Among the best stories from Retirement Daily for Feb. 25 - March 1: How to make the most of Medicare; alimony and tax deductions; and estate planning tips.
While retired people can spend a lot of time and money on healthcare, they have access to one of the best health insurance plans around: Medicare. So says Ken Waltzer, who is both a physician and a financial adviser. In his guest column, How to Make the Most of Medicare, he does a terrific job of explaining what Medicare is, how it works, what it costs, what it does - and does not - cover. Most important, he offers ways to protect your health and your finances.
And in case you missed them, here are some more of this week's best stories from Retirement Daily.
This reader has a dilemma. Their financial adviser suggests delaying claiming Social Security. But their tax adviser says they should draw on that before drawing down retirement savings that will be taxed.
Here's the latest in the world of retirement-related news: Retiring to a Holiday Inn, cash-flow analysis, and retirement lessons from former professional athletes.
Under Tax Cuts and Jobs Act of 2017 (TCJA), there are no exceptions (yet) for any alimony to be deductible by the payor or taxable to the recipient, said Bonnie Sewell, a certified financial planner, founder of American Capital Planning and author of Love-Jacked! Divorce Your Spouse, Not Your Dollars.
If you're divorced, perhaps more than once, you can be faced with some unusual decisions with regard to Social Security benefits. This only applies if you were married to someone for at least 10 years, and have remarried (and perhaps divorced again).
The following are new investments that those saving for or living in retirement might consider for their portfolios. This week: a family of long/short ETFs that lets investors profit from upward and downward movement in five trends.
It's one of those things many people put off: writing or updating wills or trusts. It's also one of those things you don't want to put off because it could end up costing your family in the long run. According to a study from Caring.com only 42% of U.S. adults have estate planning documents such as a will or living trust in place.