By Elaine Floyd, CFP ® Scenario planning shouldn’t stop at retirement. It’s unpleasant, but necessary, to imagine what your situation might look like after the death or incapacitation of a partner. An early dose of reality can help you build a financial foundation. Two weeks ago, my neighbor died unexpectedly at the age of 76. Three …
Using Expectancy Scenarios in Financial Planning Read More »
By Elaine Floyd, CFP ® The usual method for estimating spending needs in retirement is to take your post-retirement household budget and tack on an inflation rate, such as 2%. Not so for health expenses. Some expenses increase at a faster rate than the inflation rate you use, others at a slower rate, but overall, expenses …
By Elaine Floyd, CFP ® The most accurate and reliable way to determine your spending needs in retirement is to sit down and make up a budget projecting costs in the areas of housing, utilities, food, transportation, leisure activities and so on. Depending on how your life will change (or not) after retirement, you can base …
By Charles Sherry, MSC Here is what you need to know to navigate the 3.8% surtax on unearned investment income and the 0.9% additional tax on wages. The Affordable Care Act (ACA) was designed to make health insurance more affordable, expand coverage, expand Medicaid, and help lower the overall cost of health care. The law …
By Elaine Floyd, CFP ® It’s not true what they say about aging and the brain. Good thing, too. Now that you likely will live (and work) longer than previous generations, it’s imperative that you understand how to maintain and improve your most valuable asset. Exciting research going on in the field of neuroscience is finding …
By Elaine Floyd, CFP ® If you’ve been covered by a generous employer group health plan, you may be in for a rude awakening when you retire. Here are some tricks for keeping health care costs under control after you retire. Although the government may subsidize some of your health care costs under the Medicare program, …
How to Keep Health Care Costs Under Control in Retirement Read More »
By Elaine Floyd, CFP ® For the past four decades, age 65 marked the time when you would leave your job, start your pension, file for Social Security, and enroll in Medicare. Not anymore. Since then, the retirement landscape has changed. Full retirement age for Social Security is 66 or 67. The traditional corporate pension has …
Do You Need to Sign Up for Medicare at 65 if You’re Still Working? Read More »
Medicare and health insurance open enrollment starts on October 15th. To help you find the best coverage for your money, here’s a step-by-step checklist of health care items to review annually. Each fall, it’s important to review your health care needs and consider your available insurance options for the coming year. A recent survey found …
Health Care Checklist for Finding the Best Coverage Read More »
Here is what you need to know to navigate the 3.8% surtax on unearned investment income and the 0.9% additional tax on wages. Though the Patient Protection and Affordable Care Act (PPACA) faces an uncertain future, Obamacare remains the law of the land for the time being. The continued existence of the law has important …
11 Ways to Minimize the Bite from Medicare Taxes Read More »
Medicare is more complicated than most people think. Here are ten of the most common questions that come up on Medicare. With the baby boom generation entering retirement, many have questions about Medicare. People are confused—both about how the system works, and how these inner workings affect their retirement decisions. These ten questions address some …
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