Ask Bob: Social Security And Divorce
Alhambra's Bob Williams answers the question, "Do I lose half my Social Security in the Divorce?"
Ask Bob: Complex Assets
Alhambra's Bob Williams describes a type of investment not often thought of as a possible charitable donation, but one that lets you and the charity win.
4 Social Security Changes to Expect in 2023
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). It was the biggest increase in 40 years. [...]
Wasting Money on Medicare
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 recent survey of Medicare beneficiaries. What it found was disturbing. [...]
Ask Bob: Social Security COLAs
Alhambra's Bob Williams explains Social Security Cost of Living Adjustments and their effect on the Survivor Benefit.
Letting Retirees Save for Healthcare Tax-Free
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 plan meaning you have to pay $1,400 out-of-pocket for [...]
Inherited Health Savings Accounts—Not a Beneficiary’s Best Friend
The Health Savings Account has been a wonderful addition to the financial landscape of people who are eligible for one. They’re often thought of as a way to pay for qualified medical expenses with pre-tax money during your working years for things like deductibles, copays, and non-covered items—in other words, things not covered by insurance. You can’t make contributions to [...]
The Do’s and Don’t’s When Signing Up for Medicare
Happy Birthday! You’re turning 65. There’s cake and ice cream, presents, and your application for Medicare. Yep, this is when you sign up for the federal health insurance program you’ve been paying for all your working life. Signing up isn’t difficult, but there are things you need to know to get the most out of Medicare and avoid penalties (yes [...]
Preparing for Diminished Capacity—Just in Case
It’s been pounded into us that having a successful retirement requires advance planning—financial planning, Social Security planning, retirement income planning, and estate planning. And now, there’s another component to be considered—planning what happens in the event you have a decline in mental capacity. The Administration for Community Living estimates there are 54.1 million Americans who are 65 years old or [...]
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