The Taxing Landscape of the IRS
It seems that millions of taxpayers still have not received their tax refunds from 2020 and even 2019.1 A major reason is due to the defunding of the IRS. Between 2010 […]
The Taxing Landscape of the IRS Read More »
It seems that millions of taxpayers still have not received their tax refunds from 2020 and even 2019.1 A major reason is due to the defunding of the IRS. Between 2010 […]
The Taxing Landscape of the IRS Read More »
In a recent episode of Retire Ready TV, Chris Heerlein of REAP Financial, a wealth management firm in Austin, Texas, emphasizes the significance of effectively managing healthcare expenses, a major concern for retirees. Heerlein draws attention to an often-overlooked aspect of retirement planning: Medicare IRMAA (Income-Related Monthly Adjustment Amount) surcharges. These surcharges can significantly increase Medicare premiums for those with higher incomes, impacting families who have diligently saved for retirement or maintain a comfortable lifestyle. Heerlein points out that many are caught off-guard by these additional costs and underscores the importance of understanding how Medicare premium increases work. He advises retirees to strategize for controlling these costs, particularly focusing on the impact of Required Minimum Distributions (RMDs) that commence at age 72. These mandatory withdrawals from IRAs and 401(k)s can inadvertently increase income, leading to higher Medicare premiums.
How to Not Let Healthcare Expenses Derail your Retirement Read More »
In his latest episode of Retire Ready TV, Chris Heerlein introduces a relatively unknown but powerful Social Security claiming strategy known as Voluntary Suspension. This strategy, particularly relevant since the elimination of the file-and-suspend and restricted application strategies in April 2016, allows individuals to optimize their Social Security benefits. Heerlein explains that Voluntary Suspension permits a person to start receiving Social Security benefits early, then suspend these benefits at full retirement age without the obligation to repay the amounts already received. This approach can be particularly beneficial for married couples, where one spouse starts receiving reduced benefits early, and the other defers theirs.
Maximizing Social Security Benefits: The Voluntary Suspension Strategy Read More »
What is a Virtual Family Office (VFO)? A Virtual Family Office (VFO) is an innovative approach to wealth management that caters to the needs of affluent families by offering personalized, comprehensive financial services and advice. Unlike traditional family offices, which are typically reserved for the ultra-wealthy with resources to maintain their own teams of financial professionals, a VFO leverages modern technology to provide similar high-level, tailored financial services virtually.
New Solution to Wealth Management? Hire a Virtual Family Office Firm Read More »
In 2019, the millennial generation (born from 1981 to 1996) surpassed the number of baby boomers (born between 1946 and 1964) in the United States. Today, one in four people
Millennials Step Up Read More »
Inflation was already on the rise before we learned about the omicron variant. Now on top of supply-chain shortages and transportation disruptions, Federal Reserve Chairman Jerome Powell recently observed that
What’s Up With Inflation Read More »
The U.S. is in the emergent stages of the omicron variant of the coronavirus. However, we now have some experience in what this could mean moving forward, both for the
Implications of Omicron Read More »
People have many different reasons for getting married or not getting married. But for some committed couples, it can come down to a few basic points. One of those is
Financial Perspective: Marry, Cohabitate or Stay Single? Read More »
Some people have no trouble saving money — they stash away any cash they don’t need, and their account grows and grows. These people usually aren’t very materialistic and don’t
Savings Strategies for 2022 Read More »
There are moments in history when people have claimed investment choices don’t matter because if the market is up across the board, you cannot fail. That is not true. In
How to Evaluate a Stock Read More »