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[Book] Tom Hegna's Guide To Social Security & Medicare: Income Maximization Strategies Maximize your Social Security Benefits! Learn the useful advice, tips, and websites you can use to increase your lifetime income from the Social Security Administration.

Will the Social Security 'tax torpedo' blow up your retirement? Retirees must manage Social Security income well to avoid the "tax torpedo," which depends on how much other income you have.

Financial Fact Friday: A full spread of Medicare coverage can cost more than $3,900 a year.

However a study found 44% of men over 65 and 58% of women of the same age require some form of long-term care, which is not covered by Medicare. According to the Federal Long Term Care Insurance Program, the average cost for an assisted living facility is $47,064 per year, while around-the-clock care in a semiprivate room at a nursing home runs approximately $91,615.
(Center for Retirement Research at Boston College)

We have created this Web site to help you gain a better understanding of the financial concepts behind insurance, investing, retirement, estate planning, and wealth preservation.

Hebeler Financial, Inc. We’re here to help educate you about the basic concepts of financial management; to help you learn more about who we are; and to give you fast, easy access to market performance data. We hope you take advantage of this resource and visit us often. Be sure to add our site to your list of "favorites" ...

Fact or Fiction: Working until at least 70 should become the norm by 2050

FACT: Well, it's a realistic projection. The average retirement age is currently 65 for men in advanced economies and 63 for women. Here's the problem: People are living longer than ever, but the average retirement age has remained static. Pension funds have been unable to keep pace. It's a trend that will only accelerate: Babies born today in many advanced economies can expect to live past 100.
(CNN Money)

You might aface income shortfalls if health issues force you out of the workforce. Among U.S. retirees in this survey, 61 percent said they retired sooner than planned — and 31 percent did so due to poor health. An early exit could mean missed opportunities for savings (and to take advantage of catch-up contributions), a need to stretch retirement savings over a longer time frame, and fewer chances to work in retirement (if that was part of the plan).

LINK:

https://goo.gl/7aXYr4

Unhealthy habits could destroy your retirement Nearly nine in 10 workers worry about their health as they age. Yet few are taking steps to be healthier, which could be costly in retirement.

Wealth Wednesday Tip #29: Strategically using a health savings account may help avoid taking from your retirement fund.

HSAs let workers make tax-deductible contributions, which can be invested and grow tax-free. They can also be withdrawn tax-free for qualified medical expenses. Nearly two-thirds of workers say they are contributing less to their 401(k) plans because of rising health-care costs, according to a new survey.
(Bank of America)

Featured Article:

"Long-Term Care is an important topic you should discuss with your family and Financial Advisor. It covers all long term care costs including those not covered by health insurance or Medicare."

Maximize Deductions For Long Term Care Individuals who are unable to achieve daily activities such as dressing, eating, toileting and transferring,...

These examples illustrate the type of analyses that older workers can use to decide when to retire. And they illustrate the power of delaying retirement. However, the results depend highly on individual facts and circumstances.

The retirement question you need to answer This decision is key, complex and deserves much careful thought -- good thing help is available

Planning ahead is the key to making retirement possible.

Are you ready? We are here for you.

Financial Fact Friday: 76% believe that addressing the national debt will cause the government to cut its spending on the elderly (Social Security, healthcare).

This seems likely. The federal government is quite capable of kicking the national-debt can further down the road, and there’s also the modest possibility that Washington adopts more of a European mindset and raises taxes, to pay down the national debt while still maintaining retiree benefits. But overall, that seems about the correct percentage.
(Morningstar)

Who are Hebeler Financial?

Hebeler Financial, Inc. We’re here to help educate you about the basic concepts of financial management; to help you learn more about who we are; and to give you fast, easy access to market performance data. We hope you take advantage of this resource and visit us often. Be sure to add our site to your list of "favorites" ...

Fact or Fiction: 82% believe that future retirees will need to spend more on healthcare costs than do today’s seniors.

FACT! Medical inflation continues to increase faster than the Consumer Price Index, and Washington is quite unlikely to repeal and replace the Affordable Care Act with a bill that spends more government monies, and which cuts retirees' direct costs. Expecting lower future healthcare expenses would be the triumph of hope over experience.
(Morningstar)

"...But when they [Retirees] start taking distributions from those accounts in retirement, it’s taxed as ordinary income, just like a paycheck. ...And retirees are often surprised to see the effect those taxes can have on their bottom line."

Uncle Sam Can't Wait to Throw You A Retirement Surprise Party Preparing now can help avoid high taxes on your 401(k) savings later.

Wealth Wednesday Tip #70: Your age to retire is based more on how well you have prepared for retirement.

The average response from retirees recently surveyed was 61 years old. This answer is both wrong and right. If the goal is to have all Americans enjoy a secure retirement, that age is insufficient. Most workers won’t save what they need before Social Security payments even begin. On the other hand, given that a large minority of people won’t be able to work during their sixties, even if they so desired, the response is realistic. Today, the average retirement age is 63. Despite some speculation to the contrary, things probably won’t change much in the future.

"One smart idea is to consider living more frugally during your first few years, and this can help you to stretch your funds for a longer period of time. Remember that funds that you do not take out of your account immediately will have more time to grow over the years."

Are You Ready For 7 Saturday's?You May Spend More In Retirement! One of the most significant problems with most people's retirement plans is that they do not account for changes in spending levels over the years. Most retirees will likely plan for inflationary adjustments, but is it really reasonable to think that your inflation-adjusted costs for property taxes,...

"...your retirement satisfaction can be great regardless of income. That said, well-maintained retirement savings can help you manage the rising costs of living, cover health-related expenses, and provide more lifestyle choices."

Americans aren't loving retirement like they used to -- here's why Happiness in retirement can seem elusive. Wealth is important, but it won't sustain long-term satisfaction. This study provides insight into how you can leave the workforce on a strong note.

If WHEN is now for you, we are ready to answer your questions.

51% of workers admit that they don't factor retirement into their long-term financial goals. These findings are consistent with data from the Economic Policy Institute, which finds that almost 50% of Americans have absolutely no money saved for retirement.

Even if you have saved, having a proper plan in place can make a difference between a successful retirement and a retirement that is filled with concern.
(Country)

We are here to help educate you about the basic concepts of financial management; to help you learn more about who we are; and to give you fast, easy access to market performance data.

Hebeler Financial, Inc. We hope you take advantage of this resource and visit us often. Be sure to add our site to your list of & quote...

Fact or Fiction: There are challenges managing finances after the death of a spouse.

FACT: The loss of a spouse can create financial challenges for the surviving wife or husband, particularly if that person was not used to managing the finances. Some people who had taken out reverse mortgages also had trouble staying in their homes if the agreement was in the deceased spouse’s name. Some people may need to seek the guidance of a financial professional who can help them rework their strategy.
(Washington Post)

Marriage can make life easier, but not when it comes to Social Security.

How married couples can maximize their Social Security benefits Filing for retirement benefits is not as simple as waiting as long as possible to claim. Understand the trade-offs for you and your spouse.

Retiring individuals and couples must explore other options to fund their lifestyle and to pay their bills.

Plan To Retire? Build Your Own Pension! When preparing for retirement, your primary objective is to set up income streams that you can rely on to pay for your monthly expenses when you are no longer working. Social Security income unfortunately is woefully inadequate for meeting these needs, and most people need to find other sources of ....

Americans die with an average debt of $62,000. Here are some ways to manage that debt before it's too late. 69% of adults admitted to having less than $1,000 in the bank, while 34% said they actually don't have any savings at all.

Almost half of Americans die nearly broke Dying nearly broke isn't just a matter of denying one's beneficiaries an inheritance. Rather, it points to a frightening degree of financial vulnerability during retirement.

Do you feel like you could have planned differently?

Get a second opinion on your current retirement plan. Be confident with your future.

Financial Fact Friday: 93 percent of retirees recently surveyed stated that spending time with family was important for a successful retirement.

92 percent stated that relaxing was an important factor, and 80 percent stated that having the time to travel was crucial to a successful retirement plan. In short, the vast majority of Americans still want to spend retirement relaxing with family and traveling. A retirement plan that does not provide resources to pay for those activities really does not meet their definition of a successful retirement. So, make sure your retirement plan allocates funding for travel and relaxation.

We are a financial firm committed to helping people pursue their financial goals. We offer a wide range of financial products and services to individuals and business owners.

Hebeler Financial, Inc. June 05, 2017 @ 10:00 AM