June 2019 - Alpha 1 Tax & Wealth

Monthly Archives: June 2019

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Retirement the Machiavellian Way

When someone says “Machiavellian,” you might think of a lying schemer, a power-hungry politician, or ruthless individual who believes the ends justify the means. But this characterization isn’t quite fair to the political philosopher Niccolo Machiavelli. He gave practical advice to the prince of Florence about how to rule, and was concerned with him being [...]

2019-06-28T14:14:42+00:00June 28th, 2019|Retirement Planning|

A Plan to Help Minimize Your Taxes in Retirement

Your steady source of income might disappear in retirement, but unfortunately your taxes probably won’t. Did you know that up to 85% of your Social Security benefit could be taxed? And, retirement account distributions are taxed differently than investment income. If you’ll have multiple income sources, you should know how each is taxed so that [...]

2019-06-24T23:38:20+00:00June 24th, 2019|Tax Strategies|

Covering Long-Term Care Costs

Some of the major expenses you’ll need to anticipate in retirement are your healthcare costs. There are many choices to make when it comes to choosing a Medicare plan, using an HSA, and qualifying for Medicaid. One healthcare cost that is easy, but possibly detrimental to overlook is long-term care. It’s estimated that 52% of [...]

2019-06-21T20:53:21+00:00June 21st, 2019|Financial Planning, Healthcare|

Are You Ready for Endless Summer?

It’s time to start planning your summer, and whether you’re going to laze around on the beach, visit friends, or take a trip, it’s important to also start thinking about your retirement plan. On average, we spend more time every year planning for vacations than planning for retirement – and retirement is much longer than [...]

2019-06-17T14:09:42+00:00June 17th, 2019|Lifestyle, Retirement Planning|

Social Security’s Decreased Buying Power

Some are worried about the state of Social Security since the latest report found that starting next year, the program’s annual cost will exceed its income. Some speculate that since the program’s trust fund is expected to be depleted by 2034, cuts are inevitable. But, there should be a more immediate worry facing beneficiaries than [...]

2019-06-14T13:13:25+00:00June 14th, 2019|Financial Planning, Social Security|

What is a Phased Retirement Program?

Some look forward to their last day of work, some are disappointed to leave coworkers and a purposeful career, and others are somewhere in between. There are many things to love about retirement, like the freedom to travel, spend time with family and friends, and just wake up whenever you want, but hopefully there are [...]

2019-06-11T00:50:01+00:00June 11th, 2019|Retirement Planning|

Higher HSA Contribution Limits

If you have an HSA or are planning on opening one, you’re in luck: The IRS has announced higher contribution limits for 2020. Starting next year, you can contribute up to $3,550 for individual coverage, or $7,100 for family coverage. And, if you’re 55 or older, you can contribute an additional $1,000 per year. You [...]

2019-06-07T14:06:22+00:00June 7th, 2019|Financial Planning, Healthcare|