Financial Sense Blog

Recent Articles

  • All
  • July 2024
  • June 2024
  • May 2024

Fewer Americans are buying life insurance. Here’s when you might need it

By: Greg Iacurci from CNBC Fewer Americans are buying life insurance than in the past, which suggests households may be at financial risk in the event of an unexpected death, experts said. About half, or 52%, of consumers had a life insurance policy in January 2023, down from 63% in 2011, according to the results of a…

Understanding IRMAA and Why it Really Matters: For those in Medicare, IRMAA can have a big impact on healthcare costs

IRMAA, which stands for Income-Related Monthly Adjustment Amount, is a term that may not be familiar to everyone. However, for individuals enrolled in Medicare, IRMAA can have a significant impact on their healthcare costs. Here are the basics of IRMAA, why it matters, and how it can affect your Medicare expenses. What is IRMAA? IRMAA,…

Understanding Today’s Private Health Insurance

In the complex landscape of healthcare coverage, individuals often find themselves navigating the options of private and public health insurance. While public plans, such as Medicare and Medicaid, are funded and administered by the government, private health insurance is provided by private companies. Let’s explore the realm of private health insurance, shedding light on its…

Don’t Overlook These New RMD Rules for 2024: Learn about the 2024 guidelines related to required minimum distributions from qualified retirement accounts.

Your required minimum distributions, or RMDs, can impact other aspects of your financial life, like taxes or Medicare costs. Key Takeaways: Most closing costs are paid by the buyer, but some are the responsibility of the seller. Closing costs typically range from 2% to 5% of the home purchase price. Some first-time homebuyers may qualify…

Is Retiring Abroad a Smart Financial Move?: Researching and planning will ensure your golden years are truly golden

With the rising cost of living, mounting health care expenses, and the relentless creep of inflation, retirement in the U.S. is becoming a costly affair. For many Americans, particularly those aged 35-55, the golden years might not seem so golden. But what if there was another way? For many, the idea of retiring abroad has…

The Importance of Maximizing Contributions to Retirement Savings Accounts while Saving on Taxes

One of the most compelling reasons to maximize retirement contributions is the power of compound growth. The earlier and more you contribute, the more time your money has to grow exponentially. This means that your investments earn returns, and those returns themselves earn returns, creating a snowball effect that can significantly increase the value of…

YOUR FINANCIAL SECURITY IS OUR BUSINESS!