Inheriting an Individual Retirement Arrangement (IRA) account used to be a straightforward process, but changes in tax laws outlined in the SECURE Act of 2019 have brought some important modifications, especially for “non-spousal” beneficiaries. If you've inherited an IRA or a Roth IRA or you're planning for your beneficiaries, it's crucial to understand the new rules.
Medicare, the federal health insurance program primarily for Americans 65 and older, is a vital lifeline for millions of seniors. It ensures access to essential healthcare services, but it's important to note that it isn't a one-size-fits-all solution. Every year, during Medicare Open Enrollment, beneficiaries have the opportunity to make changes to their coverage to better suit their evolving healthcare needs.
Given the recent headlines around bank failures, now is an excellent time to revisit how your money is protected.
Social Security payments receive an inflation adjustment every year based on the Consumer Price Index (CPI). If inflation continues at current levels over the next 2 months, Social Security recipients will see their monthly check amounts increase by about 9.6% in 2023.
Some important updates to be aware of if you are shopping for a home and intend to take out a mortgage.
“Risk: We don’t know what is going to happen next, but we do know the data set from which the outcome derives. Uncertainty: We don’t know what is going to happen next, and we do not know what the data set or possible distributions looks like.”~ Frank Knight