Medicare Costs Are Increasing in 2024
Nov 13, 2023
Premiums, deductibles, and coinsurance amounts for Original Medicare generally change every year. Here’s a look at some of the costs that will apply in 2024.
Tags: financial advisor charlotte nc, Financial Planning, Health Care Needs, Health Care Savings
Healthcare in Retirement?
Oct 25, 2023
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and routine checkups. There’s also a chance that your health will decline as you grow older, increasing your need for costly prescription drugs or medical treatments. That’s why having health insurance is extremely important.Tags: a, Health Care Needs
October is Breast Cancer Awareness Month
Oct 4, 2023
October brings to mind the beauty of the leaves changing colors and a time to enjoy the colder weather. But October also holds another meaning for millions of people: it’s Breast Cancer Awareness Month. (more…)
Tags: Current Events, Health Care Needs
Cost of Medical Care
Aug 23, 2023
When uninsured people end up in the hospital, “sticker shock” can follow. Just a quick look at the current prices for medical care procedures can be sobering.
How much does a CT scan cost? Between $250 to $1,500, depending on where it is performed. Need a stent in your heart? The average cost of that delicate procedure is now close to $20,000. How about a knee replacement? That surgery may run anywhere from $15,000 to $35,000.1,2 (more…)
Tags: Health Care Needs, Health Care Savings, Personal Finance
Healthcare Costs are Cutting into Retirement Preparations
Mar 22, 2023
You may have seen this statistic before or one resembling it: the average 65-year-old retiring couple can now expect to pay more than $250,000 in healthcare costs during the rest of their lives.
In fact, Fidelity now projects this cost at $285,000. The effort to prepare for these potential expenses is changing the big picture of retirement planning.
Tags: Employee Benefit Planning, Health Care Needs, Health Care Savings, retirement, Retirement Planning
What is Critical Illness Insurance
Sep 7, 2022
Ever hear of critical illness insurance? This isn’t standard-issue disability insurance, but a cousin of sorts. With people living longer, it is a risk management option entering more people’s lives. (more…)
Tags: Health Care Needs, Insurance, Long-Term Care Planning
Understanding Extended Care
Mar 23, 2022
Addressing the potential threat of extended care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy.
The Administration for Community Living estimates that by 2060, 94.7 million Americans will be aged 65 and older. Of those, it’s estimated that someone who just turned 65 has an almost 70% chance of needing some type of extended care.1,2 (more…)
Tags: Health Care Needs, Health Care Savings, Long-Term Care Planning, Medicare
The Under Utilized Benefits of a Health Savings Account
Sep 22, 2021
Healthcare can be one of the priciest yet essential parts of life’s journey. And yet, many struggle to utilize the financial tools that may help. Take Health Saving Account (HSAs), for example. (more…)
Tags: financial advisor charlotte nc, Health Care Needs, Health Care Savings
Ways to Fund A Special Needs Trust
Jul 7, 2021
If you have a child with special needs, a special needs trust may be a financial priority. There are many crucial goods and services that Medicaid and Supplemental Security Income might not pay for, and a special needs trust may be used to address those financial challenges. Most importantly, a special needs trust may help provide for your disabled child in case you’re no longer able to care for them. (more…)
Tags: financial advisor charlotte nc, Health Care Needs, Health Care Savings, Insurance, Investing, Investment Planning, Legacy, Long-Term Care Planning, Wealth Building
Managing Drug Costs
Nov 27, 2020
Are prescription drug costs burdening your finances? Some people find it a challenge to manage the cost of prescription drugs. Americans pay an average of $1,200 per year for medicine. For those facing greater and more dangerous ailments, some drug costs are $10,000 per month or even lump sums in excess of $80,000 for certain drug therapies. Yes, health insurance and Medicare Part D can help you, but not everyone has access to Medicare, and not every insurance company has the same formulary. This means that your coverage may fall short—not something you want to hear when wrestling with a major diagnosis.1 (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Family Wealth, financial advisor, Health Care Needs, Health Care Savings, Medicare, Personal Finance, Spending Habits
More Insights
Apr 26, 2024
It seems like we just can’t stop talking about the Federal Reserve (Fed). After an aggressive rate hiking campaign that we think ended last year, markets were expecting the Fed to start cutting interest rates as early as next month. But withan economy that continues to surprise to the upside, along with inflationary pressures that … Continue reading “Market Update – The Patient Pause”
Apr 24, 2024
A thoughtful retirement strategy may help you pursue your many retirement goals. That strategy must consider many factors, and here are just a few: your income needs, the order of your withdrawals from taxable and tax-advantaged retirement accounts, the income tax implications of those withdrawals, and sequence of return risk.
Apr 22, 2024
Losing a spouse is a stressful transition. And the added pressure of having to settle the estate and organize finances can be overwhelming. Fortunately, there are steps you can take to make dealing with these matters less difficult.
Apr 19, 2024
Ever hear of critical illness insurance? This isn’t standard-issue disability insurance, but a cousin of sorts. With people living longer, it is a risk management option entering more people’s lives.
Apr 17, 2024
Following Iran’s missile and drone strikes on Israel over the weekend and the apparent escalation likely in any Israeli response, stocks fell sharply during Monday’s trading session. We examine the latest developments in the Middle East conflict, how stocks have reacted historically to geopolitical events, and the possible impact on markets moving forward.
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