Almost one-quarter of the 65 million people receiving Social Security rely on it for 90% of their retirement income. They’re locked in and there’s nothing they can do to get a bigger check except cross their fingers and hope for a cost-of-living raise every year.
No one wants to be...
When the Social Security and Medicare Trustees’ Report was released a few weeks ago, the news that the Medicare Part A hospital insurance trust fund is expected to go broke in 2026 obscured other important information in the report.
In particular, the report contained preliminary numbers for an increase in...
I was having a
conversation about retirement health insurance with an acquaintance of mine who
just retired. He’s a former corporate executive—an analytical person—who’s
always done his homework to avoid as many surprises as possible in the business
world. He’s done the same thing with healthcare and decided that a Medigap
policy is best...
Congratulations! You’ve started taking Social Security. You worked long and hard to build up that addition to your retirement income. Now, enjoy it.
Oh, by the way, there is that small matter of… taxes. What you receive from Social Security has been called a benefit, a payment, and a deposit....
Morningstar
Last week, Morningstar named the best 529 college savings plans for 2018. College savings plans are without a doubt the best vehicle to save for education. These plans allow investors to skip federal taxes on investment growth to pay for college and its associated costs. For many investors, that means...
What feeling do you have when you hear IRS? Is
there a sick feeling in the pit of your stomach or do you just roll your eyes
knowing that April 15th will be here all too quickly? Throw in the
word audit and emotions and blood pressure can reach levels you never...
“I
can’t wait to get on Medicare!” I’m hearing that more often from people
approaching 65 years old. Since the passage of the Affordable Care Act (ACA) in
2010 health insurance has become anything but affordable. I know people paying
more for their health insurance than they pay for their mortgage. On top...
Retirement. It’s a magic word and it’s supposed to be a magic time in your life. You’ve planned for it, worked for it, anticipated it, and expected a great life that comes after it.
Today, people are retiring at a rate 27% higher than 10 years ago. Much of the...