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Social Security Questions a Financial Professional Can Address
Believe it or not, your financial situation and circumstances are unique. Factors such as debt, your health, the age of your children if you have them, and other seemingly disparate factors profoundly influence your financial standing as you near retirement. The advantage of having a financial professional working with you is their ability to consider and monitor factors that can [...]
Uncovering Employer-Sponsored Retirement Accounts
In this article, we’re going to cover exactly how employer-sponsored retirement accounts work. If you have one already, or you are currently being offered one, this will help you get a sense of how the accounts work and what they mean for you. The Basics of the Employer-Sponsored Retirement Account First, the basics. An employer-sponsored retirement account is an account [...]
Medicare Open Enrollment is Happening Now!
The open enrollment phase for Medicare runs from October 15 to December 7 each year.[1] During this period, you have the opportunity to adjust your healthcare plan and prescription medication coverage as per your requirements.[1] Each year, modifications are made to health plans and networks, so it’s vital that you stay informed about any alterations in your coverage.[1] If there [...]
Understanding the Complexities of Long-Term Care
While staying healthy is something achievable in retirement, there is no way currently to reverse the aging process. As such, health needs arise, including those for doing daily tasks. Assistance for such tasks is called long-term care. Not everyone will need it, of course, but it is something that can come up for you during your retirement years. According to [...]
The Financial Importance of October for Seniors
As we transition into the cooler months and approach October, a crucial update awaits retirees: the announcement of the 2023 Cost of Living Adjustment (COLA) for Social Security. "COLA" is an abbreviation for "cost of living adjustment," a term that refers to the annual increase in Social Security benefits.[1] Each year, Social Security has a percentage increase designed to offset [...]
A Report on Inflation for the Summer of 2023
The topic of inflation has been sparking intense debate in the realms of finance and politics recently. It's possible that you've personally experienced the effects of inflation. Maybe you've gone to purchase something only to find it's significantly pricier than you anticipated. A good illustration of what has been happening recently with inflation is the cost of eggs. In 2022, [...]
What Turning 59 ½ Means for Your Retirement
Upon reaching the age of 59 ½, numerous changes start to take place, with the most significant being the ability to start withdrawing from retirement accounts like 401(k)s and IRAs.[1][2] This age is also crucial as it may signify a transition in one's investment and retirement approach. During the time when you are working, you find yourself in what is [...]
Important Retirement Options for Small Business Owners
Retirement is different for folks who are running a small business. Your retirement is something that isn’t set up by an employer, and you often must manage it on your own. And in some cases, business owners have to manage options on behalf of their employees too. If you are running your own business and are interested in setting yourself [...]