Ever since President Franklin D. Roosevelt signed off on the 1935 Social Security Act, most Americans have ended up pondering this critical question as they approach retirement: “When should I (or we) start taking my (or our) Social Security?” And yet, the “right” answer to this common query remains as elusive as ever. It depends […]
Social Security Planning: A Balancing Act Read More »
Who doesn’t enjoy tying up year-end loose ends? The original SECURE Act was signed into law on December 20th, 2019. Its “sequel,” the SECURE 2.0 Act, was similarly enacted at year-end on December 29th, 2022. Both pieces of legislation seek to reform how Americans prepare for retirement while juggling current spending needs. How, when, or will
The SECURE 2.0 Act – 101 Read More »
Ever since President Franklin D. Roosevelt signed off on the 1935 Social Security Act, most Americans have ended up pondering this critical question as they approach retirement: “When should I (or we) start taking my (or our) Social Security?” And yet, the “right” answer to this common query remains as elusive as ever. It
When Should You Take Your Social Security? Read More »
If you’re under age 50, you can contribute up to $6,000 across one or more IRAs for 2022. If you’re age 50 or older, the limit is slightly higher ($7,000).* You can make an IRA contribution for a given year anytime between January 1 and the tax-filing deadline of the following year (usually April 15).
IRA contributions: The earlier, the better Read More »
As we wrap up LTC Awareness Month, it’s a stark reminder that nobody likes the idea nor the possibility of needing long-term care (LTC). But the truth of the matter is 70% of those age 65 and older will need some form of LTC. As life expectancy continues to rise as a result of medical and technological advances,
Long-Term Care: Facing The Future Read More »
Today, about one out of every three 65-year-olds can expect to live past age 90, and about one out of seven will live past age 95. A longer life span means more time to spend with family and friends or to pursue a passion. But it also means that more of us will need to
Bridging the family conversation gap Read More »
Every year, LTC Awareness Month rolls around just in time to get sideswiped by elections, holidays, and football. Here at PlanSimple, we focus on one of the biggest drivers towards a successful retirement plan, which is managing the cost of care. Most of us have seen it first hand, the nursing home that costs more
Long-Term Care Awareness Month Read More »
Social Security benefits will go up 8.7% in 2023, the largest adjustment in four decades. Here’s why you don’t need to rush to file to benefit from the increase. With all the talk about inflation these days, you may have heard the news that the 2023 cost-of-living adjustment (COLA) for Social Security benefits is 8.7%,
Should You File for Social Security Early to Capture the Inflation Adjustment? Read More »
Inflation has been the buzz word since the early stages of the COVID-19 pandemic. We all have experienced the frustration of rising prices whether from higher grocery bills, gas prices or virtually anything we want to purchase. To help combat rising prices, workers typically receive increases in their paychecks. Of course, every company handles raises
How Big Will The Social Security Cost of Living Adjustment Be For 2023? Read More »
Investing makes it possible for many of us to achieve important lifetime goals, such as retirement. That’s why we employ an investment approach based on more than nine decades of data, analysis and research, insights from behavioral finance, and close relationships with leading academics. There are four key concepts that play a vital role in
4 Steps to an Effective Portfolio Read More »