Searching online about how to retire and use your savings to live on in retirement turns up tons of information. There are articles about the percentage to take out, the taxes to be aware of, and the rules and regulations. The type of article that you probably won’t find is the one that puts these academic facts together with a person’s life considerations to try and offer a real plan of action for withdrawals. This Retirement Income Series of blog topics will seek to do that.
Read MoreWelcome back to our Retirement Income Series! Are you looking to retire and figure out what the retirement nest egg you’ve been building for all those years can do for you? In this article we’ll dive into the first step in the 4-step planning process that’s key to a retiree determining their own retirement income and withdrawal plan.
Read MoreTo effectively perform multi-year tax planning strategies, you need to start by looking at your overall income picture over your lifetime. Every single year is accounted for. Doing it this way creates a timeline that allows you to evaluate the bigger picture and identify where specific planning strategies along that timeline may help reduce your overall tax burden. Through this process, the goal is to determine which accounts to withdraw from and when based on your income and expense situation during various segments of time.
Read MoreMedicare: The United States’ version of universal healthcare for individuals aged 65 and older. Eligibility is a milestone that many retirees are excited to reach. Why? For those who retired prior to age 65, it often means lower costs or more comprehensive benefits. Unfortunately, regardless of age it’s usually also a rude awakening to the complex world of healthcare choices.
Read MoreThe Affordable Care Act (ACA) has been an important healthcare option since its inception in 2010. In 2022, enrollment hit an all-time high with 14.5 million consumers purchasing coverage through the ACA federal or state exchanges.
Read MoreIn this article, we’ll discuss an overview of the ACA system and things to consider if you are considering this coverage. Then, in our next post, we’ll put financial strategy to work by looking at one component of the ACA system – premium subsidies – and discuss how to optimize income to better take advantage of subsidies that reduce your out-of-pocket costs for monthly premiums.
Read MoreConcierge healthcare may be the newest of these pre-Medicare choices; it’s certainly the most rapidly changing. It stems from the dissatisfaction of patients and practitioners alike with the current healthcare system in the United States. Instead of long waits for an appointment where the physician may only have 15 minutes to see the patient, uncertain costs, and insurance haggling, concierge care seeks to do things different, and better, for all parties involved.
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