Retirement

Assuming you and your job made it through the pandemic unscathed–or maybe only mildly touched–and you are now in your 60s or 70s, you might be starting to think about that life passage known as “retirement.” Retirement is more than an event; it’s a process. If you have been working steadily at a job, on

As the Federal Reserve has been increasing interest rates to combat inflation, there have been several obvious effects on the economy. New loan rates for the purchase of cars and home mortgages have gone up and, in many cases, have doubled from where they were just 18 months ago. On the other hand, interest rates

It is well understood by now that the pandemic had adverse effects on mental health, particularly for school aged children. But officials have noted that isolated elders suffered tremendously as well. Our elders are the most vulnerable to Covid, and had to stay away from those they love because of the risk of life-threatening infection.

As I am writing this on Wednesday morning, November 9, 2022, the midterm results are not all counted and which party has control of the Senate and House of Representatives has not been determined. But no matter who wins, Bidenomics won the midterms. Since Joe Biden was elected President, with no Republican support, the Democrats

You’ve got the time. You’ve got the desire. And you’ve got a few extra bucks to spend. Starting a business in retirement sounds like a piece of cake. Don’t be lulled into a false sense of security. There are many ways to trip yourself up. And the downside isn’t just a failed business; it’s a

You’re retired. You’re no longer on the clock. You get to sleep in, spend time savoring your food and do just about anything you want to do any time you want to do it. Ah, time. You suddenly have loads of it. You probably have something similar to a laundry list of things to do

The Medicare Open Enrollment Period is in full swing. From October 15 through December 7 every year, Medicare beneficiaries have the chance to review their drug and Medicare Advantage plans. During this time, they can also add or drop Part D prescription drug coverage or Medicare Advantage plans, and switch from Original Medicare to Medicare

Key takeaways Inflation has increased 0.4% in October, below forecasts of 0.6%. This brings the annual rate down to 7.7%, the lowest level seen since January this year. It’s hoped that this will mean the Fed is able to implement their plan of slower rate hikes, which would take some of the immediate pressure off

Russ was a self-made multi millionaire who had invested carefully and done well. He lived in a comfortable, large home and had anything he needed. His wife passed after a long marriage. Throughout her life he had been particularly generous with his daughter. He had spoiled and supported Kris, as she didn’t care to hold

Why So Many Taxpayers have SLATs Lots of taxpayers have set up irrevocable trusts in recent years to use exemption (that is the amount you can give away without an estate or gift tax). In 2020 and 2021, the harsh Democratic estate tax proposals were the catalyst for a tidal wave of this type of

Share to Facebook Share to Twitter Share to Linkedin Despite a brutal year for the U.S. stock market so far, billionaire money manager Ron Baron and his many retiree investors were undeterred as they gathered for the Baron Investment Conference last Friday. With nearly 5,000 investors and members of the media crowding into the Metropolitan

A recent Senate committee report elevated concerns about deceptive marketing tactics in Medicare Advantage plans. While the number of beneficiaries more than doubled in the last 15 years, the amount of marketing complaints also doubled—in just one year. Medicare Advantage members don’t need Congress to tell them about these problems. They have their own experiences

Inflation is bringing some good news to retirement savers. At least for those looking to maximize their contributions to retirement accounts like a 401(k), traditional IRA, or 403(b). For those looking to pay fewer taxes in 2023, the increase in the maximum retirement contributions for 2023 will allow you to shelter more of your income

The richest Americans are accumulating more wealth than at any time in history and are expected to pass trillions of dollars onto younger heirs, says Vincent Lumia, head of field management at Morgan Stanley Wealth Management. MS . “The pie is going to get bigger and the amount of money that is changing hands is

It’s just sitting there, growing slowly over the years, beckoning you. Do you have the discipline to shun this siren? Or has life thrown you a curve ball and left you no choice? “Taking a loan out of your 401(k) plan usually shouldn’t be viewed as the first option for financing; however, for some people,

It’s remarkable that Social Security is not the front and center issue in the midterm elections. Key Republicans say they will cut Social Security and Medicare if their party gains power. Some Republicans are considering raising the full retirement age to age 70. These long-promised Republican policies threaten millions of older Americans, and all those

On August 16, 2022, the Inflation Reduction Act (IRA) was signed into law. One provision that raised revenue (taxes) is a 15% Corporate Alternative Minimum Tax (CAMT) on corporations with average book income of $1 billion or more over the last three years. As an Alternative Minimum Tax (AMT), corporations subject to the tax will

As a small business owner, you may find yourself in an extremely unique situation to maximize Roth savings. This is especially true if you are an owner only business. Retirement plans fully covered under the Employee Retirement Income Security Act have additional complexities that a third-party administrator (TPA) can help you manage. The table below

In response to the recent burst of inflation, the IRS is raising contribution limits for the full range of retirement savings accounts. That’s great news. If you make a lot of money. But it won’t make the slightest difference to the vast majority of working-age Americans, who contribute far less than the existing limits, or

The White House announced yesterday that the United States is not in a recession now. Low unemployment numbers like those in today’s employment report show a strong economy — 261,000 jobs were added, tens of thousands more than expected. Expectations were high after Tuesday’s Job Openings and Labor Turnover Survey (JOLTS) data showed demand for