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The advantages of a Health Savings Account
Are you worried about medical costs in retirement; then it may be time to get a health savings account (HSA). “Health savings accounts have the most tax advantages of any account out there” Mychal Eagleson, president of An Exceptional Life…
Modernization of the 4% rule
In 1994, financial adviser William Bengen introduced the concept of the “4% rule”; it was developed to answer the question, “How much can I safely withdraw from my retirement savings each year and have my nest egg last for the…
Social Security Online Tools Innovation Act, H.R. 3309
The House Ways and Means Committee’s Subcommittee on Social Security and Tax Policy passed the “Social Security Online Tools Innovation Act,” H.R.3309, which requires the Social Security Administration to provide online tools to help individuals assess their disability benefits. Read…
Most common misconceptions about retirement
Retirement is certainly weighing heavily on the minds of the approximately 10,000 baby boomers turning 65 each day. However, there are several misconceptions that can prevent them from making the right decisions when it comes to retirement. In the attached…
Beware of scammers
The Acting Inspector General of Social Security has issued a warning about an ongoing phone scam from thieves pretending to be from the Social Security Administration. The scammers try to convince you to give up personal information, like Social Security…
Simplify your taxes in retirement
Once older Americans have left the workplace, you still need to pay income taxes. But now, instead of having a set amount of federal taxes withheld from your pay, you now have to write a check for estimated amounts to…
5 Facts You Might Not Know About Social Security
Most people know at least something about Social Security. For decades, Social Security has been providing valuable information and tools to help you build financial security. Here’s your opportunity to find out a little more, with some lesser-known facts about…
New proposal would remove safe-harbor protections for drug rebates
The Office of Management and Budget was sent a proposed regulation that would make changes to federal safe harbor protections that have allowed drug rebates. Although the details of the proposal weren’t available, the title of the proposal “Removal of…
How resources are used to elicit life satisfaction in retirement
A new study found retirees tend to spend less in retirement than while they were working, but do so without an apparent decrease in life satisfaction. It’s not necessarily the amount you spend in retirement, it’s what you spend it…
Retiring as a single person isn’t easy, here are a few things you ought to know
Regardless of your marital status, retirement is a milestone you need to plan for. If you’re single, retirement can pose certain financial challenges that don’t tend to impact couples the same way. So if you are retiring as a single…