Key Medicare Information for 2023
Medicare vs. Medicaid- Both Government sponsored health insurance Medicare’s beneficiaries are primarily age 65 and older or meet other exceptions. Beneficiaries have paid into the Medicare system through payroll taxes over their working life. Medicaid’s beneficiaries are low to moderate income individuals. This program is dependent on income. Premiums: Part A- Most people receive this […]
A Look at the Market – September 2023 Update
Up until September, the stock market had been having a great year rebounding 15% from the bear market of 2022. Then September came and the S&P 500 index dropped 5%. The narrative from investors changed from “peak interest rates” to “higher interest rates for longer” to “higher interest rates forever”. This new environment is reflected […]
Mastering Tax Loss Harvesting: A Strategic Guide to Lowering Your Tax Liability and Boosting Your Investments
You may have heard of the phrase “tax loss harvesting” in the context of sales of stocks or other investments, and wondered exactly what it means. Tax loss harvesting generally refers to selling investments (i.e. capital assets) at a loss, specifically timing them so that they offset gains (both capital and ordinary) in the same […]
Financial Planning for the Sandwich Generation
I’m partial to the classic PB&J. Now mind you, it has to be freshly made (morning preparation for a noon lunch will not do, too soggy) and constructed properly, two slices of a good hearty bread with peanut butter thickly spread on both slices, and a dollop of fruit preserves in the middle (apricot is […]
Navigating Your Retirement: Common Pre- and Post-Retirement Pitfalls
Retirement is a very significant milestone that requires careful planning to ensure you are comfortable in your golden years. Whether retirement is coming up in the next few years or you have already retired, avoiding common mistakes can save you a lot of headache and sleepless nights. In this article, we are going to look […]
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 two 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 […]
Helping Your Parents Age Gracefully – Care
In a perfect world your parents would not need any help as they age gracefully, but we well know this is not a perfect world. There are some seniors who are mentally sharp and physically spry well into their nineties. But this is not typical. As they age, most seniors will need some help and […]
To Rent or Buy: Navigating The Crossroads of Homeownership
Are you facing a complicated decision to rent or buy a home? If yes, you are not alone. Since starting my career in the financial services industry, I am often asked questions about the real estate market. In some regions, the cost of renting a home exceeds the mortgage payment, while in others it is […]
Helping Your Parents Age Gracefully – Finances
The last of the Baby Boomers (born 1946-1964) are contemplating retirement. The first of this generation are in their late seventies. For many of you, your parents are in this group, some from the previous generation (the Silent Generation were born 1928-1945). As they continue to mature, how can you help them age gracefully? In […]
