For those baby boomers who either close to or have reached the magic age of 70½, this is the time when it is necessary to start withdrawing income from those traditional IRA’s. The problem is that if your traditional IRA has a large amount of money in it, the required minimum distributions (RMD’s) that need to be taken over the course of a year may push you into a higher tax bracket, thus causing you to pay more in taxes to the IRS. There are some steps you can take to protect yourself and prevent this from happening.
Medicare….what is Medicare all about? Some common thoughts are that:
- it is basic health insurance for those over 65
- it is run by the federal agency Dept. of Health and Human Services (HHS)
- it has several parts–Part A, Part B, Part C, and Part D
All of the above are true, but it is a bit more complicated. For those of us who are closer to retirement age, now is the time to find out what you need to know about Medicare so that common mistakes can be avoided and the right choices can be made. Continue reading so you will not be in the dark in regards to how Medicare works. Continue reading
Have you ever been a scam victim? If yes, it does not matter if you lost a few dollars or a lot of dollars, the end result is that you end up feeling angry that con artists have scammed you and you also end up feeling foolish because you actually fell for the scam. If the answer is no, then you are ahead of the game. Find out about some of the most common cons being carried out by scammers online so you can protect yourself from harm for good, or from becoming a scam victim all over again. Continue reading