Financial Planning

2018 Social Security and Medicare Changes

By |2018-01-18T10:32:34+00:00January 18th, 2018|Financial Planning|

Every new year brings changes and for 2018 the Federal Government has made changes to Social Security and Medicare. Surprise, surprise! Some retirees get a raise. Some workers will see more come out of their checks for future benefits. And most Medicare recipients will pay more for health care. First, the good news. For the [...]

The Financial Checkup

By |2018-01-18T10:43:24+00:00December 22nd, 2017|Financial Planning, Taxes/Fiscal Policy|

When was the last time you - or you and your financial adviser - did a top to bottom review of your entire financial situation? For most people, the answer to that question is really easy - never. It is a daunting task to think about all the things that affect your finances. And sometimes [...]

The Healthcare Vampire

By |2018-01-18T10:38:04+00:00September 18th, 2017|Financial Planning|

Oh, for the old days when planning for retirement was simple and you knew what to expect, especially when it came to healthcare. There was Medicare. Add a good Medicare supplement to cover other costs and you were good to go. Those days are gone! For many retirees, healthcare has become Dracula and it’s sucking [...]

Medicare

By |2018-01-18T10:39:41+00:00July 27th, 2017|Financial Planning, Taxes/Fiscal Policy|

Medicare. The name is as recognizable as Kleenex®, KFC®, and Coca Cola®. But if asked what Medicare is, most people can only tell you it’s government health insurance for older people.  If you’re going to do serious retirement planning you need to know more than that. If you don’t, you could miss sign up deadlines [...]

Taxing Social Security

By |2018-01-18T10:40:15+00:00July 26th, 2017|Financial Planning, Taxes/Fiscal Policy|

Are my social security benefits taxable? That’s a frequent question when doing retirement planning. The simple answer is it depends on your income. But it wasn’t always that way. For almost 50 years, no one was taxed on Social Security benefits. Then, during a study of Social Security, a Senate Finance Committee Report said, “…by [...]

Social Security Changes

By |2018-01-18T10:41:14+00:00March 21st, 2016|Financial Planning, Taxes/Fiscal Policy|

By Bob Williams You’ve heard it said that the government giveth and the government taketh away.  It’s happening again.  This time retirement dollars for couples are being taken. With the passage of the Bipartisan Budget Act of 2015 Congress prohibited spouses from coordinating Social Security Benefits.  Now, Americans on the brink of retirement are scrambling [...]

Social Security Strategies

By |2018-01-18T10:41:32+00:00May 14th, 2013|Financial Planning, Taxes/Fiscal Policy|

Courtesy of Bob Williams: As discussed in preceding articles, there are many factors to consider in deciding when to begin taking social security.  For couples, there are additional considerations which make the decision a little more complicated but may help maximize benefits. File and Suspend Assume that John has reached his full retirement age (FRA) of [...]