Category: Retirement

If you’re approaching retirement or already retired, you may have a traditional IRA, SIMPLE IRA, or SEP.   If you do, at a specific age you must take a minimum distribution.  This minimum distribution is required by the government when you reach the age of 70 ½.  It is not only done one time but […]

It’s that time of year again for Medicare’s Open Enrollment!  Are you ready?  If you are new to Medicare then it’s important to know that Open Enrollment occurring in the Fall is only designated for changes to be made to current coverage.  These changes include: • Changing from regular Medicare coverage to Medicare Advantage regardless […]

The possibility of being targeted for a scam or a malicious scheme is well-known, and you may be aware of some of the more common or outdated scams. Today’s criminals, however, are increasingly devious. They know that many people are onto their efforts, so they can go to great lengths to trick consumers like you […]

If you are approaching the age of 65 or already an eligible beneficiary, open enrollment for 2020 Medicare health benefits starts soon. For new enrollees over 65 or turning 65 and don’t have medicare, you can sign up from October 15th to December 7th of this year. Existing enrollees will receive information including a notice […]

September is Life Insurance Awareness Month which gives us a reason to talk about a subject that some try to avoid.  Life insurance can conjure up dark images.  Many people are jarred into realizing the importance of buying life insurance after a close friend or family member has passed away or even after hearing a […]

When it comes to retirement savings, one of the best options available to those who don’t have a workplace retirement plan is an IRA. These savings vehicles allow for future retirees to save up to $6,000 per year in a tax-advantaged manner as of 2019. Those who have reached age 50 can add another $1,000 […]

President Donald Trump signed an executive order Friday, August 31, that proposes asking for reviews on changing certain rules for tax-deferred retirement savings such as 401(k)s and individual retirement accounts, or IRAs. Trump signed the order during a scheduled visit to Charlotte, N.C., and asked the Treasury Department to push forward several bipartisan changes to how retirement […]

The average individual can spend less during their retirement due to a budget. One exception can be giving to charitable causes. A study by the WPI or the Women’s Philanthropy Institute looked at the way households in America spent money as they retired. The study revealed both single women and married couples maintained the same […]

The way we work and save for retirement has changed and the old rules no longer apply to every individual’s situation. There are many professionals with the resources to retire early, but continue working until retirement age just to avoid paying penalties to the IRS. However, there are ways to retire early that you might […]

In retirement it’s not always about the money you have, it’s about how much you are spending.  As you prepare or revise your retirement plan, one of the most important steps that you can take is to ensure that your projected future budget is accurate. Any oversights or poor estimations can unfortunately lead to financial […]