As we near the end of the year, seniors in the United States need to focus on open enrollment for Medicare coverage. The open enrollment period for Medicare runs from October 15th to December 7th every year, and this is your chance to make changes to your Medicare coverage for the upcoming year. In this […]
I recently received a question from a lady who was curious about whether her 87-year-old mother-in-law qualifies for a property tax exemption. Regrettably, this means her mother-in-law missed the chance to potentially save hundreds or even thousands of dollars over the past twenty-two years. According to information available on the State of Alabama’s website, “If […]
Disability insurance is a vital component of financial planning and risk management, but it’s often misunderstood and overlooked. While Social Security disability benefits provide a form of disability insurance, it’s essential to understand that there are many types of personally owned disability insurance available. Consider this: the Social Security Administration estimates that one in four […]
In the past year, there has been a lot of discussion about the rising costs of in-home construction. This has made homeowners realize the importance of reviewing and potentially updating their homeowner’s insurance to ensure they have sufficient coverage. However, there is another tool that is equally significant but less talked about for those looking […]
Most people understand why life insurance is important to their finances – it shifts the financial risk of premature death from the policyholder to the insurance company. However, many people do not understand the types of policies and the protection they provide. So, let’s break it down by looking at two common types: group term […]
How Much do I Need? Determining the right amount of life insurance coverage can be a daunting task, as there are varying opinions on how much coverage is needed. Some professionals suggest 8x your annual income, while others recommend 12x, or even 20x. The maximum coverage life insurance companies usually offer is around 25x your […]
Fidelity Investments has created a set of guidelines to help individuals benchmark their savings progress at different ages throughout their careers. Although the guidelines are broad and individual circumstances may differ, they provide useful markers for tracking one’s savings goals over time. The guidelines are based on your current annual income and are as follows: […]
F&G Annuities & Life, Inc. surveyed more than 2,000 pre-retirees and retirees to understand their perception of retirement. Surprisingly, the survey revealed that over 50% of participants decided to postpone retirement or planned to ‘un-retire.’ Many may assume that the primary reason for this is the need for financial support to fund the retirement lifestyle. […]
Life insurance is an important piece of financial planning basics, particularly for those who are working towards financial security and independence. Whether you are not quite sure what life insurance is, or you are just curious and want to learn more, the topics below may help you better understand life insurance and how it can […]
The Federal Reserve Bank of New York recently published the 2nd quarter Household Debt and Credit Report. For the fifth straight quarter, the report shows an increase in the use of Home Equity Lines of Credit (HELOC). The rise in usage could be the result of consumers feeling more pressure from high inflation and already […]