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 […]
“Our Economy is Strong Overall”
The US economy is fine. We now know that the interest rate cut for September 2024 is a half of one percent or 50 basis points. Federal Reserve Chairperson Jerome Powell made it very clear on multiple occasions during his press conference yesterday that the interest rate cut determined by the Federal Open Market Committee […]
September 2024 Brings Effective Date for Department of Labor ERISA Fiduciary Rule
Earlier this year, the Department of Labor issued its final language and other clarifications to the Retirement Security Rule which will become effective September 23, 2024. This has been years in the making and aims to protect individuals in an attempt to ensure they receive unbiased advice as retirement investors. What is a Fiduciary: Before […]
Buying an Investment Property: Things to Consider
Investing into real estate can be a great way to add an income stream for anyone who is considering going down this path. Whether you are looking to buy a commercial property or a residential property, these types of investments can be very valuable, and they can be a differentiating asset. When I was 20 […]
The Value of Expert Advice
My wife and I are in the midst of a great adventure that had us sell a house in one state, rent for a couple of years in another state, then buy a home in a third state. While people buy and sell real estate without the help of a realtor, I, as a real […]
Enhancing Financial Decisions: Understanding Behavioral Finance in the Real World
Every day, millions of people make financial decisions influenced by psychological biases rather than pure logic. Behavioral finance explores how these biases affect our choices, helping to explain why we sometimes make irrational decisions. In this post, we’ll explore several key concepts within behavioral finance and see how they apply to real-world scenarios. Anchoring Bias: […]
