2023 Means Savings on Medicare
Medicare beneficiaries will pay lower Part B premiums for coverage come 2023. Those who are paying these premiums need to be aware of two major changes. For this upcoming year, the premium for Part B will decrease by 3% to $164.90. The annual deductible will also decrease from $233
Elder Abuse and Financial Exploitation: What Are They?
Unfortunately, financial abuse and exploitation is a reality many seniors face in their retirement. Strikingly, financial institutions have reported the number of these incidents tripling since 2017. And no matter how big or small the deception may be, it leaves elders financially and even emotionally devastated. The question remains:
How to Cover Long-Term Care Expenses
Does planning for long-term care seem sensible for your retirement? The answer: Many will not plan for an LTC until it is too late. Where do you start? Paying for Long-Term Care in Retirement Each option has advantages and risks and knowing these will let you determine what your
What Exactly is a LIRP?
Much like a game of chess, retirement planning is about strategy. Back in the 1970s the traditional route was relying on Social Security and having a pension. Today retirement is entirely on the individual to fund—and Social Security only should be about 40% of what you need. And among
How Should I Take My RMDs in Retirement?
Using tax-advantaged retirement accounts to save during your working years is a smart move. By using these accounts, you are deferring taxes. However, this postponement does eventually come with an expiration date. The government will come looking for its share. This bill comes in the form of calculated required
Do Not Forget Healthcare Costs When Retirement Planning
How are you to account for health care costs while retirement planning? Oftentimes, these expenses are underestimated. Even though Medicare Part A is free and covers hospitalization, the remainder of Medicare comes with premiums and the rest of health care and drug costs are out-of-pocket even with supplemental insurance.