Financial Planning

Designate a Trusted Contact

By |2023-08-01T08:09:30-04:00August 1st, 2023|Financial Planning|

As a kid, I loved watching the Lone Ranger on television. He was the protector of those who couldn’t protect themselves. He stood between good people and the bad guys who wanted to steal their land or their money. The Lone Ranger would defend others when they couldn’t defend themselves.   Today, we’re much more sophisticated than the Old West, [...]

Estate Lessons from the Queen of Soul

By |2023-07-27T12:47:57-04:00July 27th, 2023|Estate Planning, Financial Planning|

When Aretha Franklin, the Queen of Soul, died in August 2018 she left behind a legendary career and a massive music legacy that touched millions of people. She also left an estate worth $80 million and a legendary family controversy because no one could find a Will, a Trust, or any kind of estate plan that outlined her wishes.   [...]

HSA Health Plan Deductibles Going up in 2024

By |2023-07-18T07:37:45-04:00July 18th, 2023|Financial Planning, Retirement|

It’s going to cost you more. What this time? Health Savings Account Plan deductibles. They’re driven by IRS rules for automatic inflation adjustment. And with inflation continuing to go up, so will next year’s HSA deductibles. In 2024, the minimum deductible for employee-only coverage will be $1,600, up from $1,500 in 2023, and the family coverage deductible will be $3,200, [...]

What to do Before the Tax Cuts and Jobs Act Sunsets

By |2023-07-11T07:45:09-04:00July 11th, 2023|Estate Planning, Financial Planning, Retirement|

Officially it’s called the Tax Cuts and Jobs Act (TCJA). More commonly it’s known as the Trump tax cuts. No matter what you call it, the provisions of the Act created in 2017 are set to expire on December 31, 2025.   The TCJA made massive changes for businesses and individuals. A tax cut on corporate profits A restructuring of [...]

Estate Planning No One Wants to Talk About

By |2023-07-07T10:45:34-04:00July 7th, 2023|Estate Planning, Financial Planning|

When you hear the words “Estate Planning” there’s a certain picture that pops into your mind. Most people think of it as having a plan that distributes the assets you’ve accumulated during your lifetime to the people and organizations you want to benefit after you’re gone. And that picture would be exactly right. But there’s a part of estate planning [...]

Medicare Will Now Cover Some Alzheimer’s Treatments

By |2023-06-14T06:13:52-04:00June 14th, 2023|Financial Planning, Retirement|

In 2021, they said yes. Then they said maybe. Now, Medicare has decided it will cover Alzheimer’s treatments for Medicare recipients who meet specific requirements.   In November 2021, the Centers for Medicare and Medicaid Services (CMS) announced the monthly Medicare Part B premium would go up for 14.5% to cover the high cost of the Alzheimer’s drug Aduhelm. Then, [...]

Single Moms Need an Estate Plan Too

By |2023-06-06T07:47:05-04:00June 6th, 2023|Estate Planning, Financial Planning|

The legal part of the divorce is behind you and you’re a single mom. Now, besides making a living and all the work that goes with that, you’re also responsible for the care of minor children—little people whose daily lives and long-term future depend on you. How will they be cared for if something happens to you? Will they be [...]

Are Seniors Getting Stiffed by Social Security?

By |2023-05-24T13:49:16-04:00May 23rd, 2023|Financial Planning, Retirement|

The past two years have seen historic Cost-of-Living Adjustments for Social Security recipients. The increases of 5.9% in 2022 and 8.7% in 2023 were the highest they’d been in 40 years because of rampant inflation. But unless things change by October, the COLA for 2024 will be substantially lower. According to the Bureau of Labor Statistics’ May 2023 report, [...]

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