The maximum contribution limits to tax-deferred savings accounts have been set for 2022. You can put more into employer-sponsored plans, but not individual accounts. IRA contribution limits, whether Traditional or Roth, will remain the same as it has been since 2019. You can contribute $6,000 and if you are age 50 or higher, you can make a $1,000 catch-up contribution. [...]
Like most people, I don’t want to pay more taxes than necessary. That common-sense approach to money began when I got my first job at the age of 13. I was paid $1.50/hour, slightly above the $1.30 minimum wage. I calculated exactly how much my first paycheck would be. But when I got it, somebody must have used new math, [...]
Alhambra's Bob Williams answers the question, "What do I do if I choose the wrong Medicare Plan?".
Talk to anyone who’s about to go on Medicare and they’ll tell you that figuring out what plan to choose will make you pull your hair out (which is probably not covered by Medicare). There are so many things to consider, from drug coverage, to copays and coinsurance, emergency room visits, hospital stays, the network of available doctors, the network [...]
Alhambra's Bob Williams has a list of considerations to help you determine your perfect retirement age.
It may not be public enemy number one, but inflation is certainly near the top of the list. Since the beginning of 2021, prices of almost everything have gone into orbit. Energy prices are up an average of 56%. Airline tickets are up almost 25%. Used car prices have jumped more than 45%. And it seems there’s no slowdown in [...]
Alhambra's Bob Williams explains whether the timing of taking a Social Security benefit will affect the amount received by their spouse.
Alhambra's Bob Williams answers a question about collecting a Social Security Survivor Benefit on an ex-spouse's work history if you've been remarried after the divorce.
Customer service is mostly dead. It’s probably housed in the Smithsonian along with the T-Rex and TV rabbit ears. As technology has progressed and Millennials have come of age, we have been pushed, sometimes kicking and screaming, to conduct personal business online. The Social Security Administration is no exception. Call the SSA and you will hear, “Offices are open to [...]
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