Wouldn’t you think after giving a portion of your income to Uncle Sam for decades, you would be off the hook once you reach retirement? Unfortunately, that’s not the case. Uncle Sam is going to continue to knock on your door requesting retirement taxes well into your golden years. Fortunately, you can create a…
So, why do so many people find it difficult to live within their means? Maybe it’s because of the restrictive nature of the concept. But, it’s possible to break free of these financial restraints while achieving all of your financial goals. Here’s how. What it Means to “Live Within Your Means” Before we…
If you’re within 1-5 years of walking out the door after getting the last paycheck you’re ever going to get, then you’re probably a little curious about what the retirement planning process looks like, and have even given a little consideration as to whether this process would benefit you. With 10,000 Baby Boomers retiring…
If the Coronavirus global pandemic has taught us anything, it’s that you can never be too prepared for the unexpected. From severe illness to divorce to job loss, unwanted surprises can occur at any time, to anyone. Fortunately, there are steps you can take to prepare for a financial emergency before it occurs. To help…
The COVID-19 pandemic has substantially impacted many Americans’ careers. In fact, according to the recent Harvard National Report, since the beginning of the COVID-19 outbreak, 46% of U.S. households report many adult household members have lost their jobs, lost their businesses, been furloughed, or had wages or cut hours. Is COVID-19 impacting your career…
Financial experts often recommend including a Roth IRA in your retirement plans. Even if you don’t currently have a Roth IRA account, it’s not too late. You might still be able to capitalize on the benefits of this account using a Roth conversion. There are a few things you need to know, though, before…
As we inch closer to the end of the year, it’s crucial to make the right moves to minimize your tax burden regardless of the financial success, or lack thereof, you found in the past months. With this in mind, here are some year-end tax planning tips to help you save on next year’s…
Medicare Part A covers the cost of hospital visits and has a deductible. In 2020, that deductible is $1,408. Medicare Part B covers 80% of the cost of outpatient services, including doctor’s visits, and more. Part B has a deductible of $198 in 2020. Therefore, Medicare does not cover all a person’s medical expenses.…
Medigap, like Medicare, has several plan options. All plans have the same basic offerings, but some offer more comprehensive coverage than others. Read on to learn more about Medigap basics, what they cover, and how to choose the best policy for you. The Medigap Basics Medigap is supplemental insurance available to people who…
When someone needs to change their Medicare coverage, they must wait for an open enrollment period. During this time, they can join a new plan or change their current enrollment. If your needs have evolved and you need to change your Medicare coverage, here are seven things that you should know about Medicare fall…
