Alhambra's Bob Williams explains how a Health Savings Account can be a retirement planning tool as well as a financial planning tool.
Here are some disturbing facts. Approximately 25% of American adults have nothing—ZERO—saved for retirement and only 36% are on track with retirement savings. Don’t be discouraged if you’re behind in saving; it’s never too late to begin. The question is, “What should I do and what savings goals should...
Alhambra's Bob Williams answers the question, "Do I lose half my Social Security in the Divorce?"
An old chewing gum slogan used to be, “Double Your Pleasure, Double Your Fun.” Many retirees are being hit with a one-two punch that is neither pleasurable nor fun. First came the highest inflation in 40 years, eating away at their retirement income and reducing purchasing power. Now, many...
Since the beginning of 401(k) plans in 1978, people have considered it to be the quintessential retirement plan—you get to save money before taxes and in most cases, the company puts money into your account, too. What could be better than that? But now, 44 years later, it’s time...
Looking into a crystal ball and prognosticating the future is always a risky endeavor, but when it comes to Social Security and the year 2023 there are 4 things that have a high probability of happening.
Cost of Living Increase
In 2022, Social Security recipients received a 5.9% cost-of-living adjustment (COLA)....
How would you like to waste a lot of the money you spend on Medicare coverage and miss a bunch of the benefits Medicare provides? Crazy question. But that’s exactly what’s happening to millions of Medicare beneficiaries.
In October 2021, the insurance website MedicareAdvantage.com published the results of its most...
Alhambra's Bob Williams explains Social Security Cost of Living Adjustments and their effect on the Survivor Benefit.
For Americans born in the 1970’s and beyond, these are unprecedented times. For most Americans, these are uncertain times. For retirees, whose income is being assaulted by high inflation and loss of purchasing power, it’s unlucky and unfair, making them unhappy and forcing some into unretirement.
According to the Bureau...
Health Savings Accounts (HSA) for retired folks. Isn’t that a novel idea? But it’s being considered in Congress—The Health Savings for Seniors Act, H.R. 3796.
As it stands right now, the only people eligible for an HSA are those aged 65 years and younger who have a high-deductible health insurance...