When to Collect Social Security Benefits?
A common question asked when planning for your retirement is “what age should I take my Social Security benefits?” I think there is a better question to ask yourself which is “do I want to have more money earlier or later in retirement?” Timing does matter in retirement. Once you put a little thought into […]
Year-End Tax Planning Strategies
It is important to plan for taxes year-round in order to be adequately prepared to file your tax return the following April. However, this is especially true towards the end of the calendar year when it is time to make sure your ducks are in a row. This blog will highlight some areas that are […]
The Psychology of Saving: Behavioral Finance Hacks for Your Retirement Fund
Planning for retirement can feel like a daunting task, especially when so much of your income already goes toward current needs and goals. Yet, understanding the psychology behind your spending and saving behaviors can help you make smarter decisions to boost your retirement funds. While traditional savings methods can be effective, blending them with behavioral […]
Key Medicare Information 2024
Medicare vs. Medicaid- Both Government sponsored health insurance Premiums: Deductibles: Coinsurances: What’s covered? A few examples: Options: When to sign up: Important things to know:
The Role of Insurance in Financial Planning: What Clients Should Consider
Many do not generally relate insurance to financial planning, it can have a huge effect on your financial well-being. Insurance plays a huge role in your overall financial picture and it is extremely important to make sure you are not only covered, but that the amount of coverage fits your individualized needs. While insurance can […]
Prior Income Determines Your Medicare Premium
Did you know that you may have to pay a higher premium for Medicare Part B and Medicare Part D based on a tax return from 2 years ago? Medicare Part B and Part D use a two-year clawback to determine premiums. The result is a surcharge, known as the Income Related Monthly Adjustment Amount […]
The Real Cost of Not Enrolling in Medicare When Eligible
Medicare is confusing. The main Medicare coverages are Medicare Part A, Medicare Part B, and Medicare Part D. On top of that, there are also optional Medicare supplement and advantage plans. To make things more confusing, you could get stuck with a late enrollment penalty for all your main Medicare coverages. This can happen if […]
Budgeting For the Big Expenses
Budgeting for big expenses can seem daunting, but with a good plan, you can manage your finances and prepare for these large purchases more efficiently and effectively. No matter how accurate and detailed your monthly budget is, life will occasionally throw a large and possibly unexpected expense your way. This could be a big medical […]
How to Use Your IRA for Real Estate Investments
Let’s imagine you want to invest in real estate. Maybe you want to purchase a new rental property to start earning additional income, but you don’t have cash on hand and you don’t want to take out a loan from the bank. What other options are there? One option is to use funds in your […]
Mid-Year Tax Planning: The Key to Understanding Your Tax Bill
Have you ever gotten a tax bill at the end of the year and thought, “how could I possibly owe this much?” Or received a large refund and said “wow, I sure could have used this throughout the year…” If you have, you’re not alone! Utilizing a mid-year tax plan can be the key to […]
