Making the Most of Social Security in Retirement Planning
When planning for retirement, Social Security is generally one of the first topics that comes to mind and can be an extremely important piece to help ensure a secure retirement. The reason for this is that Social Security provides a guaranteed and inflation-adjusted stream of income that lasts for life. Also, if you are married […]
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 […]
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 […]
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 […]
How to Navigate the New Social Security Login Changes in 2024
The U.S. government has slowly changed its login requirements to strengthen their security and prevent data breaches as well as adhering to federal authentication standards.
I’ve received an Inheritance, Now What?
Having a family member or close friend pass away can be a very emotional experience. Things can become even more complicated when money is involved. Leaving an inheritance behind can be someone’s final way of telling their loved ones that they care about them, and you will want to use this gift wisely. Here are […]
3 Strategies to Consider When Taking Your RMD’s
When you retire there are things to consider before taking your required minimum distributions. Once you have reached the age of 73 you will be required to withdraw a specific amount from your tax deferred retirement accounts. These include your employer 401(k), 403(b), traditional, SEP and Simple IRAs. Due to the Secure Act 2.0, if […]
The Tax-Conscious Investor: Maximizing Returns by Minimizing Taxation
In today’s complex financial landscape, savvy investors understand that building a portfolio shouldn’t just be about maximizing your return for a certain level of risk. More and more people are starting to realize that you must consider the tax components of your investments, as it can have a big effect on what you are actually […]
The Psychology of Retirement: Navigating the Emotional Aspects of Life’s Next Chapter
Disney Pixar’s 2015 film, Inside Out, tells the story of the emotional conflicts of Riley, an eleven year old girl. Her dad gets a new job and moves the family from the upper Midwest to San Francisco, a move that upsets her entire world. Five emotions, Joy, Sadness, Fear, Disgust, and Anger all make their […]
