If you’re approaching retirement or have recently retired, it’s only natural that you’re looking forward to your newfound freedom. You might be planning to travel, pursuing your hobbies and interests, and reconnecting with relatives and friends. Welcome to the “go-go” phase of retirement when you’re still active and vital and you have the energy to
Retirement
Most of us recognize that legal means exist to assume control over an aging parent’s finances when their health declines. We use a legal document called a Durable Power of Attorney for that, so the aging parent will appoint someone to manage money if they become impaired. But that can quickly become a problem. One
It is not surprising that we find mental illness across all age ranges. Being over 65 is no exception. Some adult children would probably say that things seem to get worse as their parent gets past retirement age. What we hear most often at AgingParents.com, where we consult with families of these elders, is that
Donald Trump’s return to the White House, coupled with Republican control of the Senate and possibly of the House, could result in a far more limited government role in the care of frail older adults and younger people with disabilities. Most immediately, Trump’s proposed mass deportations would make the current shortage of care workers much
On November 8, the Centers for Medicare and Medicaid Services announced the Medicare premiums and costs for 2025. Let’s take a quick look at what you need to know. Part B Premium and Deductible The 2025 premium for Part B, medical insurance, will be $185, an increase of $10.30 (5.9%). CMS attributes the increase to
“We have absolutely no control over what happens to us in life, but what we have paramount control over is how to respond to those events,” said Viktor Frankl, the renowned psychologist, while imprisoned in a German concentration camp. The context of that statement gives it so much more power, doesn’t it? Compare his context,
Share to Facebook Share to Twitter Share to Linkedin According to the U.S. Census Bureau, over 31 million Americans claim Irish ancestry. They make up a large proportion of the growing number of U.S. citizens contemplating a move to the Emerald Isle. The American dream of Ireland conjures images of thatched-roofed cottages, low stone walls,
President Trump’s Victory Means Estate Planning Changes, Not That it Should Be Ignored With President Trump’s victory, and Republican control of the Senate and it appears likely the House too, it is unlikely that harsher estate taxes will be imposed on the wealthy in the next four years. Does that mean everyone can forget estate
Author weighs the pros and cons of dropping that portion of his car insurance. My wife and I had the misfortune of being in western North Carolina at the same time as Hurricane Milton. The devastation there was overwhelming and we were lucky that we escaped with nary a problem — except that our car
The annual Open Enrollment Period ends December 7, just 30 days from now. Traditionally, fewer than 30% of drug plan enrollees pay attention to how their coverage will change in the new year. They’re happy with the plan and it’s just too much hassle. However, this year is not just any ordinary year. The Inflation
Voters in Washington State have decided to keep the state’s first-in-the-nation public long term care insurance program. On Tuesday, they easily rejected a ballot initiative that would have killed the far-reaching law. The WA Cares law provides up to $36,500 in long-term care insurance benefits, with the amount increasing with inflation. It is funded with
Semi-retirement has significant advantages for your financial security, health, and enjoyment of life. It’s a powerful strategy to consider as you approach your retirement years, or even if you’ve recently retired. Let’s take a look. What Is Semi-Retirement? Semi-retirement is when you transition from full-time paid work to part-time paid work instead of retiring completely
In an ideal world, I believe it takes about five years to prepare for retirement – what’s next in life. One of my top ten tips for preparing for retirement is to use your time while you are still working wisely. Seek out role models, make connections, and explore options while you have a pay
Scott was eager. He even had numbers written on his truck’s visor that no one, not even his wife, knew what they meant. It was his retirement date. He saved, planned, and dutifully attended all his company’s retirement readiness seminars. Scott was in the zone; he could finally retire financially secure. A Friday, 30 years
Blended Families May Be At Greater Risk For Family Disputes Sometimes money and the need to care for aging parents can bring out the worst in people. This can happen in blended families with aging parents. When the adult children are faced with issues over their aging parent in common, some siblings feel entitled to
The author and his wife have enlisted the help of a free consultant to guide them until Medicare’s December 7th deadline. My wife and I have been covered by traditional Medicare since we each turned 65. In addition, we have had a secondary insurance plan that was heavily subsidized by my wife’s former employer. Similar
The IRS has announced that the amount of tax-favored funds that you can sock away for retirement is increasing. In 2025, the amount individuals can contribute to their 401(k) plans will tick up to $23,500—it was $23,000 for 2024. The announcement is tied to cost‑of‑living adjustments for pension plans and other retirement-related items for tax
The Centers for Medicare and Medicaid Services is notifying almost 950,000 Medicare beneficiaries that their personally identifiable information was compromised in late May 2023. In a press release, CMS reported details of the situation. Here’s a Readers Digest summary. In May 2023, Wisconsin Physicians Service identified a vulnerability in its system for transferring files. WPS
In the famous 2022 Supreme Court Case of Dobbs v. Jackson Women’s Health Organization that overturned the national law that an abortion was a private matter between a woman and doctor, the petitioners insisted that there is “no causal link between the availability of abortion and the capacity of women to act in society.” In
2025 Medicare Changes Every year there are changes to Medicare Advantage Plans and Social Security. Most years the changes are not dramatic. But this year the change in your Medicare Advantage plan may be dramatic. If you have a Medicare Advantage Plan, do not assume that your plan will remain the same for 2025. Because
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