Retirement

For decades, the desperate need for government to help support middle-income frail older adults, younger people with disabilities, and their family members has been clear. Until now, lawmakers largely have done nothing about it. But that finally may be changing. Vice President Kamala Harris, the Democratic nominee for President, has proposed an ambitious expansion of

Most economists who had to describe healthy, stable growth would end up largely describing today’s GDP numbers. The economy expanded at an annual inflation-adjusted rate of 2.8% in the third quarter of 2024, after expanding at 3.0% in the previous quarter. Outside of volatile inventory build ups, economic growth actually accelerated. Income growth from continued

The IRS is filling gaps, fixing glitches and answering questions about the SECURE Act and SECURE Act 2.0, and about required minimum distributions (RMDs) in general. Most of the discussions about the laws focus on the end of the Stretch IRA, the 10-year rule, and related issues. But a lot more ground is covered in

Most people at or near retirement age will say they want to remain at home as long as possible. That means not going to a care home of any kind “with all those old people”. It sounds fine when one is 65 or so and in reasonably good health. But of course, aging takes its

Sit down to begin working on your retirement plans, and you’ll quickly realize that there are a number of decisions to be made. While tactical steps like whether to do a Roth conversion or the proper age to begin taking Social Security tend to steal the limelight, one of the best places to start your

Given recent trends in longevity, there’s a good chance you could be retired for 20 to 30 years, which might mean you’ll be retired for a third of your life—or more! You’ll want to plan ahead and take steps to help yourself be financially secure, healthy, and happy for the rest of your life. This

The upcoming election is only days away, and the two presidential candidates remain in a statistical dead heat. Control of the U.S. Congress seems likely to be narrow as well, with either party having a chance to win control. Clearly, the electorate is deeply divided, and it is increasingly rare to find issues that transcend

They’re not right for every family, but there are times when a silent trust is a good idea. A silent trust is one that isn’t revealed to the beneficiary by either the trustee or trust grantor (or creator). The trustee manages the assets and usually doesn’t make distributions to the beneficiary. After a period of

As you approach retirement, it’s important to develop a retirement income strategy. Developing tax-efficient retirement withdrawal strategies to plan your income stream should be an annual process. Each year your taxable income will change, and potentially your living expenses. The tax code has also changed repeatedly in the last 10 years, so it’s important to

Subsidizing home care for aging adults has been discussed in decades past. Now it is part of the political discussion once again. Can it ever be achieved? Consider the obstacles and possible benefits. History In the 1970’s, less than ten years after Medicare became the law of the land in 1965, public health officials recognized

As the 2024 election approaches, candidate Vice President Harris and Former – President Trump promise to protect Social Security, but only Donald Trump has specific proposals. And Trump’s plan would cut Social Security benefits by 33 percent and drive Social Security to insolvency by 2031. The proposals would benefit high income individuals and drain $2.3

Medicare’s open enrollment period started on October 15 and runs through December 7 this year. That means you can now comparison-shop your Medicare coverage, which can include Part D prescription drug plans, Medicare Advantage Plans, or Medicare Supplement Plans. For retirees participating in Medicare, it’s a good idea to revisit your Part D Prescription Drug

There aren’t many absolutes in financial planning. There are, however, many—MANY—opinions. Advisors, personal finance gurus, and online opine-ers regularly die on the hills of passive vs. active investing, ETFs vs. mutual funds vs. individual stocks, traditional vs. alternative investing, good debt vs. bad debt, term vs. permanent life insurance, traditional vs. Roth IRAs, the roles

Many pre-retirees and retirees make serious mistakes regarding their retirement income and spending for living expenses. This is very understandable, since building sources of lifetime retirement income can be complicated and beyond someone’s skill set. Preparing retirement budgets can also be time consuming and frustrating. As a result, either you might spend too much, which

Estimated tax requirements are a frequent problem for retirees, with many incurring penalties for underpaying their estimated taxes. Fortunately, there’s a little-known strategy that can help avoid penalties when a retiree realizes late in the year that estimated tax payments have been too low. Income taxes have to be prepaid during the year. If they

Since January 1, 2023, there has been a cap on insulin for Medicare beneficiaries. The cap applies to those who have Part D prescription drug coverage, whether through a stand-alone plan or as part of a Medicare Advantage plan. (The cap also applies to insulin administered via a pump under Part B, medical insurance.) P

By Bev O’Shea, Next Avenue Susan Nilson was hiking in the Santa Monica Mountains near Los Angeles with her pit bull-Labrador rescue dog, Maggie, when a rattlesnake bit her pet in the face. A frightening few hours followed, as Maggie was transferred from Nilson’s regular veterinarian to a specialty animal hospital, where she required four

The Medicare Prescription Payment Plan (MPPP, M3P or MP3) will take effect January 1, 2025. It will allow those who have Part D prescription drug coverage to spread the costs out over the year, instead of paying all at once. As with anything that is brand-new, this plan can be confusing. Because drug plan enrollees

Vice President Kamala Harris said she wants to create a home-based long-term care benefit under Medicare. She’s suggesting an historic change in the health care system for older adults and some younger people with disabilities. But the Democratic presidential candidate’s idea raises important political and policy questions. Harris describes the broad outlines of her plan

As expected, the start of Medicare Open Enrollment Period revealed major changes in the availability of plans and pricing. The biggest changes are in Medicare Advantage plans and Part D prescription drug plans. We knew significant changes were on the way because of announcements from major insurers and policy changes from the Centers for Medicare