Each year, Social Security benefits may increase with a cost-of-living adjustment (COLA), but higher Medicare premiums can reduce how much of that raise reaches your monthly budget. Since both are calculated differently, they do not necessarily move at the same rate. Comparing the dollar value of your COLA with changes…
If you’re 65 with $900,000 and no pension, the income your portfolio can provide depends on how much you withdraw and the number of years your savings need to last. Taking too large a withdrawal early in retirement could increase the risk of running short later, while spending too little…
At age 45, skipping your 401(k) match means giving up more than your employer’s contribution. You also lose the potential investment growth this money could earn over the next 20 years. Depending on the size of the match and the investment-return assumptions used, that could leave you with almost $115,000…
Home improvements can make your home more comfortable, raise its value and lower energy costs over time. Some projects may also qualify for tax credits or deductions. These tax breaks can reduce what you owe when you file your taxes. In other cases, the cost of improvements can increase your…
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Major changes to federal student loan repayment rules went into effect this month and are rippling across the system. Many…
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How Does Medical Debt Happen? Some health costs don’t fit into a monthly budget. A major dental procedure or a new health problem can be hard to plan for. It’s common to end up financing the gap, whether that’s a clinic’s own payment plan, a…
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By Carmen Chan You’ve got your mortgage and car loan to pay, credit card bills and HELOC payments, and a running list of…
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Team Name: Musgrave Dunn & AssociatesFirm: Merrill Wealth ManagementSenior Members: Travis Musgrave, Timothy Dunn, Valerie MarshallLocation: Lexington, KYTeam Custodied Assets: $1.4 billionBackground: Travis…
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Are you sick and tired of being sick and tired? When you’re deep in debt, you’d do anything to speed up the payoff process. And if you’re working on your student loans, we understand how you feel! You’d probably like to know something you can do today to get your…
So are you buying or selling a house, but feeling lost in the real estate lingo circling around you? Sometimes it feels like you’re hearing a bizarre, unknown language. We get it! That’s why we’ve put together this handy list of real estate terms. Now you can feel confident about…
If your mind feels like it’s on a freakin’ train ride, you’re not alone. We’re all living through this crazy out-of-control pandemic for the first time together (but also totally alone) and it’s making us feel intense emotions. But when fear, anxiety, sadness, loneliness, and anger pop up in your…
Health care is expensive. And the price never seems to stop rising! That’s why some people avoid it altogether. But skipping health insurance is like white-water rafting without a life jacket. The sun and the spray might feel nice for a while, but when you go overboard, it’ll be tough…
Whether you’re going through medical issues, a job loss, a family emergency, or any other curve ball life throws your way, it can be hard to know how to financially get through it. But don’t worry. We’re breaking down what you should and shouldn’t do with your money during a…
Pop quiz! Know what reading glasses, thermometers, a midwife and an ambulance all have in common? If you guessed that they’re all qualified medical expenses (QMEs) through a health savings account (HSA), then you’re a winner! That’s right, everything from hearing aids to your visit to the chiropractor can be…
Let’s face it: Navigating the ins and outs of health insurance and paying for medical expenses can be confusing and complicated. And these days, there’s yet another decision a lot of folks have to make: choosing between a health reimbursement arrangement (HRA) and a Health Savings Account (HSA). If you’re…
Lately the world has felt scary and weird. It’s easy to freak out over the possibility of you or a loved one getting sick, having to pause your debt-crushing goals, losing your job, or the economy crashing. We get it. It’s normal in times of uncertainty to feel fear.…
If you’ve been thinking about your financial health, or if you realize it’s finally time to put on your grown-up pants and take your money seriously, I want to help you get financially healthy. The good news is, it doesn’t matter what your money situation looks like right now. Anyone…
Ah—so you finally have some downtime on the calendar. And hey, there’s nothing wrong with listening to a good podcast, reading a book, or trying out some guided meditation. But the next time you flip on Netflix to zone out and binge the latest reality show, pause for a second.…
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