It’s not surprising that a survey last year by T. Rowe Price found that healthcare costs are the biggest financial worry among retirees, especially for women who may be going through retirement on their own.
Many individuals and couples have enjoyed the lower tax brackets brought about by the Tax Cuts and Jobs Act (TCJA). However, the current tax brackets are expected to change at the end of 2025 when the TCJA sunsets. Are you prepared for this?
With this summary guide, you can quickly navigate the upcoming tax changes that will take place at the end of 2025 and start having conversations with your tax advisor or financial advisor about how your tax planning needs might change. This summary guide covers some key comparisons of the TCJA and Post-TCJA tax numbers, such as:
Keeping track of one’s beneficiaries isn’t always an easy task. Relationships change over the years, and individuals often forget to review their beneficiaries in light of new planning goals. Furthermore, many individuals aren’t aware that their current beneficiary setup may not be as equitable or efficient as they had intended.
There are lots of important numbers that you need to keep in mind when planning for retirement. In some cases, those numbers are annual limits that change each year. Other times, the figures do not often change, but are used frequently. Given the variety of sources that report relevant numbers, it can be difficult to quickly find the right reference when you need it.
Are you ready for Medicare's open enrollment? Here are a few changes you can make to your health coverage during this time.