification scams

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