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Money Shouldn't Hurt!

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My overriding principle is that, “Money Shouldn’t Hurt”, and if I can help just one person have a better experience with investing, then that makes it all worthwhile. -Tom Wright
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Taxation of Your Social Security Benefits

There is much discussion in the financial advice industry about when a worker should apply for those benefits and how the amount received will be affected by the worker’s age when the benefits start. Suffice it to say that the earliest one can take their benefit is at age 62 and the benefit generally will increase every year one waits until their age 70 when the largest benefit would be available. What does not seem to receive as much attention, however, is the question of whether and how much of the Social Security benefit will be subject to income tax.

Retirement Funding Insights Taxes Financial Planning
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Eight Things You Did Not Know about Medicare

Most of us have paid payroll taxes to support the Medicare program and, again, most of us will likely enroll in Medicare when we reach age 65 or perhaps later if we are still employed at that time. As simple as that sounds, Medicare is a very complex and annoyingly inconsistent program which will require some real attention – by you or an adviser or both – to get it working best for you. As you approach age 65 you will be deluged with offers for both Medicare advantage plans and supplemental or Medigap plans from a variety of health insurers and agents. The lucrative nature of this business is made obvious by the sheer volume of mail, calls and advertisements. This underscores the importance of taking your time so that you may make an informed decision.

Insights Financial Planning Retirement Funding
(804) 591-1657