A late enrollment penalty can apply to your future Medicare premiums if you have failed to enroll during the initial enrollment period.
July, 2018:
Social Security Spousal Benefit for a Divorcee
Recently we talked about the spousal benefit for Social Security retirement benefits. It is also important to note that similar benefits are available to a divorcee. A divorced spouse is eligible for a Social Security retirement benefit based upon the PIA (Primary Insurance Amount) of his or her ex-spouse under the following conditions: he or she is at least 62 years of age the couple was married for ten years or longer he or she is not currently married he or she is not eligible for a benefit (on his or her own record or another ex-spouse’s record) that would be greater than the benefit based on this particular ex-spouse’s record The divorcée’s former spouse does not have to have applied for benefits, as long as the couple have been divorced for at least two years when he or she applies for the spousal benefit. However, the former spouse must […]
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Just Getting Started
At a point in some people’s lives, they conclude they need some sort of assistance with their financial situation. This could be a recent high school or college grad determined to start off on the right track, or those in their mid to late working careers wondering if what they’re doing is the “right” way of doing things financially. In either case, the hope may be to make as few mistakes as possible along the way. When considering this situation, there are a few things to look at first, before moving on to other planning areas. In other words, think of the follow as a good foundation to have before expanding on or continuing your wealth management plan. Emergency Fund. This is the money set aside to pay for non-discretionary expenses that will not go away in the event of an emergency (loss of a job, medical, etc.). Although the […]
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When It Rains…
The other night I was awoken by a pretty severe thunderstorm. Bright lightning and heavy rains lasted throughout the night. By daybreak, it had rained nearly three inches in the span of six hours. Naturally, I thought, “time for an article.” The heavy rain made me think about what would happen in the event of a flood. The reason why is that most home insurance policies specifically exclude damage from flooding. That is, if water seeps into a basement from heavy rains and damages the area, homeowner’s insurance would not apply. A specific flood insurance policy is needed. However, flood is not the only peril home insurance policies will generally exclude. In many cases, most home policies will exclude the following perils. Flood Earthquake Neglect Termites War Intentional loss Additionally, most home policies (including renters or condo insurance) will exclude or limit coverage on personal property for the following. Business […]
Sterling Raskie, MSFS, CFP®, ChFC®
The latest in our Owner’s Manual series, A 401(k) Owner’s Manual, was published in January 2020 and is available on 
A Medicare Owner’s Manual, is updated with 2020 facts and figures. This manual is available on 
Social Security for the Suddenly Single can be found on Amazon at 
Sterling’s first book, Lose Weight Save Money, can be 
An IRA Owner’s Manual, 2nd Edition is available for purchase on Amazon. Click the link to choose the 
Jim’s book – A Social Security Owner’s Manual, is now available on Amazon. Click this link for the 
And if you’ve come here to learn about queuing waterfowl, I apologize for the confusion. You may want to discuss your question with Lester, my loyal watchduck and self-proclaimed “advisor’s advisor”.