November - 2017

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NEWS & RESOURCES

How Big Will Your 2018 Social Security Check Be?

The weather is getting cooler as 2017 is drawing near. We can all feel it. If you're like many older Americans on a fixed income, you like to do a little planning ahead. If you're wondering how large your Social Security check will be during 2018, your wait will be over soon. This month you can go on the web and access your Social Security account to view how this year's cost-of-living (COLA) adjustment will affect your monthly check in 2018. You can also pull up a future b

Avoid Tapping Retirement Savings This Holiday Season

If you are like many people, you may easily spend hundreds of dollars or more on holiday gifts and related holiday purchases each year. Some sources indicate that consumers may spend more money over the holiday season this year than they have in previous years. The cost of gifts is only one seasonable expense. For example, you may have plans to host a party, to travel or to decorate the house elaborately. When you are preparing to spend a large sum of money within a short per

Military Unveils New Retirement System

The United States Armed forces will unveil its new retirement planning system January 1, 2018. The new Blended Retirement System, or BRS for short, has so far drawn mixed reviews from those that understand it and puzzled looks by the many that do not. The changes to the system are discussed below and will hopefully bring greater understanding where needed. BRS Overview The concept behind the BRS is the blending of two income sources for retiring personnel. The current system

Are You Planning To Retire In 2018?

We are in the final days of 2017 and for some that means closer than ever to retirement! After working 40-plus years, if not even longer, upcoming retirees should look forward to spending the latter years of their lives doing what they love in retirement. In some situations, being able to earn income following retirement is instrumental in achieving a safe, happy, stress-free post-working life. As the whole point of retiring is to abstain from the day-to-day grind, retirees m

IRS Issues 2018 Inflation-Adjusted Tax Tables

Each fall, the Internal Revenue Service announces adjustments to individual taxes, deductions and credits. The IRS issued these inflation adjustments for 2018 on October 19, 2017. Inflationary pressure remained modest during 2017. As a result, the adjustment amounts are not large. Personal Exemption and Standard Deduction The new personal exemption and standard deduction amounts apply to 2018 income, which must be reported in 2019. The amount of the personal exemption wil

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