Those of you who rely, or will rely, on Social Security and Medicare should watch this video. Social Security and Medicare Update-2016 provides detail on where these programs are financially. Social Security Claiming Trying to figure out the details of Social Security? Trying to decide when to begin collecting your benefits? This post may help: Social…
Social Security Claiming: Retirement, Spousal and Survivor Benefits. Both An Economic and a Personal Decision.
Knowing when and how to claim your Social Security benefits is not easy. However, a November 2015 law made certain claiming strategies easier to understand, but not as lucrative for married couples. Let’s take a look at strategies to collect monthly Social Security amounts when both you and your spouse are living. We will review…
Does “Work and Life” Make You Happy? If So, Don’t Apologize or Stop “Working”, But Keep Learning.
Much has been said of work/life balance. This terminology has evolved over many, many years. It began as work/leisure balance and in the 1980’s evolved into work/life balance. People look at the term work/life balance differently. I look at it as work and life. Work/life balance is a concept which includes proper prioritization between work…
Gift Your Money Now or Leave an Inheritance Later. It Can be Both a Financial and Emotional Decision
You have budgeted, saved and invested throughout your career. Now, you hope you have saved enough money to last through your retirement years. You have a will, which details who gets any assets that remain after your passing. Do you want to wait until your passing to leave an inheritance for your family? Or should…
Representative Payee: A Caregiver Managing Money
Do you know someone elderly who needs help handling their money? Have you worried about whether an elderly family member is spending their money wisely or being scammed? Do you worry that an elderly friend’s day to day needs are being met? Do you believe you can help manage their money? That is the purpose…
Getting Money Out of Your 401(k) or 403(b) Plan
The video link below describes 4 ways of getting money out of your 401(k) or 403(b) Plan. If this is of interest, you may want to read Have You Checked Your Retirement Plan Lately, What You Should Do With Your 401(K) When You Switch Jobs or Retire or Required Minimum Distributions. Getting Money Out of Your…
House Passes the American Health Care Act
On May 4, 2017, the House of Representatives passed the American Health Care Act (AHCA). With some changes, this is essentially the same law that was pulled from consideration by the House back in March. Compared to the Affordable Care Act (ACA or Obamacare), the AHCA repeals the health insurance mandate for both individuals and…
Covered by Medicare, Should You Have Additional Health Insurance?
It’s often wise to purchase health insurance to supplement your Original Medicare coverage, because Medicare generally won’t cover all of your medical expenses. Usually, you’ll have to satisfy a deductible before Medicare pays anything. You will also pay a co-payment when you visit a physician or are admitted to the hospital. Medigap May Plug the…
Baby Boomer Tax Planning: 4 Tax Learnings
There are 4 tax season learnings which may impact Baby Boomer tax planning. Volunteering to Prepare Tax Returns: The Happiness Effect describes the benefits of AARP’s tax return preparation program for seniors. When I prepared tax returns for seniors most taxpayers used the standard deduction, some received the earned income credit and there were many one time…
4 Key Estate Planning Documents Everyone Should Consider
Most people think estate planning documents only address your finances. However, these documents also allow you to name someone to make decisions on your behalf. Those decisions might be about your money, your health, your family or anything else which is important to you. This 3 minute video will give you vital information about 4…
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