It’s just human nature. When we buy something, we want to pay the lowest price and get the best deal. That same principle applies to America’s seniors when they turn 65 and have to choose a Medicare Part D Prescription drug plan. The problem, though, is that choosing the lowest premium Part D plan may actually be more expensive in [...]
It’s called a “My Social Security” account. It’s often thought of as something for people getting Social Security benefits. In reality, there are positives for anyone who’s working and paying Social Security taxes. Protect Your Social Security from Identity Thieves Once you set up a “My Social Security” account, you’re protected. There can never be more than one account [...]
Celebrities are often placed on a pedestal because of their success and their extraordinary talent—people like Elvis, Aretha Franklin, Prince, Michael Jackson, Howard Hughes, Pablo Picasso, Bob Marley and Jimi Hendrix. They were gifted and they made boat-loads of money doing what they did best. But making money has no correlation to handling money. And in the case of everyone [...]
I can, I will, I can’t, I won’t. Those are all responses we’ve heard in the past two years about deciding to retire. The response you give or the response you get is directly related to the U.S. economy. Before COVID, American workers age 55 and above were retiring at a rate of approximately one million per year. But [...]
Social Security is usually thought of in terms of an individual’s retirement benefit. But it’s equally important to understand the benefits of Social Security for married couples. Whether you’re a Baby Boomer spouse with limited work history because you stayed home to raise the kids, or a married couple who discovered during COVID that a happy family doesn’t require two [...]
So, you’re almost eligible for Medicare. For many who have struggled with health insurance since Congress passed Obamacare in 2010, going on Medicare is a step up from the expensive, high deductible, limited option plans available to them. But Medicare can be problematic too if you don’t know what to look for. Here are 9 of the most common Medicare [...]
You need more than a Will or Trust to round out your estate plan. Alhambra's Bob Williams lists other Must Have planning documents.
In 2012, the American Taxpayer Relief Act (ATRA) established, for the first time, a permanent estate tax and gift tax exemption. The exemption is the amount an individual can pass on at death without paying estate taxes. The legislation set the exemption at $5 million per person, indexed for inflation. Five years later, Congress decided the exemption was not large [...]
Worried about saving enough for retirement? You can put away more next year. The IRS has just announced the new retirement plan contribution limits for 2023. The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan increases to $22,500, up from $20,500. For individuals 50 and older, the catch-up contribution [...]
Alhambra's Bob Williams highlights pitfalls to watch out for when signing up for Social Security.
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