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Health Care in Retirement Estimated to Cost $315,000 JRB

WEBBy Mitchell J. Smilowitz, CPA. Fidelity Investments recently released its annual estimate on what retirees can expect to pay for health care in retirement.

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URL: https://www.jrbcj.org/Health_Care_in_Retirement_2022

Medicare Basics JRB

WEBIncreasing the contribution to your JRB retirement account is an effective way to prepare for health care expenses while reducing your current taxes. If you have questions about …

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Health Insurance Subsidies in the American Rescue Plan Act

WEBBy Mitchell J. Smilowitz, CPA. For those purchasing health insurance through a state health insurance exchange or the federal health insurance marketplace, the …

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Powers of Attorney and Advance Medical Directives JRB

WEBBy Mitchell J. Smilowitz, CPA. Research shows that people who have end-of-life legal and medical directives are more likely to get the care they want at the end of their lives.

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Medicare Changes in 2021 JRB

WEBThe Centers for Medicare and Medicaid Services (CMS), the federal agency that manages the Medicare and Medicaid programs, recently announced changes to Medicare …

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Create Your Own Will, Power of Attorney, Healthcare Directive and

WEBHere’s how the interactive tool works. Go to www.willprepservices.com. Register using the code MUTUALWILLS. Complete the Registration Form, set up an account and select …

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YOUR GROUP LONG-TERM DISABILITY BENEFITS

WEB7000gsc-rx-ez page 2 schedule this schedule describes the amountof benefits and certain other requirements and limitations applicable to benefits for disability.

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Financial Milestones – For Those in Their 30s JRB

WEBReview and optimize insurance coverage: Assess your insurance needs and ensure you have adequate coverage. This includes health insurance, life insurance (if you have …

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Social Security Finances Continue to Deteriorate JRB

WEBLong-Term Fixes Remain the Same. By Mitchell J. Smilowitz, CPA. The 2023 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and …

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Financial Milestones – For Those in Their 40’s JRB

WEBBy Mitchell J. Smilowitz, CPA. In your 40's, you probably have new financial responsibilities – mortgage and family. To meet these responsibilities, it is important to focus on your …

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Social Security for Married Couples JRB

WEBAt age 70, Jessie’s benefit will increase to $3,880/month. When Jessie begins collecting Social Security, Jordan’s benefit will jump from $1,000/month to $1,500/month (half of …

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End-of-Year Tax Tips – Deductions JRB

WEBUnreimbursed Medical and Dental Expenses that exceed 7.5% of your Adjusted Gross Income (AGI) can be deducted to reduce your taxes. This includes health insurance …

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Understanding Inflation JRB

WEBBy Mitchell J. Smilowitz, CPA. Inflation has been around forever, but the rate of inflation in most developed economies has been extremely low for the last few decades, about 2% …

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Compounding: The Eighth Wonder of the World JRB

WEBby Mitchell J. Smilowitz, CPA. Retirement is the most expensive purchase you’ll make in your lifetime so it’s crucial that you save enough to afford the 20 to 30 years you’ll likely …

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When Should You Claim Social Security Benefits

WEBYou can begin collecting Social Security retirement benefits as early as age 62, but it will be at a reduced amount. The monthly benefit increases the longer you wait to collect – up …

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7 Year-End Tips for 2018 Taxes JRB

WEBby Mitchell J. Smilowitz, CPA. With the end of the year just more than two months away, this is a good time to review your taxes. These 7 tips will get you started.

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The Market Is Up. What Does It Mean

WEBBy Mitchell J. Smilowitz, CPA. The major stock market indices posted some of the largest one-month increases ever in April. The Dow was up over 11%.

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2021 Investment Outlook: Beyond COVID-19 JRB

WEBBy Mitchell J. Smilowitz, CPA. Despite the pandemic, investment markets performed remarkably well in 2020. The S&P 500 increased 16.3%, the Dow increased 9.7%, and …

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2019 Year End Tax Tips JRB

WEBBy Mitchell J. Smilowitz, CPA. 2019 is the second year of the Tax Cuts and Jobs Act (TCJA), passed in 2017. The law resulted in significant changes to tax rates and …

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How the Debt Ceiling Deal Affects Student Loan Moratorium

WEBBy Mitchell J. Smilowitz, CPA. The debt ceiling deal recently passed by Congress and signed into law by President Biden ends the student loan payment moratorium.

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6 Financial Planning Tips for Millennials (and Everyone Else)

WEBWhen budgeting, consider the 50/30/20 rule: 50% of your take-home pay for necessities such as housing, food and health; 30% for discretionary spending such as restaurants, …

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How Tax Reform Affects You: Reviewing the 2017 Tax Cuts & Jobs …

WEBby Mitchell J. Smilowitz, CPA. The Tax Cuts and Jobs Act (TCJA) of 2017, signed into law on December 22, 2017, makes major changes to the tax code. This article provides an …

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