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Twenty of the most common retirement terms
Is unfamiliar financial jargon putting you off from saving for retirement? Do you know the difference between all the Roth plans? And yes, there are a few different ones. In Kat Tretina’s article for Forbes, she explains 20 of the…
Could the annual COLA increase be 3 percent in 2022?
The Kiplinger Letter is predicting that Social Security benefits should rise around three percent next January. Why? Kiplinger states “a range of prices that had been depressed by the pandemic last year are rebounding .” They cite gasoline prices have…
Scammers are working overtime to steal your money
Crooks are working overtime to steal your money, they are not quitting. The latest scam comes in through a robocall saying your Social Security number has been suspended or frozen or has been attached to a criminal warrant in another…
Medicare Part D prescription drug coverage can cause confusion
Medicare can be confusing with its terminology of deductibles, copays, and coinsurance, and no wonder people find themselves under financial stress. Then there is Medicare Part D prescription drug coverage; not only does it have deductibles, copays, and coinsurance now…
The pandemic was a silver lining for retirement planning
The COVID-19 global pandemic has caused financial stress for many. Nearly 49 percent of respondents to Allianz Life’s 2021 Retirement Risk Readiness Study said they cannot even think about saving for retirement now because they are just trying to get…
Highly compensated employees may not be able to contribute the maximum amounts to their 401(k)
For those individuals making more than $130,000 a year that raise you got might complicate saving for retirement. If you are a highly compensated employee (HCE), your maximum contribution limits to a tax-deferred retirement plan are tied to the participation…
How to use home equity for retirement
Two-thirds of the median net worth for householders at least 65 years old comes from their home equity according to the U.S. Census. Home equity is a big part of your net worth, so using some of it to boost…
Should you sign up for Medicare at 65?
Today, more than 20 percent of people continue to work past 65, even if you already have health insurance through your job, you need to be sure to consider how Medicare may factor into your plans. So when should you…
One big advantage of delaying Social Security
We do not know how long we will live. You may think you will live to be 100 or only live to 78.7 (life expectancy per CDC) but no matter what the number is you need to plan for your…
Social Security and Taxes
The Social Security program and its rules are complex and confusing at times with more than 2,700 rules governing the program. One area that is partially confusing and overlooked by many people is the taxation of Social Security benefits. In…