Financial Planning

Year-End Financial Checklist

By |2023-12-07T09:17:49-05:00December 7th, 2023|Financial Planning|

It seems like we just rang in the new year and here we are almost at the end of 2023. My dad told me the older I got, the faster things would go, and he wasn’t wrong. So, with the time left before the end of the year, there are some financial matters you need to attend to before you [...]

Yep, Medicare is Going Up in 2024 Too

By |2023-11-06T13:26:03-05:00November 6th, 2023|Financial Planning, Retirement|

Well, it’s that time of year again when leaves change color and the federal government tells you how much more Medicare will cost you next year. The Bureau of Labor Statistics (BLS) says that 13% of spending by the typical senior goes to healthcare. For 2024, folks with Original Medicare will see increases to all premiums and deductibles.   Medicare [...]

2023 Standard Deduction and Tax Rate

By |2023-11-06T08:37:57-05:00November 6th, 2023|Financial Planning|

It won’t be long before you’ll be fussin’ and cussin’ again as you gather all the tax information needed to step back in the ring with the IRS on April 15th. The standard deduction and all tax brackets have been adjusted for the 2023 tax year. Here are the numbers that will be used to determine what you owe.   [...]

Retirement Account Contribution Limits for 2024

By |2023-11-02T12:24:03-04:00November 2nd, 2023|Financial Planning, Retirement|

You get to save more in your retirement accounts in 2024. The IRS has made its inflation calculations and announced the new adjusted contribution limits.   The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan increases to $23,000, up from $22,500 in 2023. For individuals 50 and older, the [...]

2024 Social Security Cost of Living Adjustment

By |2023-10-24T09:44:51-04:00October 24th, 2023|Financial Planning, Retirement|

There are two important days every year for people on Social Security—the day they find out how much their checks will go up because of the annual Cost-of-Living-Adjustment (COLA), and the day they start getting the extra money. October is the month they find out how much.   Automatic Social Security Cost-of-Living Adjustments have been in effect since January 1, [...]

The Happiest Workers are 65 and Older

By |2023-10-17T09:17:07-04:00October 17th, 2023|Financial Planning|

If you’re 65 years old and still working, you may be part of an elite group of American workers. Pew Research Center, in its latest jobs survey, found that employees aged 65 and older are the happiest employees in the workforce. The survey found: Two-thirds of those 65+ are extremely or very satisfied with their jobs, compared with: 55% of [...]

Yes, Retirees Can Get Audited Too

By |2023-10-12T07:52:17-04:00October 12th, 2023|Financial Planning, Retirement|

You’d think retirees would get some consideration from the IRS. I mean, they’ve worked their entire adult life, paid their taxes (well, most of them), and paid them no matter what administration was in office or what stupid rules an administration put on the books. Now they’re retired. But it doesn’t mean retirees are exempt from IRS audits.   The [...]

Medicare Open Enrollment 2023 is Here

By |2023-10-05T09:20:55-04:00October 5th, 2023|Financial Planning, Retirement|

It’s fall—leaves are changing color; college football is underway and… it’s time to see if you want to carry your current Medicare plan into 2024. The annual Medicare Open Enrollment period runs from October 15-December 7.   During the Medicare Annual Enrollment Period, you can make changes to your Medicare Advantage and Part D prescription drug plans. Multiple changes and [...]

Student Loans

By |2023-10-02T08:49:43-04:00October 2nd, 2023|Financial Planning|

Ah, the college experience! There’s a lot of growing up that happens in those four years—finding out who you are, learning to be even more independent, and for some, learning to do their own laundry. But one thing is certain. No matter when you go to school or where, it’s going to be expensive.   What drives the cost of [...]

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