Random stuff I find interesting and you may not.
There is also a Part D penalty…. The Part B penalty is a permanent charge every month There are many rules associated with Medicare enrollment, but here are a few of the basics: Medicare Part A, which covers hospital insurance, is typically free of premiums for individuals who have worked at least 40 quarters of … Read more
The 2021 Social Security and Medicare Trustees’ annual reports are 138 days late and counting. The law requires the Board of Trustees of Social Security and Medicare to submit to Congress annual reports on the financial condition of these vital programs by April 1. This requirement has been in place since 1967. The board now … Read more
COVID-19, which seems likely to morph into COVID-21 and so on, is involved in many factors affecting home-based care. It forced everyone to spend time at home. Once there, we liked what we saw, and have been pouring enormous sums into fixing up and expanding our homes. Home-centric life isn’t going to change anytime soon. … Read more
It’s understandable that we’re now paying a lot of attention to Joe Biden’s risky proposals for higher taxes and a bigger welfare state. After all, it’s a very bad idea to copy the economic policies of nations such as Italy, France, and Greece (unless, of course, you want much lower living standards). But let’s not … Read more
Pensions are increasingly rare these days. The reason is simple: Offering pensions requires companies to make an expensive, long-term commitment to its retirees. So it’s understandable that even companies that still provide a pension benefit are looking to reduce their costs and risks. One strategy for achieving that goal is to offer pensioners a one-time … Read more
Then she heard about ITN Central Connecticut, a volunteer driving service that charges less than taxis. The service requires passengers to pay in advance through individual accounts so that no money changes hands during rides. Volunteer drivers would pick Leonard up at 5:30 in the afternoon for her class once a week scheduled from 6 … Read more
Of the five most expensive wars the United States has waged, only one – World War II – involved an armed enemy. The other five – poverty, drugs, terror, and Covid, were all wars on nouns. Now the federal government appears to have inadvertently stumbled into another war – the War on Retirement. Unlike the … Read more
Stop focusing on the big, scary numbers As retirement risks go, it’s one of the more impossible to manage and mitigate. Or is it? For years now, firms in the financial services industry, as well as researchers, have been scaring preretirees into thinking they need an ungodly amount of money set aside at age 65 … Read more
On her first day in her role as the new CDC director, Rochelle Walensky announced that the Biden administration would extend Trump’s moratorium on evictions through the end of March and perhaps beyond. To justify this decision, Walensky said, “[Coronavirus] has also triggered a housing affordability crisis that disproportionately affects some communities.” But the real … Read more
Terry Robison had the perfect retirement plan, and his idea actually made seniors do thorough thinking. Robison’s story went viral, and we came up with a few nice ideas. The 64-year-old and his wife Renee won’t spend the rest of their lives in a regular retirement home. The couple plans to enjoy all the benefits … Read more
A lot of professional organizations are coming to realize what we figured out many years ago: Working from home has a lot of challenges, but also a tremendous amount of benefits. One benefit we have long enjoyed is, by not requiring someone to move, we are able to recruit the best people to be part … Read more
In the last few months [Feb. – April 2020], we have gradually realized the dire nature of this global pandemic, and our response has been? Nothing short of the creation of a new world: hopefully not on the ruins of the last. The novel coronavirus is showing us the downside of accelerated mobility, excessive attention … Read more
Divorces devastate many people’s finances. Yet because it is uncomfortable to discuss, we avoid the topic. Easier for me to write, and for you to read, another article about early retirement health care, safe withdrawal rates or tax planning. No risk there. . . . How A Marriage Contract (Pre-Nup) Can Protect Your Retirement Assets … Read more
On January 31, 1940, Miss Ida Fuller received a check for $22.54. She was the first person to retire under the Old-Age, Survivors, and Disability Insurance (OASDI) scheme, better known as Social Security. At the time of her retirement in 1939, she had paid just $22 in Social Security taxes. Ms. Fuller lived to be … Read more
Establish Boundaries — And Stick to Them “The primary thing is to communicate the boundaries of what you can do and what you’re unable or unwilling to do,” says Susan Zimmerman, a chartered financial consultant, marriage and family therapist and co-founder of Mindful Asset Planning in Apple Valley, Minn. It’s always hard to turn someone … Read more
Elder Index measures the income needed for older people to stay in their own homes and meet their daily living costs . . . Q: How big a problem is economic insecurity among the elderly? Mutchler: Our research shows that in 2019, half of older Americans living on their own lacked the income needed to … Read more
Welcoming an adult child home after college graduation is a shift more middle-age Americans will face as their kids, pressured by student loan debt and rising living costs, return to their childhood homes. More than 15% of 25-to-35-year-olds lived at home in 2016, according to The Pew Research Center, 5 percentage points higher than the … Read more
When should you claim Social Security? The optimum date for starting retirement benefits is the subject of much debate and analysis. For most people, however, it’s a simple matter of when they need the cash—and, indeed, many folks claim as soon as they’re age 62 and eligible. The experts can run models all they want. … Read more