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As the anniversary of the Social Security bill being signed into law (August 14, 1935)[i] approaches, we’re reminded of the intricate workings of the U.S. tax system. Social Security, a vital program designed to provide financial support to retired and disabled individuals, is funded through payroll taxes.[ii] Let’s explore the fundamentals of Social Security taxation, […]Continue reading
Even though you’re still working every day, carrying your full load of responsibilities, it’s crucial to cross your Ts and dot your Is for your new life ahead in retirement. These six tips are crucial to cross off your to-do list before you enter retirement. Address Your Budget for Retirement Put together a monthly budget […]Continue reading
With all this market volatility and inflation, talk about investment strategies and portfolio longevity seems to dominate the discussion on retirement. But one of the most important aspects of retirement is often overlooked: Medicare. Medicare is a an important health insurance that can provide the support you need to take care of your health in […]Continue reading
Long-term care is generally the most significant question mark when saving the optimal amount for your retirement years. According to Financial Professional Barry Bigelow, “statistically, if you’re a married couple, there’s a 25% chance one of you’ll need this type of care.” The concern here because, it’s an unknown expense based on unknown needs. This […]Continue reading
There are many benefits of being self-employed, but sometimes it can feel as though there are just as many hindrances. Many owners consider staying abreast of tax laws and changes tedious and frustrating, so partnering with an expert is generally in your best interest. If you’re looking for some positives, consider these deductions to help […]Continue reading
The new year is almost upon us! As you flip the calendar on January 1, you should mark some important deadlines to keep you on track: January 1st:Medicare Coverage starts – assuming you’ve paid your premium 1st:Annual Medicare Advantage Open Enrollment begins 15th:Deadline for Q4 2021 estimated tax payment February Click here for a […]Continue reading
Let’s start with the most echoed statement on the web: Americans are living longer but aren’t necessarily healthier, leading to health problems later in life. The U.S. Department of Health and Human Services reports that 69% of people will use long-term care services at some point. And that care comes with a cost: Long-term care […]Continue reading
Medicare open enrollment – also known as Medicare’s annual election period – runs from October 15 through December 7. During this window, Medicare plan enrollees can reevaluate their coverage and make changes or purchase new policies if they want to do so. For most Americans, Medicare eligibility goes hand in hand with turning 65, but some […]Continue reading
The 2019 Employee Wellness survey by PwC found that 73% of Millennials, 70% of Generation X, and 61% of Baby Boomers think health care costs will adversely affect their retirement. If a healthy 65-year-old couple retiring in 2019 expected to spend more than $387,000 for retirement health care costs, not including long-term care, what do you […]Continue reading
Dedicating time and headspace to planning can set you up for a health care approach that’s preventive rather than reactive, and that can offer peace of mind. Do you have a health care notebook? Being organized is the key to preparation during stressful times, so keep a journal or even use an app on […]Continue reading
