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 [...]
Gifting is a great financial planning tool, especially at the end of the year. Alhambra's Bob Williams goes through the basics.
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.
Social Security benefits are calculated on your top 35 earning years. What if you have some years with zero earnings? Alhambra’s Bob Williams explains.
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.
As expected, the Social Security Administration has announced that the 2023 Cost of Living Adjustment (COLA) will be the largest COLA in 42 years, brought on by rampant inflation not seen in more than four decades. Social Security benefits increase automatically if the Consumer Price Index (CPI-W) which measures price inflation for urban workers is more in the third quarter [...]
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