Safer investments for earning high yields

By Elliot Raphaelson
Posted on October 27, 2023

Because the Federal Reserve has been increasing interest rates, there are many conservative alternatives available for investors now who want to take advantage of high returns with minimum risks. Here are some of the alternatives available to you and the associated tax issues: Certificates of deposit The returns associated with certificates of deposit (CDs) are much higher than they were... READ MORE

How to reduce taxes on Social Security

By Liz Weston
Posted on October 17, 2023

Social Security benefits were once tax-free. That changed in 1983, when Congress decided to tax a portion of benefits for the highest-income recipients. Back then, fewer than 10% of beneficiaries were affected. However, lawmakers failed to update the law to account for inflation, so today most Social Security beneficiaries have to pay federal income tax on at least some of their... READ MORE

How investors can get on AI bandwagon

By Tom Taulli
Posted on October 13, 2023

AI investing has been the megatrend in 2023 — Goldman Sachs economists expect “AI investment could grow rapidly in the next couple of years, approaching $100 billion in the U.S. and $200 billion globally in today’s dollars by 2025.” There’s good reason for the bullishness. Goldman Sachs economists believe generative artificial intelligence will boost global labor productivity... READ MORE

Selecting or changing a Medicare plan

By Elliot Raphaelson
Posted on October 05, 2023

[Ed. Note: The annual Medicare open enrollment period, during which all beneficiaries can change Medicare plans and drug coverage, runs from October 15 through December 7. This article addresses how to first sign up for Medicare as well as sources to help existing Medicare beneficiaries make changes.] Selecting a Medicare plan is complex. I will discuss some of the important factors and... READ MORE

Red flags in cryptocurrency investments

By Walter Houser
Posted on September 28, 2023

A retired teacher was concerned that his savings might not cover his retirement living costs and rising medical bills. One day, while browsing the internet, the teacher, who we’ll call Henry, stumbled upon an article about cryptocurrencies. Intrigued, he came across a particular cryptocurrency we will call “BitGem” that promised incredible returns on investment. The BitGem... READ MORE

We’re all vulnerable to financial scams

By Kimberly Palmer
Posted on September 22, 2023

One of the biggest mistakes you can make when it comes to protecting yourself from financial scams is thinking you’re too smart to be duped by one. “We can all fall for a scam, given the right set of circumstances,” said Eva Velasquez, president and CEO of the Identity Theft Resource Center, a nonprofit organization that provides advice and assistance related to identity theft.... READ MORE

Don’t let credit scores retire when you do

By Liz Weston
Posted on September 21, 2023

Getting rid of debt before retirement is often a good idea. Getting rid of your credit scores? Not so much. People who stop using credit also stop generating enough data to produce credit scores, the three-digit numbers used to gauge creditworthiness. Not having scores can make it harder and more expensive to get loans. Even if you’re sure you’ll never borrow again, lacking credit ... READ MORE

Traditional IRAs are an IOU to the IRS

By Elliot Raphaelson
Posted on September 14, 2023

“IRAs are now an awful, terrible asset to use for wealth transfer and estate planning.” That was the message that IRA expert Ed Slott ( recently delivered at the Retirement Income Summit sponsored by InvestmentNews. He was referring to traditional IRAs. It’s true mostly because all withdrawals from traditional IRAs are subject to ordinary income tax. [Ed. You don’t ... READ MORE

Steps to take if hit with a big medical bill

By Tom Murphy
Posted on September 08, 2023

An enormous medical bill can trigger a wave of panic, but that startling invoice that arrived in the mail may not be what you wind up paying. Errors or slow insurance payments may have inflated the total. Even if it’s accurate, financial aid or other assistance can help. Sometimes a simple phone call clears up a problem. Other times, reinforcements are necessary. Debt experts say ... READ MORE

What’s concierge medicine? Is it worth it?

By Kate Ashford
Posted on August 31, 2023

My primary care doctor recently left her practice and invited me to join her at her new gig — a concierge medicine group. There, for a membership fee, I’d have better and more personal access to her services, including same-day appointments and long conversations. Concierge medicine — a model in which patients pay a membership fee for a more direct relationship with a primary care... READ MORE