Enrolling in Medicare Advantage for 2025? 3 Pitfalls Retirees Might Encounter
Medicare’s fall open enrollment period is rapidly winding down. At this point, you only have about another week to make changes to your coverage for 2025. And if you’re enrolled in Medicare Advantage, you may be thinking of switching to a new plan for the new year. Changing Medicare Advantage plans could be a smart […]
Have an IRA Account? You May Qualify to Transfer Up to $105,000 to Charity Tax Free.
The Investment Company Institute estimates that more than 42% of U.S. households had individual retirement accounts (IRAs) in 2023. As Americans get older, they begin to pull out funds from their retirement accounts to replace the recurring income they had from their jobs. The Internal Revenue Service (IRS) also requires retirees to pull out funds […]
This Popular Rule of Thumb May Not Work for Your Retirement
Building up a nice nest egg is only part of the process when it comes to setting yourself up for a financially sound retirement. It’s just as important to manage your savings wisely. To that end, you may be inclined to follow the 4% rule. It’s one that financial experts have long stood behind and […]
Earn $100,000 a Year? Here’s Exactly How Much More Social Security Tax You’ll Pay in 2025.
As with any government program, the money to fund Social Security has to come from somewhere. If you’re wondering where it comes from, the answer is — your paycheck. Social Security gets the bulk of its revenue from payroll taxes. When you see a deduction on your pay stub for FICA, that’s the sum you’re […]
