The IRS has announced that the amount of tax-favored funds that you can sock away for retirement is increasing. In 2025, the amount most individuals can contribute to their 401(k) plans will tick up to $23,500—it was $23,000 for 2024. The announcement is tied to cost‑of‑living adjustments for pension plans…

2025 Medicare Changes Every year there are changes to Medicare Advantage Plans and Social Security. Most years the changes are not dramatic. But this year the change in your Medicare Advantage plan may be dramatic. If you have a Medicare Advantage Plan, do not assume that your plan will remain…

Mortgage rates continued their upward climb this week, leaving demand essentially flat in the stagnant housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.72% from last week’s reading of 6.54%. The average rate on a…

Most economists who had to describe healthy, stable growth would end up largely describing today’s GDP numbers. The economy expanded at an annual inflation-adjusted rate of 2.8% in the third quarter of 2024, after expanding at 3.0% in the previous quarter. Outside of volatile inventory build ups, economic growth actually…

Daughter of elderly mother (EM) called in a bit of a panic. She had just found out that her 80 year old mother, living alone in another state, had been giving thousands and thousands of dollars to a campaign. This was done with recurring donations she had unwittingly signed up…

When’s the last time you made a friend? Not just someone you see at work, or someone who is an acquaintance – a real friend. Someone you can call on and confide in, and who has your best interest at heart, and who can lean on you as well. In…

If you asked 100 people what the purpose of financial planning is, the reflexive answer of the majority would likely be to have more money. And this underlying belief, spoken or not, is likely why financial planning so often results in under-implemented plans and satisfaction levels that score just marginally…

There are significant tax-reduction opportunities available when employer stock is held in a 401(k) plan. The opportunities are more significant now, as are the potential consequences of a suboptimal decision, because prices of many stocks increased significantly in recent years. Yet, many people diminish their benefits by rushing their decisions.…

The whole point of retirement is to improve your life—at least, that’s the case for most people. However, many people assume that if they stop working, their life will somehow magically be better. While not working does give you time and energy to pursue your goals and interests, you’ll need…

Most people at or near retirement age will say they want to remain at home as long as possible. That means not going to a care home of any kind “with all those old people”. It sounds fine when one is 65 or so and in reasonably good health. But…