Medicare Part D drug coverage gap closing at faster clip
The gap for brand-name prescription drugs for Medicare beneficiaries is likely to narrow down to 25% of drug costs from the scheduled 30% next year.
Social Security
How to defuse your client’s tax time bomb
To avoid a hefty tax bill when taking withdrawals from retirement accounts, clients should consider holding their assets in three "tax buckets.”
Just how valuable are the tax advantages of retirement accounts?
Historical simulations show that the value of investing in these accounts is getting an average of 1.7% in additional earnings.
Think saving for retirement is unrealistic? Try retiring with no savings
A new survey finds that three-quarters of baby boomers expect to postpone retirement due to a unrealistic expectations of medical expenses, among other reasons.
Think saving for retirement is unrealistic? Try retiring with no savings
A new survey finds that three-quarters of baby boomers expect to postpone retirement due to a unrealistic expectations of medical expenses, among other reasons.
What’s next for U.S. fertility rates — and Social Security
The U.S. needs to maintain its fertility rate and keep its population growth steady to ensure Social Security's sustainability, says expert.
3 Social Security mistakes that could cost employees a fortune
Filing for Social Security can be a wrong move if seniors are still employed and earning a wage income.
Why do so many workers claim Social Security at 62?
Some are forced to retire early because of disability, layoff and health issues, while others fear that the program will reduce future benefit payouts as a result of its financial woes.
Before choosing an annuity, know the tax implications
Annuities can be qualified or non-qualified and are subject to different tax treatments. There are also estate tax consequences as well as tax penalties to consider.
Here’s how the timing of Social Security could ruin employees’ finances
If retirees intend to rely heavily on Social Security for income, they should consider adjusting the timing of their bills to the date that they will receive their benefits.
The real reason why your 401(k) fees are falling
Mutual fund costs have fallen to 48 basis points in 2016 from 77 basis points in 2000 for plan participants, according to data from Investment Company Institute.
The huge financial burden many retirees now face
Rents have increased an average of 3% annually over the 14-year time period of the study, while incomes have declined .1% annually.
42% of women fear they’ll run out of money by age 80
A study by Merrill Lynch and Age Wave has found that 42% of women are concerned that they will outlive their nest egg when they reach the age of 80.
Will spousal benefits decrease if husband files early?
Whether the husband takes reduced benefits has no impact on the spousal rate, although it could effect potential widow's benefits, according to a Social Security expert.
When to step in and take over an older parent’s finances
Retirees should delegate the management of their finances to their children before they reach advance years and their health starts to decline.
Medicare costs could rise by more than 200% for these retirees
Medicare premiums will increase for high-income retirees because of the change in the income brackets that will serve as basis for determining these premiums for their Part B and Part D coverage.
Solving the healthcare puzzle with a health savings account
Workers with a high-deductible health plan will be better off setting up a health savings account, which offers tax benefits for savings earmarked for future medical expenses.
How to claim Social Security benefits wisely
Clients should determine the benefits they would receive if they file at age 62, at full retirement age, and after their full retirement age.
Social Security ‘is under attack,’ say these congressional Democrats
A recent report from Democrats on the Joint Economic Committee says that Social Security is being threatened, and the federal government should consider modernizing and enhancing the program.
Social Security insecurity creates planning challenges for advisers
Inflated client expectations mingled with fears of congressional cutbacks are making retirement planning even more complex.
