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Retirement plans and special needs trusts is a complicated one
Retirement plans often make up a significant portion of assets for retirees. Parents of children with special needs, or of individuals who have become disabled as adults, question whether their retirement plan can be put into a special needs trust.…
$86 billion to help troubled pension plans
Not only will the $1.9 trillion American Rescue Plan issuing stimulus checks to most Americans, give aid to states and local governments, and expands unemployment benefits; the bill includes $86 billion to help troubled retirement plans. Currently, there are about…
How an HSA can help you save for expenses now and in retirement
A recent survey by the HSA Bank Health & Wealth Index found “83 percent of consumers over 65 worried about current or future medical bills and of those consumers, more than a third reported they rarely save money for future…
How to live like you’re retired, even when you’re not
The financial industry and society as a whole have an image of what retirement is; total control over your time to do whatever you want. But why do we wait until then, why not now? Jacob Schroeder, Manager of Investor…
You can still switch your Medicare Advantage plan
If you discovered your Medicare Advantage plan is not a good fit, you have until the end of March to either drop your plan and return to basic Medicare or switch to another Advantage plan. If you choose to switch…
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…