Good news for clients taking monthly Social Security retirement benefits! Next year, starting in January 2023, the Social Security Administration says you’ll receive an 8.7% cost-of-living benefit increase, or more than $140 per month for the average Social Security recipient, to help offset the effects of inflation. That will be the biggest cost of living […]
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Expert Medicare Guidance Now Available To Mercer Advisor Clients
If you are age 64½ or over, you know how important good health care can be. The optimal Medicare coverage can save you time, money, and enhance your overall wellbeing. But did you know there are thousands of Medicare plans out there? This can make it very challenging for most people to select the plan […]
Ask Mari: Will IRA Required Minimum Withdrawals Be Waived In 2022?
Here’s a question we received from Carol, one of our blog readers. Great question, Carol! It’s one that many other people are undoubtedly asking in light of widespread market volatility: Carol’s Question: “Since the market has dropped so much this year (and therefore the value of my IRA), will there be a suspension of RMDs? […]
Quote Of The Week: How High Will Your Medical Expenses Be In Retirement?
“Too many Americans think that once you are on Medicare everything is free, but that’s not the case.” Hope Manion, Senior Vice President, Fidelity Workplace Consulting, as interviewed by Andrew Welsch, Barron’s, Here’s How Much You Can Expect to Spend on Healthcare in Retirement, May 17, 2022. The Takeaway: For over 21 years, Fidelity has researched what […]
Many Retirees Are Spending More Than Expected. Should You Be Worried?
To help guide you on your retirement journey, we stay on top of all the latest research on retirement saving and spending. For years, we have been advising our retirement clients to adopt realistic spending assumptions reflecting what they’ll really need to cover their expenses – and realize their dreams – in retirement. In the […]
Record Number Of Floridians Starting New Businesses
The trend toward self-employment and away from working for someone else, part of the so-called ‘Great Resignation,’ was very strong in 2021. In the Sunshine State, Floridians set new records in 2021 for opening new businesses, filing 683,680 new business applications, the highest of all 50 states. Small businesses are very important for the economy. They […]
Want To Save On Taxes? Make Time To Fund Your 2021 IRA Before It’s Too Late
We’re getting closer to the April 18, 2022 deadline for filing your 2021 taxes and funding your IRAs or Roth IRAs for 2021 (that’s last year). The maximum amount you can contribute to your IRA for 2021 is $6,000 or 100% of taxable compensation ($7,000 if you turned 50 by the end of last year). That’s the same […]
Take A Deep Breath. Market Pullbacks Are Normal
The markets have gotten off to a rough start in 2022, giving investors the equivalent of a nasty New Year’s Eve hangover. So perhaps this is a good time to remind everyone that market pullbacks are normal occurrences, taking place about once per year on average. Nonetheless, absolutely no one enjoys the stress and anxiety they can create. It’s […]
Ask Mari: Why Aren’t My RMDs Going Down In 2022?
Question: I thought retirement account RMDs (Required Minimum Distributions) were going down in 2022 thanks to a new and more favorable RMD table. But when I looked at my 2022 RMD required withdrawal amount, I saw it is higher than last year’s. What’s up with that? Answer: You’re not imagining things. Yes, the RMD calculations […]
How COVID Has Changed Our Retirement Plans
It’s the beginning of a new year, and our third living with the COVID-19 pandemic. It’s hard to look beyond lockdowns, #WFH challenges, and PCR tests, but when Kiplinger magazine – in collaboration with wealth management firm Personal Capital – surveyed retirees and near-retirees about the pandemic a few months ago, they found that Americans […]
About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ has helped hundreds of individuals and families build wealth and plan for a more secure financial future for over 30 years. Her advice has appeared in publications such as Wall Street Journal, Kiplinger’s, Money Magazine, Business Week, and CBS MarketWatch.
