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 that’s discovered a happy family doesn’t require two incomes, here are [...]
Have you made preparations? It’s a question I’ve asked clients more times than I can count, but I was reminded of the significance of the question and the possible consequences when I recently asked the same thing of a family member. Bill (not his real name) is 70 years old and never been married. He’s in the early stages [...]
Talk about a shock. You go to pick up a prescription and you’re told you owe $120! “Wait a minute,” you say to the pharmacist. “I’m on Medicare. I have prescription drug coverage.” “Yes, but it doesn’t cover the entire cost of this medicine,” the pharmacist says. “The $120 is your part.” So, you write a check [...]
You’d think retirees would get some consideration from the IRS. I mean, they’ve worked their entire adult life, paid their taxes (well, most of them), and paid them no matter what administration was in office or what stupid rules an administration put on the books. Now they’re retired. But it doesn’t mean they’re exempt from IRS audits. Reasons retirees [...]
Sam sat at the table holding his chin in his hand. “My kids are going to inherit my estate. Do I give it to them now or let them inherit it after I’m gone?” That’s an estate planning question that’s been pondered ad infinitum. There is no black-and-white answer. Your decision will be based on your particular circumstance. But [...]
Debt has become an American way of life. We owe a lot of money. The Federal Reserve of New York says that at the end of 2025, we collectively owed $18.8 trillion. Break that down and one of the largest classes of consumer debt in the U.S. is student loan debt. 43 million Americans have student debt Total student debt [...]
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