We recently shared a post about individual retirement accounts and inheritance planning. There has been a new development, and we will share it here to keep you up-to-date. But first, we will provide a review for those that may have missed the related entry. Traditional Individual Retirement Accounts A traditional IRA is funded with after-tax earnings, so you get tax breaks along the way. On the other side of the coin, when you make withdrawals from the account, they are subject to …
Seniors Will Get Social Security COLA Boost
At the end of each year, the Social Security Administration releases updated parameters for the upcoming year. That time is upon us, and they have made the figures available. We will share them in this post, and in the near future, Medicare will follow suit. Come back to visit us, because we will pass that information along as well when it becomes available. Cost of Living Adjustment (COLA) for 2021 Seniors that are receiving Social Security benefits will receive a 1.3 …
How Smithtown Elder Law Attorneys Help You Become More Financially Secure in Retirement
Smithtown elder law attorneys can work with you to make plans for retirement and to make effective use of legal tools that will allow you to be financially secure as a senior. The earlier you make your comprehensive plans for retirement, the more security you will have and the better off you will be. You should give us a call to find out more about the ways in which Mark S. Eghrari & Associates, PLLC can help you to achieve security as a senior with smart financial moves and the …
How Elder Law Attorneys Help You Save for Retirement
If you are not sure whether you are on track for financial security during retirement, you should reach out to an elder law attorney. Many people do not realize that an elder law can provide invaluable help with the retirement planning process so you can make certain that you build and protect a nest egg that you need to enjoy your golden years. Mark S. Eghrari & Associates, PLLC is here and ready to help you with the retirement planning process, with the asset protection planning …
Elder Law Attorneys Can Help You Decide When to Retire
One of the key services that an elder law attorney can provide to you is assistance creating a retirement plan. Many people do not realize the invaluable advice that a retirement planning attorney can provide as you think ahead for your future. Getting help with your retirement plan is vital because so many people have too little savings in the United States, and you don't want to end up not being able to do what you want in your golden years because of a lack of money. By reaching out to an …
How Divorce Could Dertail Your Retirement Plans
Long Island elder law attorneys do more than just help you to plan for what could happen if you get sick or for how to provide for your family after you pass away. An elder law attorney at Mark S. Eghrari & Associates PLLC can also help you to make a comprehensive retirement plan and can assist you with the protection of your assets. There are many threats to your wealth and future financial security. One of the biggest possible risks that you face is the possibility that your finances …
What Tax Breaks Can I Get for Retirement Savings?
A Hauppauge elder law attorney provides assistance in making plans for retirement. Many people aren't aware that an elder law attorney offers help to clients in achieving financial security during their golden years. One of the key types of help that an experienced attorney provides is helping you to jumpstart your retirement savings by taking advantage of retirement tax breaks. These tax breaks can make a big impact on your ability to save for your future, so you should work with an experienced …
Can I Invest in an IRA if I’m Young?
A Smithtown elder law attorney can offer help with making your retirement plan. It is important not to wait until late in your career to begin working with a retirement planning lawyer. Waiting will make it much harder for you to accomplish your retirement planning goals. You will also lose out on the opportunity to take advantage of tax breaks which are available each year during the course of your career. Mark S. Eghrari & Associates PLLC helps you to make smart choices regarding your …
Why Your Credit Cards Shouldn’t Retire When You Do
A Long Island retirement planning lawyer can help you to make plans for financial security during your senior years. There are many issues to consider when planning for your financial life during retirement. It is beneficial to begin making your retirement plan early so you can take advantage of tax breaks that can make saving for your retirement easier. You should also consider the costs of healthcare as a senior, and you should make sure you understand the rules for when and how you can …
How Much Should Seniors Be Saving for Healthcare Costs During Retirement?
Long Island Medicaid planning lawyers provide help to clients in making sure they do not spend their entire life savings because they get sick as a senior. Our legal team works to help you plan ahead to save enough money to live comfortably during your golden years, and we also provide you with advice on how to get your healthcare expenditures covered as you get older. While many people believe they will not have to worry about covering care costs once they qualify for Medicare, this is …
Three Facts That Will Impact Your Retirement Plan
When you envision retirement, you probably think about the spare time that you will have to enjoy all the things that you have been putting on the back burner throughout your working career. As you are devising a retirement plan, you may be thinking about travel, leisure activities, and the things that you will be able to do for your family. This is well and good, and you should certainly do everything possible to prepare yourself for an enjoyable retirement. At the same time, you may not be …
Social Security Administration: No COLA for 2016
If you want to be appropriately prepared for each succeeding stage of life as you craft a meaningful legacy to leave behind to your loved ones, you should act in a fully informed manner every step of the way. We specialize in estate planning and elder law, but these areas are naturally connected to retirement planning and long-term financial planning in general. When it comes to retirement, Social Security will be a major piece to the puzzle for most people. The monthly payout will certainly …
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