Home Financial Planning

Financial Planning

For approximately half of retirees, their Social Security check is just like the paycheck they received when working—they don’t get to keep all of it because it gets taxed by the IRS. If you’re single and your income is between $25,000-$34,000 you pay taxes on 50% of your benefit; above...
There’s been much debate about the Inflation Reduction Act President Biden signed into law on August 16, 2022. No matter what your political persuasion is or whether you consider the contents of the Act to be good, bad, or ugly, it does contain provisions that will improve Medicare Part...
Over the years, I’ve told you about lots of celebrities who died without an estate plan and how much their heirs lost because of estate taxes; Aretha Franklin-$27.5 million; Prince-$60 million; Elvis-73% of the estate at the time of his death. Now, another celebrity has died with no estate plan...
Woe to the person who inherits a Health Savings Account. Alhambra's Bob Williams describes the pitfalls and what to watch out for.
Medicare. The government defines it as “The federal health insurance program for people 65 and older.” That seems simple enough. But there’s more to it than meets the eye because Medicare, like so many other things, has fine print that could end up costing you a lot of money...
Since 1935, Social Security has been synonymous with retirement. It was always intended to supplement retirement income, never be a person’s total retirement income. Unfortunately, according to the Center on Budget and Policy Priorities, about half of older Americans rely on Social Security for at least 50% of their...
For months we’ve heard stories about record-high inflation not seen in the United States in more than 40 years. There’s been a plethora of reports about skyrocketing grocery prices, fuel prices, food shortages, and the doubling of power and utility bills. People talk constantly about the way inflation is...
What scares you the most when you think about retirement? The Transamerica Center for Retirement Services has been asking that question for 22 years. The Center just released its 2022 survey after talking to more than 5,800 adults contemplating their future. Here are the top 12 retirement fears this...
For those of us who’ve lived a while, we remember the “little black book”—the place you kept important contact information before the technology revolution. If you’re caring for elderly parents or you think that’s a possibility, encourage mom and dad to keep a little black book, not for dating...
Alhambra's Bob Williams answers the question of whether Social Security Spousal Benefits are affected if you receive a state pension.