Retirement

The Inflation Reduction Act is having quite an impact on 2025 Part D prescription drug coverage. One initiative, the Medicare Prescription Payment Plan, is similar to an installment payment plan. This allows a drug plan enrollee to spread costs out over the year. You can find examples relevant to you in the Medicare Plan Finder.

Spousal benefits are commonly called family benefits; benefits available to family members. Let’s start with spousal benefits in order to truly understand ex-spousal benefits. Current spouses are eligible to receive 50% of their spouses Primary Insurance Amount at their full retirement age. For spousal benefits to be available to a current spouse, you need to

This year, California took the second of two steps to allow residents with unlimited assets to participate in its Medicaid long-term services and supports (LTSS) program. Advocates hoped the move would make the program far more widely available. Conservative critics feared it would become a budget-busting open door for the wealthy to take advantage of

Having the option to take an early retirement is a really nice thing to have. But how much money do you need to retire at 55? If you want to retire early, you’ll need a solid plan, control over your expenses, and savings outside of retirement accounts. Here’s how to find out if you can

After retirement, people have self-reported that they miss the people more than the position or money. Not only are they more limited in social interaction, but as we get older our circle of friends naturally shrinks because of deaths, moves, or lack of effort. In this Forbes article, I describe the loneliness epidemic and the

Many financial advisors and economists with in-depth knowledge of Social Security recommend that people delay claiming their retirement benefits for as long as possible, preferably until age 70 when benefits are maximized. But only 10% of pre-retirees intend to wait until age 70 to claim the maximum monthly benefit. A significant majority won’t even wait

Some of the most profound truths are those, once revealed, that seem self-evident. And that may also be the most potent gift possessed by the greatest writers and thinkers—the ability to reveal something we already know with such clarity that we can act on it. One of my favorite contemporary thinkers, Shane Parrish, recently shared

It’s Medicare Open Enrollment Period. As I wrote earlier, Open Enrollment this year is unusually important because of significant changes in Medicare Advantage and Part D prescription drug plans. Medicare is complicated, and most people have numerous options. The big changes this year make it especially important to seek help in evaluating the choices. I

Most of us recognize that legal means exist to assume control over an aging parent’s finances when their health declines. We use a legal document called a Durable Power of Attorney for that, so the aging parent will appoint someone to manage money if they become impaired. But that can quickly become a problem. One

If you’re approaching retirement or have recently retired, it’s only natural that you’re looking forward to your newfound freedom. You might be planning to travel, pursuing your hobbies and interests, and reconnecting with relatives and friends. Welcome to the “go-go” phase of retirement when you’re still active and vital and you have the energy to