Retirement

Take This Quiz: The Social Security Retirement Earnings Test

Can you work and receive Social Security retirement benefits at the same time? Yes, but the Social Security Administration (SSA) will apply an earnings test. Part or all of your monthly benefit may be withheld if you earn too much. To help avoid surprises, take this quiz to find out what you know — and …

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November 2019 Monthly Recap

Don’t Forget to Set Your Clocks Back! Daylight Savings Time ends this weekend, and it is time to “fall” back. Don’t forget to adjust your clocks back one hour on Nov. 3 at 2 a.m. and enjoy an extra hour of sleep!     Is Now The Time to Refinance?  If you have been considering …

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Roth 5 Year Waiting Period Rules

There are some unclear and misunderstood rules that exist for ROTH IRA distributions. Qualified Distributions, which are both tax and penalty free, are distributions that occur 5 years after the first Roth IRA account is established, and the account holder is over age 59.5. For all other distributions, unless there is an exception, distributions may …

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How Much Will Health Care Cost?

Retirement health-care costs will vary depending on your health and longevity, but it may help to have a guideline. These are the estimated savings required for an individual or couple who turned 65 in 2019 to have a 90% chance of meeting expenses for Medicare Part B health insurance, Part D prescription drug coverage, Medigap …

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Balancing 401(k) and HSA Contributions

If you have the opportunity to contribute to both a 401(k) and a health savings account (HSA), you may wonder how best to take advantage of them. Determining how much to contribute to each type of plan will require some careful thought and strategic planning. Understand the tax benefits A traditional, non-Roth 401(k) allows you …

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