Medicare contains many rules that beneficiaries and their caregivers are required to learn. Perhaps the best way to grasp the program's details is to review the major components of the Medicare program: Parts A, B, C, and D. Medicare Part A: Hospital Insurance This insurance is designed to help cover the following: Inpatient care [...]
As the saying goes, "Parents are people who carry pictures in their wallets -- where their money used to be." The U.S. Department of Agriculture estimates that the cost of raising a child born in 2015 through age 17 averages $233,610 for a typical middle-income family -- and that doesn't include the cost of college [...]
Home ownership is the cornerstone of the American Dream. But before you buy a home, consider a number of things. First, look at buying a home as a lifestyle investment and only secondly as a financial investment. Over time, buying a home can be a good way to build equity. But as recent history has [...]
The SECURE Act - Top 10 Key Provisions to Provide Retirement Savings Benefits for Employees and Employers Open Multiple Employer Plans / Pooled Employer Plans – The SECURE Act allows unrelated small employers to band together in “open” 401(k) multiple-employer plans (MEPs; also referred to as pooled employer plans (PEPs)). This reduces the costs and [...]
As a financial advisor, I experience highs and lows…and I’m not talking about the stock market. One of the areas I cherish most about what I get to do with my life is seeing people succeed financially and make progress towards their goals. That never gets old, it still fires me up! But I also [...]
New Contribution Limits for 401(k) Plans, Traditional and Roth IRA, and Pension Plans The IRS has announced cost of living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2020. For company retirement plans, the most recognized highlight is the 401(k) contribution limit increase to $19,500 for the new year. [...]
With longer life spans come extended healthcare needs — and significantly more dollars required to pay for them It’s more likely today that you’ll live longer than your grandparents did. The flip side is that you may spend far more on doctors’ bills and treatment for chronic illnesses than previous generations. With healthcare costs continuing [...]
“At LPL Research, as we look forward to the year 2020 and a new decade, some key trends and market signals will be important to watch, including progress on U.S.-China trade discussions, an encouraging outlook from corporate America, and continued strength in consumer spending. Trade risk, slower global growth, and the impeachment inquiry have garnered [...]
In the sports world, a mental error can cost your team the big game. When you are investing, a mental error can put your retirement portfolio at risk. Mistakes often result from letting misconceptions and emotions affect your decisions. Successful investing generally requires logic and reasoning. To avoid a fumble, you may want to guard [...]
Grab your sunglasses -- summer's here, and it's time to kick back and relax...(and create a financial plan). If only it were that easy. It would be great if all your worries disappeared when summer arrived, but that doesn't happen. Actually, if money is stressing you out and you're planning to take a vacation, summertime [...]
