October 2020

31 10, 2020

Three Things to Scrap In Retirement
Three Things to Scrap In Retirement

Three Things to Scrap In Retirement

BML Wealth Marketing2020-11-03T12:29:53-08:00October 31, 2020|Lifestyle, Retirement|

Successful people are ambitious and disciplined. They set big goals and focus on achieving them over the course of a long career or a lifetime. Many people also have high-flying goals for their personal life– run a marathon, hike Mt. Everest, etc. There are people who assume they’ll cross many of them off their bucket list once they enter retirement and have more free time. But while you're considering adding things you want to do in retirement, you might want to consider what you'd like to let go of. You may be willing to release [...]

26 10, 2020

How Will Social Security Benefits and Taxes Change Next Year?
How Will Social Security Benefits and Taxes Change Next Year?

How Will Social Security Benefits and Taxes Change Next Year?

BML Wealth Marketing2020-10-26T08:25:26-07:00October 26, 2020|Financial Planning, Social Security, Taxes|

The Social Security Administration recently made some important announcements that workers and retirees should note, including a Social Security benefit increase – and a tax increase. While it’s very unlikely that the program will ever disappear, we could see changes in the coming years due to the program's financial state. The Social Security trust fund was projected to run out in 2035, at which point about 79% of benefits would be payable.[1] Here’s how Social Security benefits and taxes will change next year. Benefits Will Increase by 1.3% in 2021 Social Security beneficiaries often get [...]

23 10, 2020

Your Retirement Should Be What You Want It to Be
Your Retirement Should Be What You Want It to Be

Your Retirement Should Be What You Want It to Be

BML Wealth Marketing2020-10-23T11:38:26-07:00October 23, 2020|Lifestyle, Retirement Planning|

For decades you've done what's expected of you - work hard for a living, take care of your loved ones, and often forgo putting yourself first. That all changes in retirement. Whether you're traveling, volunteering, taking up new hobbies, or relaxing with friends and family, retirement is a time to unwind and do something you enjoy. One thing that's great about life in retirement is the freedom you have to choose how you want to spend your time and the people you want to surround yourself with. You’re in control of your future, and your [...]

19 10, 2020

The 3 Biggest Concerns You Could Face In Retirement
The 3 Biggest Concerns You Could Face In Retirement

The 3 Biggest Concerns You Could Face In Retirement

BML Wealth Marketing2023-12-19T20:58:30-08:00October 19, 2020|Retirement Planning|

When you think of retirement, you might think of the vacations you’ll go on and all the free time you’ll enjoy with friends and family. There’s so much to enjoy about retirement, but it also comes with its challenges. Some of the biggest concerns you could face in retirement could be market volatility, an increased tax burden, and not having enough retirement income. Ultimately, all of these likely come from a fear of running out of money in retirement, which remains a top financial concern among retirees.[1] However, you can create a financial plan to [...]

16 10, 2020

3 Ways Life Could Be Different In 2050
3 Ways Life Could Be Different In 2050

3 Ways Life Could Be Different In 2050

BML Wealth Marketing2020-10-16T08:53:51-07:00October 16, 2020|Lifestyle|

2050 seems like a long time away, but 2019 seemed far away in 1989. Back then, did you think a cell phone would fit into your pocket? Or that you could shout at Alexa to order you more paper towels without getting off the couch? Technology has transformed the way that we live over the last 30 years, and there’s no telling how it will change life by 2050. Here are some predictions for what your retirement in 2050 could look like. New Technologies By 2050 there will likely be 9 billion people on earth, [...]

11 10, 2020

4 Things to Know About Medicare This Month
4 Things to Know About Medicare This Month

4 Things to Know About Medicare This Month

BML Wealth Marketing2020-10-11T21:25:17-07:00October 11, 2020|Health and Wellness|

One of your largest retirement expenses could be your healthcare costs. An average 65-year-old couple retiring today will need an estimated $363,946 to cover their healthcare costs, according to one study.[1] With the Medicare fall open enrollment period starting on October 15th, it’s time to assess your options or start thinking about your Medicare strategy for when you turn 65. Beyond this enrollment season, we could see changes to the Medicare program based on the outcome of this election. Here are 4 things to know about Medicare this month. You Can Switch From Original Medicare [...]

9 10, 2020

Moving Long-Term Care Into the Home
Moving Long-Term Care Into the Home

Moving Long-Term Care Into the Home

BML Wealth Marketing2020-10-09T07:01:05-07:00October 9, 2020|Health and Wellness|

There is a shift away from providing long-term care services in hospitals and nursing homes to proving them in individuals’ homes. This was happening before the pandemic, but the trend is now accelerating for several reasons. Many nursing homes did not allow visitors for months during the pandemic, understandably leading to many worried families and lonely older people. Many COVID-19 deaths have occurred in nursing homes and those who were not infected often experienced long periods of isolation. This pandemic will lead many people to question whether there’s a better way to provide care to [...]

4 10, 2020

3 Things You Can Do If You Don’t Qualify for a Roth IRA
3 Things You Can Do If You Don’t Qualify for a Roth IRA

3 Things You Can Do If You Don’t Qualify for a Roth IRA

BML Wealth Marketing2021-08-01T22:08:01-07:00October 4, 2020|Investing, Retirement Income|

There's evidence to suggest that we might be experiencing historically low tax rates right now. The Tax Cuts and Jobs Act will expire in 2025 or possibly sooner if there’s a leadership change in Washington. By the end of the year, total government debt is expected to almost equal the size of the U.S. economy.[1] This is one trend to keep an eye on when planning for retirement since taxes could rise in the future to pay for increased spending now. One popular long-term tax minimization strategy is to use a Roth IRA. However, there [...]

2 10, 2020

Get Active and Stay Active
Get Active and Stay Active

Get Active and Stay Active

BML Wealth Marketing2020-10-02T08:13:59-07:00October 2, 2020|Health and Wellness, Lifestyle|

We’ve all heard that exercise is good for us, but it can be hard to commit to when our normal routines are disrupted. Over the course of a career spent working countless hours and long nights, we may have gotten somewhat out of shape, and this trend is likely to continue if we’re stuck inside more than usual. We might think it’s too late to get back into shape by the time we’re retired, or pointless to carve out time for physical activity, but this isn’t true. For starters, it could help you stay active [...]

Monthly Archives: October 2020