Two of the biggest concerns for aging baby boomers are longevity risk (i.e., not outliving your money) and rising healthcare costs. Social Security and Medicare are programs that we all pay into and expect to partially address these concerns. Social Security is often a cornerstone of a well thought-out retirement plan. It is adjusted for inflation, is tax-advantaged, will continue as long as you live and is backed by a government promise.
Deciding when to start Social Security benefits is one of the most important decisions aging baby boomers will make. The Social Security Administration www.ssa.gov/ has a wealth of resources available online. And the local office representatives can provide the facts given your own personal circumstances. However, they will not give you advice on when to start taking Social Security. Our firm took a look at the options and summarized the information in a recent blog post on our website www.rockbridgeinvest.com/medicare-etc-cost-emphasis/. While we are not experts on all aspects of Social Security, we can help evaluate your options and provide excellent resources to assist you with making this very important decision.
Retiree healthcare costs are also a major growing concern for baby boomers. Many will delay retiring to age 65 when they become eligible for Medicare health benefits. Our resident expert, Dick Schlote, has been navigating the Medicare maze for the past few years and has agreed to write a series of blog posts on the subject. You can find his first Medicare blog post on our website www.rockbridgeinvest.com/medicare-etc-cost-emphasis/.
Our main job at Rockbridge is to prudently manage our clients’ investment portfolios. We also strive to expand our knowledge in other important areas of financial planning, such as Social Security and Medicare. We continue to develop our website into an excellent resource for our clients and friends of the firm.
Other articles filed under Retirement
February 23, 2018
It’s tax time again and as you gather your W2s, 1099s, and maybe even your K-1s, we thought it would be a good time to explain our income tax planning approach. Income tax planning is a crucial aspect of the...
February 7, 2018
Yesterday evening, Rockbridge's own Ethan Gilbert, CFA was featured on our local Spectrum news network. Check out the interview below where Ethan discusses the recent market shifts, how these swings can affect your retirement accounts, and how to protect your...
January 24, 2018
This past weekend, the New England Patriots did it again. Down 10 in the 4th, star quarterback Tom Brady orchestrated two scoring drives to pull off another comeback victory. In two weekends, the Pats will try to win their 3rd...
January 23, 2018
Stock Markets Returns from various stock market indices over several periods ending December 31, 2017 are shown below. The past quarter was good for stocks – REITs lagged. Over the past year, returns from stock indices, especially emerging markets, were...
January 19, 2018
Happy New Year! Now that 2017 is a wrap, one of the best presents you can bestow on yourself and your loved ones is the gift of proper preparation for the rest of the year. Want to get a jump-start...