Friday October 19, 2018
News
IRA and 401(k) Designated Beneficiary Options
Each year, IRA and 401(k)s are subject to required minimum distributions (RMDs). Because the distributions start at just under 4% at age 71 and then slowly
increase, many IRA and 401(k) plans will continue to grow. While the distributions will eventually become larger, most individuals will eventually pass away
with an IRA or 401(k) balance reasonably close to the value of their plan at age 70.
For this reason, the eventual distribution options for an IRA or 401(k) are quite important. For you and many other...MORE
Social Security Benefits Increase by 2.8% in 2019
The Social Security Administration recently announced the cost-of-living increase for Social Security benefits in 2019. The 2.8% increase is the largest boost in six years. The
cost-of-living increase was 0% in 2016, 0.3% in 2017 and 2% in 2018. Over 67 million Americans receive Social Security and will enjoy an increased check in
January of 2019.
The average 2018 Social Security payment of $1,400 per month will increase by about $39. Social Security recipients with larger payouts will appreciate a
greater increase in the value of their benefits.
Military retirees will also receive a 2.8% cost-of-living increase. Veterans benefits for disability pay and dependents'...MORE
How to Recognize and Prevent Financial Scams
Can you provide some tips on how to protect seniors from financial scams? My 76-year-old aunt was recently swindled out of $25,000 and I want
to make sure my own mother is protected....MORE
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