National Retirement Week (NAFA) Webinar – What your clients don’t know will hurt them.
How does the use of selected Annuities help lower healthcare costs in retirement?
Retirees, in order to receive Social Security must accept Medicare along with having certain premiums and any surcharges automatically deducted from their Social Security benefit.
With Medicare expected to inflate at roughly 2 to 3 times higher than any Social Security COLA retirees need another form of guaranteed income in retirement to offset this loss of income. This is where selected Annuities help reduce healthcare costs.
Why it needs to be an Annuity?
Medicare is means tested: meaning it uses income to determine what you are going to pay in terms of your healthcare, which again is deducted directly from your Social Security benefit and the more income you have the more you are going to pay for your health and your wallet.Read more
Jester Financial announces partnership with Williams Financial Group to offer benefits to its advisors through its Partner Development program
FOR IMMEDIATE RELEASE: April 7, 2014
“Jester Financial announces partnership with Williams Financial Group to offer benefits to its advisors through its Partner Development program.”
Beverly, MA: Jester Financial Technologies announces a new strategic partnership with Williams Financial Group in order to bring software and education to its advisors via its Practice Development program. This will provide Williams Financial Group with access to industry leading education and training regarding the costs of health care in retirement. Williams will also have access to Jesters’ “Scepter” cost projection software that it will be able to offer its advisors.Read more
NAFA announces partnership with Jester Financial Technologies
FOR IMMEDIATE RELEASE: April 3, 2014
“NAFA announces partnership with Jester Financial Technologies to offer expanded benefits to its Premier Partners.”
Washington, DC: The National Association for Fixed Annuities (NAFA) is pleased to announce a new strategic partnership with Jester Financial Technologies in order to bring added value to its members. This joint enterprise will provide NAFA with access to Jester Financial Technologies Scepter software, used to run health care cost illustrations, to be distributed with competitive licensing packages exclusively for NAFA Premier Partners.Read more
Should you plan for the cost of your healthcare – your Social Security benefit may depend on it
- Health, Health Care, Health Insurance, Healthcare, Medicare, Medicare Modernization Act, Retirement, Social Security, Taxes
The common sense answer would, obviously, be of course you should, but when the stats are tallied and the facts shown it would appear that the common sense answer is not being applied at all, and this may wind up costing you more in retirement than just your health.
According to Sun Life’s Flying Blind Survey less than 8% of all Americans have ever planned for the cost of their healthcare and this includes planning for Long-Term Care as well and the problem runs even deeper than just being a line item in your budget.
Why? The answer is simple, your health costs will consume a large portion of your Social Security benefit in retirement thanks to a rule change that automatically deducts certain premiums and any surcharges from your Social Security benefit.Read more
Is Social Security going broke…probably not and you can thank a Baby Boomer
- financial planning, Health Care, Healthcare, Retirement, Social Security, Social Security Broke
There is a lot of conversation in the news lately about Social Security going broke as the Baby Boomers head towards retirement, but, the startlingly reality is that is not.
The logic of Social Security going broke make sense. There is a disproportionate amount of people heading towards retirement, who will be accessing the benefits provided by Social Security while having far fewer people funding the same benefits too.
To complicate matters even further, the trust fund that was created at the onset of Social Security has been depleted over the years by politicians who decided to fund their own pet projects with the money that was deposited in it, instead of letting that money grow.
So, the outlook does appear to be ominous at best especially with too many people taking, not enough people putting in and the government taking whenever possible, but even with all of this happening the rhetoric and the worry may be all for naught and the reason is very simple…your healthcare.Read more
Fidelity Investments’ $220,000 Healthcare Number, is it right
- Annuities, Fidelity, Fidelity Health Care, financial planning, Health Costs, Healthcare Costs, Life Insurance, Market watch, Means Testing, Medicare, MediGap, Part B, Part D, Plan F, Retirement, Social Security
It seems like every spring season there is a new healthcare amount announced by Fidelity Investments for people who are turning 65 during the year and this spring season is only slightly different from the last.
This difference lies in the total cost or the reduction of the overall cost of projected healthcare, which Market Watch, ABC, Kiplinger’s and even Nationwide is also heralding.
For those who are 65 years old today and entering into retirement today they are being told by Fidelity and the financial community to prepare for a total cost of $220,000 for their healthcare in retirement which, just happens to be a reduction from the previous year when Fidelity pegged the total cost at $240,000. (more…)Read more
Is the book 1984 relevant today… unfortunately it is.
Sales of the book “1984”, by George Orwell are on the rise as some people, in 2014, believe that what was written by Mr. Orwell is starting to happen, while some, especially those in certain media circles, are laughing at the fact that others are now buying a copy of the book and obviously the question is: who is right?Read more
I saw this on NBC News last night…a Fair warning about Medicare
- Employee health insurance, financial advisors, financial planning, financial plans, Health, Health Care, Health Insurance, Healthcare, Medicare, Retirement
There is a video making the rounds through an email with the subject header being titled “Fair Warning… I saw this on NBC News last night”.
This email and the video is quickly becoming somewhat of instant phenomenon within the financial planning industry as it touches on how hospitals use the terms “Under Observation” and “In-Patient” and the impact that it may have on finances.Read more
Medicare’s Hold Harmless Act
- 401(k), 403(b), Congress, Dan McGrath, financial planning, Hold Harmless, Income, IRMAA, Medicare, Part A, Part B, Part D, Retirement, Retirement Income
Medicare’s Hold Harmless Act is a provision that states no retiree who enrolls into Social Security and into Medicare can have their Medicare Part B premiums decrease their Social Security benefit in any given year. The Hold Harmless Act was […]Read more
H&R Block “Get your Billion back” is missing the larger lost opportunity: The Medical Expense Deduction or $100 Billion lost
I’m reminded of one of my favorite television shows when I think of the cost of health care in retirement. Jeopardy began in 1964 and the idea has always been to answer a question in the form of a question. So today’s question goes like this: What is the amount of deductions that Americans failed to take advantage of in the year 2011? The answer: What is $100 billion dollars Alex, (referring to host Alex Trebek.)Read more