Medicare’s open enrollment period runs through December 7th. If you are enrolling in Medicare for the first time, you will discover that it is much more complex than an employer-sponsored group health plan.
When you are enrolled in Medicare, you pay multiple premiums for multiple types of coverage (Parts A and B as well as the Part D prescription drug plan), and unlike a group health plan, there are no caps on out-of-pocket costs and a risk that you might have to pay a hospital insurance deductible more than once per year. Original Medicare also does not cover some costs that many seniors would like to cover, such as dental and vision care expenses. (more…)
“Audit” is a word that can strike fear into the hearts of taxpayers.
However, the chances of an Internal Revenue Service audit aren’t that high. In 2017, the most recent statistics available, show the I.R.S. audited 0.5% of all individual tax returns.
Being audited does not necessarily imply that the I.R.S. suspects wrongdoing. The I.R.S. says that an audit is just a formal review of a tax return to ensure information is being reported according to current tax law and to verify that the information itself is accurate. (more…)
Trust deeds may seem to be a fairly straightforward form of financial investment. You may have heard of them in passing without being certain exactly what they are. It’s also referred to as a private trust deed.
What are they? At the core, these private trust deeds are sort of like mortgages that are used by real estate investors to borrow money to purchase property or finance buildings. The “sort of” part comes from the fact that these private trust deeds are not exactly like the mortgage a homeowner might take from a bank or other mortgage lender to buy a house. (more…)
Marriage changes everything, including insurance needs. Newly married couples should consider a comprehensive review of their current, individual insurance coverage to determine if any changes are in order as well as consider new insurance coverage appropriate to their new life stage.
The good news is that married drivers may be eligible for lower rates than single drivers. Since most couples come into their marriage with two separate auto policies, you should review your existing policies and contact your respective insurance companies to obtain competitive quotes on a new, combined policy. (more…)
With the children now out of the house, financial priorities become more focused on preparing for retirement. At this stage, you may very likely be at the height of your earning power and fast approaching peak savings as you lay the groundwork for retirement. During this final leg to retirement – and throughout your retirement period – wealth protection is critical.
The preservation of your assets will not be solely a function of your investment strategy, but will include a comprehensive insurance approach to protect you against an array of financial risks, most especially health care. (more…)
“What is your greatest retirement fear?” If you ask any group of retirees and pre-retireesthis question, “outliving my money” will likely be one of the top answers. In fact, 51% of investors surveyed for a 2019 AIG retirement study ranked outliving their money as their top anxiety.
Retirees face greater “longevity risk” today. The Census Bureau says that Americans typically retire around age 63. Social Security projects that today’s 63-year-olds will live into their mid-eighties, on average. This is a mean life expectancy, so while some of these seniors may pass away earlier, others may live past 90 or 100. (more…)
As a consumer, when you purchase an expensive item, like a car or refrigerator, you expect to receive a warranty that the manufacturer will repair or replace that product if it breaks down.
A warranty makes sense for big-ticket purchases, but what about for a home? (more…)
Cybercrime affects both large corporations and private individuals. You’ve likely read about the large data breaches in the business world. These crimes are both expensive and on the rise. The U.S. Identity Theft Resource Center says that these corporate data breaches reached a peak of 1,632 in 2017. The response to the growing need for data protection has been swift and powerful; venture capitalists have invested $5.3 billion into cybersecurity firms.
That’s good news for the big companies, but what about for the individual at home? What can you do to protect data breaches to your personal accounts? (more…)
The year 1995 was an exciting one. Michael Jordan came back from retirement, digital video disks (DVDs) were invented, Netscape went public after introducing the world to the internet via its web browser, and Coolio’s “Gangsta’s Paradise” was the song of the year. It was also an exciting year for investors.
You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for your retirement and your child or grandchild’s education at the same time can be a challenge. But take heart — you may be able … Continue reading “Saving for College and Retirement Together”
As spring approaches, the weather is starting to warm up. For the stock market, the temperature has been rising for a while now. In fact, since December 2023, the S&P 500 has not experienced a pullback of even 2%. Strong starts to years tend to signal more gains ahead, so this calm market may not … Continue reading “Market Update – Markets Warming Up”
Identity theft is a growing concern, impacting 14.4 million U.S. Consumers in 2019. Armed with your Social Security number, a criminal can use that information to commit tax- and other financial-related crimes in your name.
There is almost nothing stronger than the unconditional loving bond between grandparents and grandchildren. And for many grandparents, they recognize the importance of family legacies, the passing of the torch to the youngest generation.
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