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Topic:
Retirement Planning
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What You Need to Know About Medicare: Medicare Part B
Medicare Part B is the “medical insurance” portion of Medicare. Medicare Part B coverage is paid for by a monthly premium that is based on your Modified Adjusted Gross Income (MAGI) from two years before you enroll. If you are receiving Social Security and do not want Part B, you must opt-out; otherwise, you will…
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What You Need to Know About Medicare: General Medicare Overview
Unforeseen healthcare costs can be most disruptive to an individual’s financial and retirement plans. But with appropriate forethought, you can reduce the risk of the financial devastation that a large healthcare bill can cause. This article discusses the steps you should take to compare Medicare plans and some of the basic plan details with which…
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What You Need to Know About Medicare: Medicare Part A
Medicare Part A is the “hospital insurance” portion of Medicare. For most people who have paid Medicare taxes throughout their working life, there is no premium for Medicare Part A coverage. If you do not qualify for premium-free Medicare Part A, it can be purchased for $471 per month (as of 2021). If you do…
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Why do experts call my 401k a “qualified plan”?
The quick answer is: A qualified plan is an employer-sponsored retirement plan that qualifies for special tax treatment under Section 401(a) of the Internal Revenue Code. Now for some not too detailed details… There are many different types of qualified plans, but they all fall into two categories. (1) Defined benefit plans (like a traditional…
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My first big paycheck is finally in the bank – now what?
Recently I have been talking to clients’ kids or grandkids who have just graduated from college and are starting their first jobs as professionals. Some starting salaries can easily be in the low six figures depending on the profession, so a road map that covers how and where to start saving can be beneficial in…
