December 2017

Retirement Articles This Week

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Small increase in your Social security check next year

Social Security recipients will be getting a 2 percent cost-of-living adjustment (COLA) in 2018, the biggest increase since 2012.

This year, 42 million retirees are receiving Social Security payments averaging $1,377 a month, or about $16,524 a year. With the 2018 COLA, payments will average $1,404 a month, or $16,848 a year.

The 2018 COLA could be crimped by higher Medicare Part B premiums. The standard premium is now about $134 a month, but many participants pay about $109 a month if they have the fee deducted from monthly benefit payments. A “hold harmless” provision in federal law prohibits Medicare from raising a person’s Part B premiums if it reduces their Social Security benefits. For the past two years, most Medicare beneficiaries have been held harmless because, without a significant COLA, increasing their premiums would have resulted in lower Social Security benefits.

Posted on Saturday, December 9 by Registered CommenterWise Owl | Comments Off

Good News...women Are Saving money and becoming 401k Millionaires

  • According to Fidelity figures given to the New York Times, the number of women who are 401(k) millionaires has doubled over the last 12 years. 
  • Women also reach the million-dollar mark at an average age of 58.5, whereas men reach the same mark at around 59.3 years.
  • These 401(k) millionaire women are putting away 18.1% of their salaries and receiving a 6.8% employer match. 
  • If you want to increase your 401(k) savings, try to up your contribution, take advantage of employer match, and allocate some of your bonus to retirement.

Posted on Sunday, December 3 by Registered CommenterWise Owl | Comments Off

Suze Orman..."70 is the New retirement age"

Forget about leaving the workforce at age 63.

"70 is the new retirement age," personal finance maven Suze Orman writes on Money. "Not a month or year before."

She points out that Americans are living longer, meaning your retirement savings need to last longer: "You likely have plenty saved up to breeze through 15 years or so of retirement. But, people, if you stop working in your 60s, your nest egg might need to support you for 30 years, not 15."

Posted on Friday, November 17 by Registered CommenterWise Owl | Comments Off

2018 workplace Retirement Plan contribution Limits

The Internal Revenue Service has raised the contribution limits for employees who participate in 401k, 403b, and most 457 plans to $18,500 in 2018, up from the current limit of $18,000.

Posted on Saturday, November 11 by Registered CommenterWise Owl | Comments Off

Medicare Annual Enrollment Runs Through December 7

During the enrollment period, clients can sign up for original Medicare Parts A and B.  Part A is free and covers hospital costs.  Part B has a monthly premium and covers outpatient services.  During initial enrollment, new beneficiaries can also enroll in a Medicare Part D prescription drug plan and select a supplemental Medigap policy to pay for costs such as Medicare's annual deductibles and co-payments.

About one-third of medicare beneficiaries forgo the original Medicare route and and opt instead for a Medicare Advantage plan, also knpwn as Medicare C, which includes all the hospital-iztion and outpatient services of original Medicare and often offers prescription drug coverage, too.  Most Medicare Advantage plans restrict access to in-networkhealth-care providers.

Posted on Saturday, November 11 by Registered CommenterWise Owl | Comments Off

Dow sets Record high...22,203

Posted on Thursday, September 14 by Registered CommenterWise Owl | Comments Off

Be prepared to Evacuate....hurricane Irma heading to florida

Here's a valuable tool to help you find gas during Hurricane Irma

GasBuddy.com

Posted on Thursday, September 7 by Registered CommenterWise Owl | Comments Off

Baby boomers Are not selling their homes

People 55 and older own 53 percent of U.S. owner-occupied houses, the biggest share since the government started collecting data in 1900, according to real estate website Trulia. That’s up from 43 percent a decade ago. Those ages 18 to 34 possess just 11 percent. When they were that age, baby boomers had homes at almost twice that level.

Posted on Sunday, August 20 by Registered CommenterWise Owl | Comments Off

Understanding bonds and bond funds

Make sure to understand how intererest rates affect your individual bonds and bond funds.

Here's a helpful video.

 

Posted on Sunday, August 20 by Registered CommenterWise Owl | Comments Off

Retired?...Need Income?

Many older homeowners are renting out their spare rooms trough Airbnb.

Seniors are the fastest growing demographic of Airbnb hosts in the United States, according to statistics by the travel website.  Nearly tep-thirds of all senior hosts are women, the company reported, and women age 60 and olderare consistently rated the best Airbnb hosts in the U.S.

Check out Airbnb.

Posted on Saturday, July 8 by Registered CommenterWise Owl | Comments Off

Happy 4th of july!!!...enjoy Your BBQ

Posted on Friday, June 30 by Registered CommenterWise Owl | Comments Off

Low gas prices...Time for a road trip!

The recent drop in the cost of oil has been a happy surprise for drivers, who are enjoying the cheapest gas prices at the start of summer in 12 years.

Oil prices have dipped into bear market territory and gasoline prices have followed, falling every day since June 2, according to AAA.

The average price nationally for a gallon of regular is now $2.28, down 10 cents since the start of the month.

Posted on Friday, June 23 by Registered CommenterWise Owl | Comments Off
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