As people age, many share similar goals: to remain in their own homes, maintain independence for as long as possible, and rely on family and friends for support only when necessary. This concept of staying in one’s own home throughout the aging process is known as aging in place. However, successfully aging in place requires […]
Should You Move When You Retire or “Age in Place?” Read More »
Although the age to claim Medicare is 65, many senior benefits and discounts begin much earlier. When you turn 50, you can join the AARP or AMAC and start taking advantage of senior discounts. Other reductions have minimum age requirements, which vary by employment or location and might range from 50 to 65 years. Are
Senior Discounts in 2025 Read More »
A record number of Baby Boomers will reach the traditional retirement age this year. By 2030, they will all be at least 65 years old. This creates a fiscal problem, however, because fewer taxable workers ultimately means less money for Social Security. If Congress fails to act, we’ll face a major crisis. Here’s how a demographic shift may
2024’s Record Number of Retirees May Spark a Recession Read More »
Many retirees are concerned that they may outlive their savings, making it hard for them to spend money during retirement. Can you blame them for being scared to spend? Much of the financial world is focused on how woefully unprepared most Americans are for retirement. There’s also much focus placed on a 3%, 4%, or
many Are Scared to Spend Money in Retirement Read More »
Taking out an extra $10,000 from your savings for a new roof may not seem like a big deal at the time. However, costs build up, and plans to cover future expenses may be disrupted. Every penny counts in retirement, so you should create a detailed budget that addresses as many potential issues as possible.
Unexpected Retirement Expenses Read More »
Generation X will begin turning 60 this year, in 2025. There’s a wide range of people in Generation X; typically defined as those born between 1965 and 1980, Gen X includes people with varying financial statuses. However, they all tend to face the same few retirement income pitfalls. If you’re a member of Generation X
Gen Xers and Retirement Read More »
When employees change jobs, their retirement plan accounts may be left behind and eventually forgotten. Fortunately, a new federal database should make it easier to find your lost retirement accounts from previous employers. In May 2021, there were over 24.3 million forgotten 401(k) plan accounts, valued a combined $1.35 trillion. For May 2023, over 29
Recover Your Lost Retirement Account(?) Read More »
You may feel extra stressed and busy during the holidays, especially if you have plans to fly for Christmas or Thanksgiving. The following holiday travel tips may help your holiday abroad go more smoothly, whether you’re going to Christmas markets in Europe or flying within the US to see family or friends. Today, we’ll talk
Holiday Travel Tips Read More »
Traveling in retirement could be your golden ticket to a new level of freedom, with each day bringing new adventures and discoveries. If you’re the type of person who deeply appreciates travel, of course. It provides the ability to discover new places; dedicating a trip to exploring one area rather than skimming the surface of
How Much Do You Want to Travel In Retirement? Read More »
The IRS has recently advised taxpayers to do a tax check-up. This might help you prevent getting unanticipated tax bills in the next year. The agency underlined that many taxpayers would owe taxes if they did not change their withholding or make estimated payments. To enable citizens to match their tax payments to what they
The IRS encourages “End of Summer Tax Checkup” Read More »
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Ryan Brummans, an Investment Advisory Representative (IAR), offers advisory services through Gibbs Wealth Management, an SEC registered investment advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Compass Financial Associates, LLCand Gibbs Wealth Management are independent of each other. Insurance products and services are not offered through GWM but are offered and sold independently by Compass Financial Associates, LLC, MI License #118186, and Ryan Brummans, MI License #0636770.
