None of us plan to become disabled. On the contrary, most people fail to plan for even the possibility of becoming disabled at some point in their lifetime. The reality is, however, that disability can strike anyone at any time. While your odds of becoming disabled do increase as you age, a surprising number of people in their working years (21 to 65) are disabled. If you find yourself unable to work because of a long-term disability one of your first concerns will undoubtedly be providing for … [Read more...]
How Much Can You Expect in Social Security Retirement Benefits?
There was a time in America when a worker could depend on Social Security retirement benefits to cover the basic costs of living during his/her retirement years. Those days are long gone. In fact, experts are worried that workers in their 20s and 30s may not even get any Social Security retirement benefits if something isn’t done to correct the system before they reach retirement age. If you are nearing retirement age now, however, you likely want to know how much you can expect in Social … [Read more...]
Aging Is A Journey, Plan Carefully
When you decide that you would like to go on a trip you are generally going to invest a good bit of time making preparations. Of course you want to identify your destination, and you will probably develop an itinerary. And if you are like a lot of people, you will consider all the contingencies that may arise and make sure that you are prepared to handle them. Life itself can be viewed as a journey, and along these lines it is important to make preparations for all the eventualities of aging. … [Read more...]
What Is Medicaid?
Unfortunately, many Americans are without much needed health care coverage. As a result, people often cannot afford preventative health care or treatment for serious medical conditions. If you are without health care coverage, the Medicaid program may be an option. Most people have heard of the Medicaid program, but many do not know how the program is administered, what it covers and how you may qualify. Medicaid is a program that is funded by the federal government; however, the program is … [Read more...]
Social Security, Medicare, Medicaid, & Budget Cuts
Retirement planning involves looking ahead and making projections based on the information that is available you in the present. Of course this is an ongoing process and as new information becomes available adjustments are inevitably going to be necessary. There are a lot of things that are out of our control, and the financial meltdown that took place in 2008 certainly demonstrated to all of us that changes can come down the pike in a hurry. But it would seem on the surface as though one thing … [Read more...]
Interest-Free “Loans” Via Social Security No Longer Available
Working people of all ages know that Social Security exists because you can't help but notice the huge bite that it takes out of your paycheck every couple of weeks. But as your retirement years start to come into clearer focus Social Security becomes much more immediately relevant. While it is true that few people are going to be able to enjoy a robust retirement on Social Security alone it can certainly give you a boost. Most people are aware of the fact that the amount that you receive is … [Read more...]
McClellan: Medicaid won’t pay bills for man whose widow had IRA
Upon reading the following article, I decided to write Bill McClellan. The message to Mr. McClellan appears below. http://www.stltoday.com/news/local/columns/bill-mcclellan/article_7be7b2e2-5a78-5b4b-a56e-1141414b6b3c.html Mr. McClellan: I read your article entitled, “McClellan: Medicaid won't pay bills for man whose widow had IRA”, and I wanted to pass on the following thoughts: I am an attorney for the St. Louis County law firm, Purcell & Amen, L.L.C. We focus our practice on … [Read more...]
When is the Right Time to Collect Social Security?
Deciding when you should collect Social Security isn’t always as clear cut as you might think. Quite the contrary, there are several factors that should come into play. For starters, you’ll need to have enough work credits to receive benefits and of course, be of a certain age to even apply. The “work credits” are earned throughout your life and represent the Social Security premiums you paid in while you were working. If you were born during or after 1929, you’ll need at least forty credits … [Read more...]
