Demolishing 8 Retirement Planning Myths

By |2023-03-08T12:25:02-05:00March 8th, 2023|Financial Planning, Retirement|

Isn’t it what we all plan for? At some point in your life, you’ll stop working and enter “The Retirement Zone.” It will require income that may come from Social Security, retirement accounts, annuities, investments, or any number of sources. Yes, being a successful retiree requires planning. But you have to know what’s good planning and what are just myths. [...]

The Lowest Medicare Part D Premiums Aren’t Always the Best Deal

By |2023-03-03T10:37:30-05:00March 3rd, 2023|Financial Planning, Retirement|

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 lowest premium Part D plan may actually be more expensive in [...]

The Perks of Having an Online Social Security Account

By |2023-02-15T08:33:46-05:00February 15th, 2023|Financial Planning, Retirement|

It’s called a “My Social Security” account. It’s often thought of as something for people getting Social Security benefits. In reality, there are positives for anyone who’s working and paying Social Security taxes.   Protect Your Social Security from Identity Thieves Once you set up a “My Social Security” account, you’re protected. There can never be more than one account [...]

The Face of Retiring Changes… Again

By |2023-01-30T14:15:39-05:00January 30th, 2023|Financial Planning, Retirement|

I can, I will, I can’t, I won’t. Those are all responses we’ve heard in the past two years about deciding to retire. The response you give or the response you get is directly related to the U.S. economy.   Before COVID, American workers age 55 and above were retiring at a rate of approximately one million per year. But [...]

The Married Couples Social Security Playbook

By |2023-01-23T11:42:44-05:00January 23rd, 2023|Financial Planning, Retirement|

Social Security is usually thought of in terms of an individual’s retirement benefit. But it’s equally important to understand the benefits of Social Security for married couples. Whether you’re a Baby Boomer spouse with limited work history because you stayed home to raise the kids, or a married couple who discovered during COVID that a happy family doesn’t require two [...]

9 Medicare Potholes That Can Cost You Big Time

By |2022-12-13T10:24:55-05:00December 13th, 2022|Financial Planning, Retirement|

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 to look for. Here are 9 of the most common Medicare [...]

2023 Retirement Plan Contribution Limits

By |2022-11-14T14:22:37-05:00November 14th, 2022|Financial Planning, Retirement|

Worried about saving enough for retirement? You can put away more next year. The IRS has just announced the new retirement plan contribution limits for 2023. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan increases to $22,500, up from $20,500. For individuals 50 and older, the catch-up contribution [...]

Social Security Announces 8.7% Cost of Living Adjustment for 2023

By |2022-10-13T14:53:58-04:00October 13th, 2022|Financial Planning, Retirement|

As expected, the Social Security Administration has announced that the 2023 Cost of Living Adjustment (COLA) will be the largest COLA in 42 years, brought on by rampant inflation not seen in more than four decades. Social Security benefits increase automatically if the Consumer Price Index (CPI-W) which measures price inflation for urban workers is more in the third quarter [...]

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