By Ben Carlson, originally published at A Wealth of Common Sense. Some notable market moves we’ve experienced this year: Mortgage rates have gone from 6% to 7%. The 10 year Treasury yield has gone from 4% to 5%. The inflation rate was 2.4% earlier in the year. Now it’s 3.4%. Oil prices have shot up […]
Ben Carlson
Key Points HSAs make it easy to save for healthcare costs in a tax-friendly manner. Taking a non-medical HSA withdrawal can trigger a costly penalty. Once you reach a certain age, that penalty goes away. The $23,760 Social Security bonus most retirees completely overlook › If you’re nearing retirement with a huge balance in your […]
By Nick Maggiulli, originally published at Of Dollars And Data. A few months ago, I analyzed U.S. stock returns over the last century. Today, I’m going to determine the best portfolio over the last 50 years among the following asset classes: U.S. Stocks International Stocks Real Estate Investment Trusts (REITs) U.S. Corporate Bonds 10-Year Treasury […]
Nick Maggiulli
Key Points Social Security’s annual cost-of-living adjustment is determined by inflation data from July, August, and September. Retirees just received the second critical data point for the COLA. The $23,760 Social Security bonus most retirees completely overlook › Although inflation remains stubbornly high, Social Security retirees can take some solace in knowing they will likely […]
Key Points Medicare open enrollment starts on Oct. 15 and continues through Dec. 7. It’s an opportunity for current enrollees to make coverage changes. Even if you’re happy with you Medicare plan, it pays to see what options you have. The $23,760 Social Security bonus most retirees completely overlook › By mid-October, a lot of […]
Key Points Social Security benefits are an important source of income but the rules can be confusing. If you don’t understand how your benefits work, you could end up costing yourself money. This can be an especially big issue the first year if certain Social Security rules catch you off guard. The $23,760 Social Security […]
Welcome everyone! Welcome to the 507th episode of the Financial Advisor Success Podcast! My guest on today’s podcast is Carolyn McClanahan. Carolyn is the founder of Life Planning Partners, an RIA based in Jacksonville, Florida, that oversees $300 million in assets under management for 65 client households. What’s unique about Carolyn, though, is how she […]
Michael Kitces
Key Points Following inflation data from August, Social Security’s upcoming COLA projection has shifted upward. Many seniors are hoping to see a much larger raise. A giant COLA is a sign that inflation is picking up, which isn’t helpful to retirees. The $23,760 Social Security bonus most retirees completely overlook › If someone were to […]
Key Points The average is bigger than you might expect, although most people in this peer group have saved up much less than the average. The real surprise is how much less Generation X has saved in their retirement accounts outside of workplace retirement plans (compared to baby boomers). Although it’s an interesting reference point […]
By Rick Kahler, originally published at Financial Awakenings. For most of my career I’ve heard predictions, usually from the party not in power, that the federal debt would end in collapse. Not having seen a collapse yet, I’m skeptical of new warnings. But a recent one includes one fact that isn’t a prediction at all, […]
Rick Kahler
Key Points A 401(k) is a great option if it’s available to you, especially if you qualify for a match. Those with high-deductible health insurance plans can stash money in an HSA. A taxable brokerage account could be a good choice for those hoping to retire early. The $23,760 Social Security bonus most retirees completely […]
Key Points Social Security recipients are due for an increase in their payments at the beginning of the coming year. The size of this rise will be announced in October once September’s inflation data is reported. However, it accelerates a growing problem for continued solvency of the entire Social Security program. The $23,760 Social Security […]
Key Points Social Security benefits may be headed for sweeping cuts if lawmakers don’t intervene. Because I have a very specific use for Social Security in retirement, those cuts may be less of an issue for me. There’s also a chance benefits won’t end up being reduced at all. The $23,760 Social Security bonus most […]
Key Points You may get a larger lifetime benefit by applying earlier if you have a short life expectancy. Delaying until 70 isn’t your best option if you need your checks to pay your bills today. Your spouse can’t claim a spousal benefit on your work record until you apply for retirement benefits. The $23,760 […]
Heavy turnover leaves advisory firms in a vicious cycle of allocating resources to recruit and onboard new advisors, only to lose them before they generate enough value for the firm to recover its investment. And given that McKinsey projects a shortage of more than 100,000 financial advisors over the next decade, it’s never been more […]
Michael Kitces
Key Points On Oct. 14, the Social Security Administration is scheduled to announce an official 2027 COLA. Currently estimates put next year’s COLA in the mid-3% range. If inflation wiggles a lot in September, that number could change. The $23,760 Social Security bonus most retirees completely overlook › Millions of retired Americans today collect Social […]
Key Points An ex-spouse can claim Social Security based on your work record only if they’re eligible. Your ex-spouse can receive benefits even if you’ve remarried. Your ex will need to provide proof of your marriage and divorce. The $23,760 Social Security bonus most retirees completely overlook › Picture this: You’re divorced and remarried to […]
By Ben Carlson, originally published at A Wealth of Common Sense. Taxes are a funny thing. No one likes paying them. Everyone does their best to minimize them when possible. A dollar saved on taxes feels multiple times better than a dollar earned from a paycheck. People hate paying taxes even more than they enjoy […]
Ben Carlson
