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Time is running out to switch or ditch
Time is running out if you want to change your Medicare Advantage plan or switch back to original Medicare. You have to March 31st to return to original Medicare or found you don’t like your Medicare Advantage plan now is…
Downsizing it’s not as easy as you think
We all have heard that we should downsize for retirement; it will save us money. But does it? Yes, it can save you money, but it’s not as easy as you think. In Tom Sightings’ column for U.S. News, he…
Mortgage debt can hurt you when you’re older
A large number of American seniors are struggling to shake their mortgage debt. According to the COUNTRY Financial, 33 percent of Americans are still paying off mortgages into retirement age. If you are nearing retirement and still paying a mortgage…
Is the “Retirement Savings Gap” real?
In Andrew Biggs’ column for Forbes, he questions the National Institute for Retirement Security’s (NIRS) study finding that America faces a $14 trillion “retirement savings gap” with a staggering 92 percent of working-age households falling short of their retirement savings…
Dental coverage and costs for Medicare beneficiaries
Medicare which covers about 60 million older adults and beneficiaries with disabilities does not cover routine dental care. Nearly 37 million people or almost two-thirds of Medicare beneficiaries do not have dental coverage and 49 percent of all Medicare beneficiaries…
What can be done to help American workers build a financially secure retirement
Majority of Americans who save for retirement do so through a plan provided by their employer; however, only about half of private sector businesses offer retirement benefits. People without a workplace-based plan could still save for retirement on their own;…
Are you using your tax return to save for retirement?
According to GoBankingRates, roughly seven percent of Americans plan to use this year’s tax return to save for retirement. The older millennials between 35 and 44, and for soon-to-be retirees, aged 55 to 64, that figure rises to 10 percent.…
Is there a “magic formula for retirement income security”
It seems that some people make the mistake of basing their retirement on a magic number. Yes, it makes sense when you’re in your 30s, 40s, and even early 50s but retirement planning becomes much more complicated when you reach…
The current budget proposal calls for allowing Medicare beneficiaries to make contributions to HSA
In President Donald Trump’s 2020 proposed budget, it would allow Medicare beneficiaries to contribute to health savings account. This is a change from the current law which people enrolled in Medicare cannot fund an HSA. Although it is uncertain whether…
Do you know exactly what your retirement goal is?
According to a 2018 study by Northwestern Mutual, 70 percent of Americans feel they have inadequate retirement plans. They don’t know how much money they’ll need, causing more dread when they retire instead of gleeful anticipation. Why? Read the attached…