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 consume chunks...
It’s the end of an era, at least for Baby Boomers. Some have already retired; many more can see the finish line of their working years. For Boomers with highly appreciated company stock in their 401(k) a major decision is whether to do an IRA rollover, leave the money in the employer plan,...
It sounds crazy, but if you’re healthy you probably need to save more for retirement than people with a battery of health issues. Why? Statistically, people who are healthy will live longer. That means more years paying for healthcare in a system where costs continue to increase exponentially. So, the longer you live the...
Medicare is a veritable alphabet soup of choices. There’s Part A, Part B, Part C, Part D, and when you get into Medicare Supplements, there are 10 options—A, B, C, D, F, G, K, L, M, and N. Make the wrong choices and you could be hit with lifetime...
It’s common knowledge that age 65 is when you enroll in Medicare. Failing to sign up at that time means that when you do enroll, you’ll be hit with late enrollment penalties that increase your Medicare premiums for the rest of your life. But if you work past 65 and...
So, you’re almost eligible for Medicare. For many who have struggled with health insurance since Congress passed Obamacare in 2010, going on Medicare is a step up from the expensive, high deductible, limited option plans available to them. But Medicare can be problematic too if you don’t know what...
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...
I recently got a letter from the Social Security Administration saying I might have some money in a 401(k) plan at an employer I worked for 20 years ago. I was intrigued—but not hopeful. I thought I’d rolled over everything, but old advice is still good advice—don’t leave money...
Alhambra's Bob Williams describes how working past age 70, after delayed credits have stopped, can still increase your Social Security benefit.