Posts by dreed5n834
Fewer Americans are buying life insurance. Here’s when you might need it
By: Greg Iacurci from CNBC Fewer Americans are buying life insurance than in the past, which suggests households may be at financial risk in the event of an unexpected death, experts said. About half, or 52%, of consumers had a life insurance policy in January 2023, down from 63% in 2011, according to the results of a…
Read MoreUnderstanding IRMAA and Why it Really Matters: For those in Medicare, IRMAA can have a big impact on healthcare costs
IRMAA, which stands for Income-Related Monthly Adjustment Amount, is a term that may not be familiar to everyone. However, for individuals enrolled in Medicare, IRMAA can have a significant impact on their healthcare costs. Here are the basics of IRMAA, why it matters, and how it can affect your Medicare expenses. What is IRMAA? IRMAA,…
Read MoreUnderstanding Today’s Private Health Insurance
In the complex landscape of healthcare coverage, individuals often find themselves navigating the options of private and public health insurance. While public plans, such as Medicare and Medicaid, are funded and administered by the government, private health insurance is provided by private companies. Let’s explore the realm of private health insurance, shedding light on its…
Read MoreDon’t Overlook These New RMD Rules for 2024: Learn about the 2024 guidelines related to required minimum distributions from qualified retirement accounts.
Your required minimum distributions, or RMDs, can impact other aspects of your financial life, like taxes or Medicare costs. Key Takeaways: Most closing costs are paid by the buyer, but some are the responsibility of the seller. Closing costs typically range from 2% to 5% of the home purchase price. Some first-time homebuyers may qualify…
Read MoreIs Retiring Abroad a Smart Financial Move?: Researching and planning will ensure your golden years are truly golden
With the rising cost of living, mounting health care expenses, and the relentless creep of inflation, retirement in the U.S. is becoming a costly affair. For many Americans, particularly those aged 35-55, the golden years might not seem so golden. But what if there was another way? For many, the idea of retiring abroad has…
Read MoreThe Importance of Maximizing Contributions to Retirement Savings Accounts while Saving on Taxes
One of the most compelling reasons to maximize retirement contributions is the power of compound growth. The earlier and more you contribute, the more time your money has to grow exponentially. This means that your investments earn returns, and those returns themselves earn returns, creating a snowball effect that can significantly increase the value of…
Read MoreTips to Planning Your Purposeful Retirement : Three science-backed avenues to retirement enrichment and fulfillment
Retirement is often idealized as a serene period of well-deserved rest and leisure. Yet, while the respite from a career’s demands is welcome, retirees soon find that the keys to living well in this new phase are engagement and purpose. Research consistently shows that having a sense of purpose is linked to better health, lower…
Read MoreRetirement Planning: Do We Stay or Do We Go?: Tips to find a balance that honors your emotional bonds and practical needs
As we sail into the golden years, the familiar shores of our longstanding homes beckon with the comfort of decades’ worth of cherished memories. Yet, the winds of change carry whispers of continuing care communities, offering a different kind of allure with promises of ease, convenience, and peace of mind. It’s at this juncture that…
Read MoreHow to Test, Create, and Launch a Membership Business Idea with a Founder Launch
Launching a membership business can be a lucrative and sustainable way to generate recurring revenue. However, it requires careful planning, market validation, and strategic execution. A Founder Launch—a methodical approach taken by the business founder—can help streamline this process. Here’s a comprehensive guide on how to test, create, and launch your membership business idea using…
Read MoreThe Importance of Building an Emergency Fund and How to Do It
In today’s uncertain financial landscape, having an emergency fund is not just a luxury—it’s a necessity. An emergency fund, typically comprising 3-6 months’ worth of living expenses, serves as a financial safety net in case of unexpected events. Here’s why it’s crucial to have one and some practical steps to help you build it. Why…
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