Author: Justin Rush, CFP®

What to do with an Inheritance?

According to a study by Accenture, $30 trillion of financial and non-financial assets is expected to pass from Baby Boomers to Generation X and Generation Y (Millennials) in North America over the next 30 to 40 years. If you’re like me, you have a difficult time trying to understand the magnitude of that number! However, I think we will agree there are significant opportunities and challenges associated with this level of assets being passed fromRead More

The End of File and Suspend

On the surface, it seems too good to be true. You have a married couple, where (let’s say) the husband has earned higher yearly income than his wife. That means he has contributed more to Social Security over his working life. The husband files for Social Security benefits at full retirement age (currently age 66) and then immediately files to suspend those benefits. As a result of this simple maneuver, the wife is now entitled to immediately receive Social SecurityRead More

Budget Deal Lessens Medicare Premium Increases in 2016

A couple of weeks ago, I shared a post outlining the changes we could expect for Social Security and Medicare in 2016. Since that time, Congress passed a government budget deal that includes a provision to lessen the impact of rising Medicare Part B premiums on current Medicare recipients. As a reminder, Medicare Part B covers most health care services outside of hospitals, and thus represents one of the biggest expense items in the government-run health system. The program isRead More

Social Security and Medicare Changes in 2016

You’ve probably heard by now that the 2016 cost of living (COLA) adjustment for Social Security benefits is zero—the third time this has happened in the last seven years.  (2010 and 2011 were the other recent years.)  In fact, Social Security benefit increases have stalled since the Great Recession; only once since 2008 have they risen by more than 2%. For many retirees, this was surprising news.  Anybody who has visited the grocery store latelyRead More

A Practical Approach To Setting Financial Goals

To some, goal-setting may seem like an unnecessary task. Rather than investing time and energy towards setting goals, many people go about life without a well-defined path. What’s wrong with that? After all, if we’re too focused on attaining set goals, we may miss out on an opportunity, right? I believe in remaining open to a new calling, opportunity, or challenge in life. However, I also believe in the importance of goal-setting, related to finances,Read More