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Medicare Advantage Open Enrollment Period is currently underway
The annual Medicare Advantage Open Enrollment Period is currently underway but ends March 31st. If you are unhappy with your current Medicare Advantage plan, you can either enroll in a new Advantage plan or drop your Advantage plan and return…
Student loan debt prompts postpone of retirement
According to the Consumer Financial Protection Bureau, from 2005 to 2015, the average amount of student loan debt for borrowers 60 and older doubled, causing many parents and grandparents to delay their retirement. Parent PLUS loans, also known as Direct…
What to know about combining retirement accounts with your spouse
We all know successful retirement planning for married couples involves a great deal of communication and setting mutual goals. But should you set up joint retirement accounts? Is there such a thing? No, but there’s something called “spousal IRAs,” which…
Could you be on track for a big Social Security benefit?
Nearly 70 million people in the U.S. receive Social Security benefits. But very few qualify for Social Security’s maximum monthly benefit. The maximum Social Security benefit in 2022 is $4,194; however, the average monthly benefit check many retirees will see…
Don’t make these mistakes with your retirement savings
Nobody wants to run out of money in their retirement, but making the wrong financial choices could affect your ability to retire comfortably. Even if you take steps to prepare for your retirement, you could be overlooking these four common…
Simple mistakes could have major consequences
Even if you start your retirement with sizable retirement savings, you could end up depleting your resources earlier than you thought. If this happens, it will leave you relying on your Social Security to cover your expenses for the rest…
Is retirement within reach for you
We all want to retire early, but we do not want to worry about money. Early retirement will require dedicated savings and investing and a good solid financial plan that will maximize the difference between your income and expenses. How…
How to live comfortably on Social Security alone.
According to the Social Security Administration, among elderly Social Security beneficiaries, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. The estimated average monthly benefits for all retired…
No 401(k), not a problem
What if you don’t have access to a 401(k)? Don’t worry; various alternatives can help you save for retirement. Those alternatives range from individual retirement accounts to health savings accounts and beyond. Patrick Villanova explains even if you don’t have…
Military retirement tax free
Military retirees living in five states will soon stop paying taxes on their military retirement. Military retirees residing in Indiana, Nebraska, and North Carolina will see the changes become effective with the 2022 tax year; retirees living in Arizona and…