seniors
Prepare to live in retirement for 40 years
Although life expectancy took a downward turn due to the COVID-19 pandemic, it is on the rise again, with the average life expectancy in the U.S. for 2025 at 79.40. With people living longer, your retirement and retirement savings will…
How much in savings will the new deductions provide?
When the “Big, Beautiful Bill” was signed into law on July 4th, it included a new senior tax deduction (temporary) aimed at those seniors who pay taxes on their Social Security. Because this bill was a reconciliation bill, it could…
What does Medicare-approved amount mean?
Do you know the difference between what your provider bills Medicare and the amount paid by Medicare? It is called the Medicare-approved amount. The Medicare-approved amount is the total payment that Medicare has agreed to pay a health care provider…
Should you have an emergency fund in retirement?
We have all heard from financial experts that we need an emergency fund equal to at least six months of our working salary, but what if you are retired? Life happens, things break, people get sick, and you find yourself…
Retirement planning mistakes to avoid
The fear of running out of money or being unable to afford necessary expenses in retirement can be overwhelming. If you have retirement anxiety, several coping mechanisms can help you not to feel so overwhelmed. The first and most important…
Estimated 2026 Part B premium
Most of us did not read the entire 267 pages of the 2025 Medicare Trustees report. If you did, you would already know that the Trustees are projecting the 2026 Part B premium to be $206.50, an 11.6 percent increase.…
Social Security Achieves Key Milestones in Customer Service Transformation
The Social Security Administration (SSA) announced significant progress in its ongoing efforts to improve customer service while handling record transaction volumes. Some key milestones include the completing over 3.1 million payments to all who were entitled under the Social Security…
Will you pay taxes on your Social Security benefits?
No wonder there has been so much confusion around the One Big Beautiful Bill and the elimination of taxes on Social Security benefits! The Social Security Administration published a press release saying, “A provision that eliminates federal income taxes on…
Americans underestimate the cost of long-term care
Medicare and most health insurance, including Medicare Supplement Insurance (Medigap), don’t pay for long-term care. This type of care (also called “custodial care” or “long-term services and support”) includes medical and non-medical care for people who have a chronic illness…
You can retire on less than $1 million
Not every soon-to-be retiree will have $1 million saved, but that does not mean you cannot retire. You will need to plan a reasonable monthly budget, maximize your Social Security benefits, and create a drawdown strategy. It sounds very daunting,…