Medicare Open Enrollment for 2022 Begins October 15

Where can you get more information? Determining what coverage you have now and comparing it to other Medicare plans can be confusing and complicated. Pay attention to notices you receive from Medicare and from your plan, and take advantage of available help. You can call 1-800-MEDICARE or visit the Medicare website, medicare.gov, to use the Plan Finder […]

Should You Be Concerned About Inflation?

The next few months may indicate whether inflation is slowing down or changes in monetary policy are necessary. If you pay attention to financial news, you are probably seeing a lot of discussion about inflation, which has reared its head in the U.S. economy after being mostly dormant for the last decade. In May 2021, […]

Forecasting Surprises

What happens when the predictions are wrong?Is it time to panic?Is it time to ditch our strategy?It’s a fascinating question because it cuts right down to the question of what it means to live in an uncertain world.Humans are wired to dislike uncertainty.1And we’re used to a fair amount of (often unwarranted) certainty in the […]

American Families Plan Would Provide Benefits for Some, More Taxes for Others

The American Families Plan includes $1.8 trillion in proposed investments and tax credits for American families and children over a period of 10 years, as well as tax increases for those who earn more than $400,000 annually. On April 28, 2021, the White House released a fact sheet for President Biden’s American Families Plan (AFP), […]

Rising Inflation: Where Will It Go from Here?

Though all economists expect inflation numbers to rise in the near term, there are different views on the potential long-term effects. In March 2021, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.6%, the largest one-month increase since August 2012. Over the previous 12 months, the increase was 2.6%, the highest year-over-year inflation […]

Enhanced Child Tax Credit for 2021

Recent legislation made substantial, temporary improvements to the child tax credit for 2021 that may increase the amount you might receive. If you have qualifying children under the age of 18, you may be able to claim a child tax credit. (You may also be able to claim a partial credit for certain other dependents […]

How Much Annual Income Can Your Retirement Portfolio Provide?

More ways to help stretch your savings Don’t overspend early in your retirement Plan IRA distributions so you can preserve tax-deferred growth as long as possible Postpone taking Social Security benefits to increase payments Adjust your asset allocation Adjust your annual budget during years when returns are low Tax considerations Prolonging your savings may require […]

Common Factors Affecting Retirement Income

When it comes to planning for your retirement income, it’s easy to overlook some of the common factors that can affect how much you’ll have available to spend. If you don’t consider how your retirement income can be impacted by investment risk, inflation risk, catastrophic illness or long-term care, and taxes, you may not be […]

U.S. Credit-Card Debt Levels See Record Drop in 2020

U.S. Credit-Card Debt Levels See Record Drop in 2020 Despite the financial challenges experienced by Americans as a result of the coronavirus pandemic, U.S. credit-card debt dropped to record levels in 2020, decreasing by almost $83 billion.1 This unprecedented drop was likely the result of individuals receiving financial assistance through the Coronavirus Aid, Relief, and […]

Due Date for Federal Income Tax Returns and Payments Postponed to May 17

Tax deadline for most individuals: Monday, May 17, 2021 Due to the unusual conditions related to the coronavirus pandemic, the due date for individuals to file 2020 federal income tax returns and make tax payments has been postponed by the IRS from Thursday, April 15, 2021, to Monday, May 17, 2021. No interest, penalties, or […]