Enrollment Penalties for Medicare Part D
Many seniors today are planning on working much later into their lives than previous generations have. Because of this many of the rules regarding Social Security and Medicare benefits are a bit confusing. For example, what happens with a senior who continues using their work’s high deductible health care plan [...]
HSAs and Medicare
Do you or your spouse have a health savings account or an HSA? They are a great benefit that can be coupled with a high deductible insurance plan that is offered by many companies. You may be wondering how your HSA might interact with Medicare or Medicare benefits. Let’s take [...]
Social Security and Taxes
Did you know that there may be instances where you are taxed on your Social Security benefits? Depending on what kind of retirement accounts you are drawing from there is a risk that your benefits could add to your total income increasing the amount you must pay in taxes. Here [...]
Tips to Make the Most of your Social Security Benefits
Social Security benefits are an important part of many people’s retirement finances. Because of this you want to be able to maximize the benefits that you are going to be receiving. Here are some tips that will help you maximize your benefits. […]
Filing Early for Your Spouse
The spousal benefit can be a pretty confusing part of your Social Security benefits. For example, if you are a primary earner, but your low income earning spouse (who happens to be older than you) wishes to collect their spousal benefits based on your income they may not be able [...]
Pause Your Social Security for Now
Did you begin collecting your social security benefits sooner than you actually needed to? If you did this means that you could be affecting the amount of benefits that you are going to be receiving later in life. Fortunately there is something that you can do. It is called a [...]
Renting Versus Owning
Is renting a better option for seniors than owning? While renting does come with the high cost of rent, there are some benefits that come along with renting a place over owning. It may be for you or your elderly loved one. Take a look at some of the benefits [...]
Avoid These Financial Planning Mistakes
Retirement is expensive and tricky. Balancing an income from investment accounts, pensions and retirement funds takes a steady hand and some knowhow. Don’t fall prey to these common mistakes and put you and your spouse in a bad financial situation when you need your money the most. […]