No Raise for Social Security Retirees in 2021
The crystal balls are coming out early this year as financial prognosticators make projections about Social Security payouts in 2021. Because of the COVID-19 pandemic and subsequent U.S. lockdown of both people and the economy, there is a growing belief that there will be little or no Social Security cost-of-living adjustment (COLA) next year based on economic facts and the [...]
Like-Kind Exchange Deadline Extensions – IRS Notice 2020-23 Violates The Inviolate
By Rafael A. Perez, Esq., Partner at McArdle, Perez & Franco P.L. and Chief Compliance Officer at Alhambra Investments Introduction: Over the past several decades of practicing real estate law I have had many clients, both domestic and foreign, ask me to apply for an extension of a like-kind exchange deadline. My response has always been that this is [...]
New Retirement Account Rules – COVID-19
The Coronavirus is changing the landscape, as we know it, in almost every part of life. Unquestionably, it’s also shaking up the financial universe and changing rules that have been etched in stone for decades, and retirement accounts are no exception. With the Coronavirus Aid, Relief, and Economic Security Act (CARE) now law, Americans 72 years old and older get [...]
2019 IRA Contributions Delay
As a result of the COVID-19 pandemic, U.S. Treasury Secretary Steve Mnuchin extended the 2019 tax filing date to July 15. As a result, it also extends the deadline for making a 2019 contribution to your Individual Retirement Account (IRA) or Roth IRA. You now have until July 15 to make last year’s contributions. According to the Internal Revenue Code, [...]
When To Buy MediGap Insurance
I was having a conversation about retirement health insurance with an acquaintance of mine who just retired. He’s a former corporate executive—an analytical person—who’s always done his homework to avoid as many surprises as possible in the business world. He’s done the same thing with healthcare and decided that a Medigap policy is best to handle that part of his [...]
The Magic Is Gone
I’m a Baby Boomer—in the middle of the Boomer pack. Talk to almost anyone of my generation and they’ll tell you stories of what retirement looked like for workers when we were growing up. Back then it was common for someone to work for only one company, starting at age 18 and retiring at 65. You took your pension and [...]
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