Over the years, I’ve been given a couple of simple but profound pieces of financial advice. A man I looked up to told me that tax loopholes are illegal, but if something is in the IRS code it’s there to be used and if it applies to me… use...
With the end of the year in sight, lots of plans are being made—what gifts to buy, what the menu will be, and how to shed the extra weight that will inevitably be acquired. But part of your holiday planning needs to include a year-end investment checkup so you...
You’ve been planning for retirement for a long time. By your calculations, the money you’ve accumulated should be more than enough to live the retirement lifestyle you’ve dreamed about no matter how long you live. You’ve taken into account taxes, inflation, healthcare, and the cost of all the things...
It’s just human nature. When we buy something, we want to pay the lowest price and get the best deal. That same principle applies to America’s seniors when they turn 65 and have to choose a Medicare Part D Prescription drug plan. The problem, though, is that choosing the...
A really long time ago… in a galaxy far, far away… I worked for a building contractor. That experience taught me that every successful building project requires the right tools. And sometimes a project turns out just a little bit better because of a specialty tool, one with specific...
Since the Roth IRA was created by the Taxpayer Relief Act of 1997, it’ been an appealing addition to retirement planning. While contributions to a Roth are not tax-deductible, the trade-off is tax-free and penalty-free withdrawals after you cross the age of 59 ½. The withdrawal benefit is one...
There’s a common misconception that Medicare is a simple, automatic process when you turn 65. Nothing could be further from the truth. The responsibility to enroll is on your shoulders, and if you miss deadlines or don’t enroll in just the right way, you can incur penalties that will...
In a world where the price of everything is going up, Medicare recipients get a price cut beginning January 1, 2023. The Centers for Medicare and Medicaid Services (CMS) just announced that the monthly premium for Medicare Part B, which covers doctor visits, diagnostic tests, and other outpatient services,...