May 2018

Retirement Articles This Week

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April 17 is your tax deadline this year

Why is Tax Day April 17?

The regular tax return filing deadline is April 15. However, due to April 15 being on a Sunday and the Washington D.C. Emancipation Day holiday being observed on April 16 instead of April 15, 2018, Tax Day is on the following Tuesday.

Posted on Saturday, April 14 by Registered CommenterWise Owl | Comments Off

Neglecting Our Health

Between a third and a half of people age 45 to 59 and a quarter of those 60+ went without needed health care in the past year due to its cost, according to a troubling new survey from the West Health Institute and NORC at the University of Chicago.


The percentages were less dramatic for people 60 + (boomers aged 60 to 72 and Americans older than 72) — perhaps partly because those 65 and older have Medicare. But they are still concerning:

  • 30% didn’t go to a dentist last year when they needed treatment
  • 27% went without a routine physical or other preventive health care
  • 25% didn’t fill a prescription or took less than the prescribed dose of medicine
  • 25% skipped a recommended medical test or treatment
  • 24% didn’t go to the doctor when they were sick or injured

Courtesy of


Posted on Sunday, April 8 by Registered CommenterWise Owl | Comments Off

Interest rate watch...10 year treasury heading up

Posted on Friday, February 2 by Registered CommenterWise Owl | Comments Off

See how You compare...Fidelity Average retirement account balances

Average retirement balances

Account type
Q2 2017
Q1 2017
One year ago
5 years ago
401(k) $97,700 $95,500 $89,100 $73,300
IRA $100,200
$98,100 $89,600 $73,100
SOURCE: Fidelity Investments
Posted on Wednesday, January 24 by Registered CommenterWise Owl | Comments Off

Take the cognitive test Trump just aced

A score of 26 is considered normal.  President Donald Trump did better than that — he aced it and got 30 out of 30. 
The  30 point test takes about 10 minutes. 

Montreal Cognitive Assessment

Posted on Thursday, January 18 by Registered CommenterWise Owl | Comments Off

Record highs in the markets!!...first week of 2018

The Dow Jones industrial average advanced 220.74 points to close at 25,295.87.

The S&P 500 climbed 0.7 percent and finished at 2,743.15, with tech stocks rising 1.2 percent.

The Nasdaq composite gained 0.8 percent to 7,136.56.

Posted on Friday, January 5 by Registered CommenterWise Owl | Comments Off

Happy new wishes for a prosperous 2018!

Posted on Sunday, December 31 by Registered CommenterWise Owl | Comments Off

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
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