Nov 14, 2022
By Jeanne Sahadi, CNN Business The IRS recently announced a record increase in contribution limits to 401(k) and other tax-deferred retirement plans for 2023. Starting next year, you will be allowed to contribute up to $22,500 into your 401(k), 403(b), most 457 plans...
Oct 10, 2022
Earlier today, we released our October 2022 newsletter. If you did not receive it by email, please see the below link to open it from our website. Again this month we present three articles, and all three should be of interest to our Elder Care and Estate Planning...
Oct 3, 2022
Seniors who have an income above the Medicaid threshold but lack a high enough income to have substantial personal savings are considered “The Forgotten Middle.” These are elders who are more likely to struggle to afford long-term care that may become necessary as...
Sep 26, 2022
Many seniors find themselves in need of Medicaid to pay for their long-term care but are surprised to learn that their modest monthly income may disqualify them. The reason for this is that Medicaid is a “means-tested” benefit. In other words, you must not have income...
Dec 27, 2021
The Internal Revenue Service (IRS) has announced the amounts taxpayers of different ages can deduct from their 2022 income as a result of buying long-term care insurance, and the deductibility figures are almost the same as in 2021. Many types of medical expenses are...
Nov 1, 2021
All older Americans are vulnerable to financial abuse, but there are certain circumstances that make someone more likely to be scammed. An online survey can help older adults (or their caregivers) assess their risk of being exploited based on how they make financial...