Medicare Open Enrollment Begins October 15
Submitted by Global Planning on November 15th, 2017What is the Medicare open enrollment period?
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When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated for people who expected to use those strategies to boost their retirement income. Here are some questions and answers that could help if you are wondering how the new rules might affect you. In December 2016, Yahoo announced that data associated with more than 1 billion user accounts had been stolen in 2013. The company believes this was a separate incident from a previously announced theft of data from 500,000 user accounts in 2014.1 Although the sheer number of compromised accounts is staggering, the Yahoo breaches are just two out of many major data breaches discovered in 2016, ranging from dating sites and Internet companies to the IRS and the U.S. Department of Justice.2 On December 14, the Federal Open Market Committee (FOMC) voted unanimously to raise the federal funds rate by 0.25% — to a range of 0.50% to 0.75%. This was the second increase since December 2008, when the benchmark rate was lowered to a near-zero level (0% to 0.25%) during the Great Recession.1 Although the year is drawing to a close, you still have time to review your finances. Pausing to reflect on the financial progress you made in 2016 and identifying adjustments for 2017 can help you start the new year stronger than ever. Every year, the Trustees of the Social Security and Medicare trust funds release reports to Congress on the current financial condition and projected financial outlook of these programs. The 2016 reports, released on June 22, 2016, project a small Social Security cost-of-living adjustment (COLA) and Medicare premium increases for 2017, and discuss ongoing financial challenges. If you're a decade or so away from retirement, you've probably spent at least some time thinking about this major life change. How will you manage the transition? Will you travel, take up a new sport or hobby, or spend more time with friends and family? Should you consider relocating? Will you continue to work in some capacity? Throughout your career, retirement planning will likely be one of the most important components of your overall financial plan. Whether you have just graduated and taken your first job, are starting a family, are enjoying your peak earning years, or are preparing to retire, your employer-sponsored retirement plan can play a key role in your financial strategies.
Five Questions and Answers about New Social Security Claiming Rules
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Digital Deception: Current Trends in Cybercrime
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Rising Rates: The Fed Takes Next Step Toward Normal
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Required Minimum Distributions (RMDs)
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Key Numbers 2017 │ Tax reference numbers at a glance
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