Archive - 2021

1
Medicare Open Enrollment for 2022 Begins October 15
2
Financial Abuse Affects Teens
3
How to Check Your Social Security Benefits
4
Tax Proposals in Congress Not as Bad as Feared
5
Financial Planning is Both Defense and Offense

Medicare Open Enrollment for 2022 Begins October 15

Medicare beneficiaries can make new choices and pick plans that work best for them during the annual Medicare Open Enrollment Period. Each year, Medicare plan costs and coverage typically change. In addition, your health-care needs may have changed over the past year. The Open Enrollment Period — which begins on October 15 and runs through December 7 — is your opportunity to switch your current Medicare health and prescription drug plans to ones that better suit your needs. During this period, you can:
  • Switch from Original Medicare to a Medicare Advantage Plan
  • Switch from a Medicare Advantage Plan to Original
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Financial Abuse Affects Teens

This post discusses the sensitive topic of domestic violence. October is National Domestic Violence Awareness Month. Domestic violence can take different forms and show up in different populations. One of these populations is teenagers. On the eve of the start of October, CNBC published ” Nearly one-third of tees relationships show sings of financial abuse study finds“. Some examples of financial abuse in teen relationships are:
  • stopping someone from going to school or work
  • directing someone how to spend (or not spend) their money
  • pressuring someone to lend money
  • using gifts or money to control behavior
The study mentioned… Read More

How to Check Your Social Security Benefits

A reader of this blog recently suggested that it might be helpful to include an article on how to check up on your Social Security benefits. Long ago, we used to receive a paper statement of Social Security benefits in the mail each year, but that has changed. Now, you might receive a mailed paper statement right around your 60th birthday, but it’s very simple to check your benefits at any time via Social Security’s website.

It’s quite simple to check out your up-to-date information in the Social Security system – at least the retirement estimates. Simply go to the …

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Tax Proposals in Congress Not as Bad as Feared

The latest tax bill advanced in Congress is notable in its absence of provisions that were expected to be “game changers” (see below). And that’s a good thing for taxpayers.

On Saturday, September 25, 2021, the Congressional House Budget Committee voted to advance a $3.5 trillion spending package to the House floor for debate. The House Ways and Means Committee and the Joint Committee on Taxation had previously released summaries of proposed tax changes intended to help fund the spending package. Many of these provisions focus specifically on businesses and high-income households.

Expect these proposals to be modified; some will …

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Financial Planning is Both Defense and Offense

Are you concerned about your family’s future in light of so much uncertainty? While we have been dealing with COVID-19 for a while now and have adapted in some ways, the virus has also adapted, so we cannot be sure about what is ahead. As the saying goes, ‘the best defense is a good offense”.

Yahoo! Finance offers “8 tactics to defend your family finances from whatever comes next“. The tips range from things you can do to lower daily expenses to loan refinancing and getting additional insurance.

Look at how your budget “leaks” money on a regular …

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