Financial Planning

The Cost of Medicare Going Up Again in 2020

By |2019-06-19T10:59:09-04:00June 19th, 2019|Financial Planning|

When the Social Security and Medicare Trustees’ Report was released a few weeks ago, the news that the Medicare Part A hospital insurance trust fund is expected to go broke in 2026 obscured other important information in the report. In particular, the report contained preliminary numbers for an increase in Medicare Part B premiums and [...]

Future Retirees Often Overestimate Social Security Benefits

By |2019-06-11T14:35:03-04:00June 11th, 2019|Financial Planning|

It’s shocking to say, but a large percentage of future retirees are woefully misinformed about Social Security—how they claim benefits, when they claim benefits, and how much they’ll receive—just to name a few Social Security topics. Financial author Mary Beth Franklin just reviewed the latest annual survey of people retired and those who will be [...]

Widows, Widowers, and Social Security

By |2019-05-23T13:51:21-04:00May 23rd, 2019|Financial Planning|

Can you find happiness without giving up Social Security benefits? Millions of widowed and divorced baby boomers are finding love after loss and looking for guidance on how to update their financial plan to suit their new romantic status. According to financial writer Mary Beth Franklin, the good news is that surviving spouses have more [...]

Don’t Make This Deadly IRA Mistake

By |2019-05-22T12:44:34-04:00May 22nd, 2019|Financial Planning|

“So, who do I want to get my IRA? My spouse? My kids? But I don’t want to leave out the grandkids. Oh, I’ll just fill it in later.”   You’d be surprised how often that mental conversation goes on when someone is looking at the beneficiary section of their IRA application. And for most, [...]

Will You Be Part of the Gray Workforce?

By |2019-05-13T14:16:11-04:00May 13th, 2019|Financial Planning|

For the first time in U.S. history, more than 20% of retirement age workers are choosing to stay in the workforce. That’s more than double the number who made that decision in 1985, according to a new report from United Income. The reason is simple—they don’t have enough money. For some, they’ve never recovered the [...]