Financial planning for senior citizens is an important aspect of retirement.
Planning involves assessing your current financial situation, creating a budget, managing debt, maximizing retirement savings returns, considering all healthcare and insurance needs, engaging in estate planning, and addressing long-term care options.
Aging Sultions Management, LLC a Registered Investment Advisory Firm offers financial advisory services to senior citizens in the New York area. It is important to note that good money management is essential for all ages and stages of life, and as older adults, our financial needs (along with spending and saving patterns) change.
The thought of living on a fixed income can certainly be scary. Financial security and preparedness come in many forms. ASM LLC offers a comprehensive guide to finance for seniors, covering essential financial topics such as Social Security, retirement, tax credits and deductions, estate planning, and more.
Remember, good money management is essential for all ages and stages of life, and as older adults, our financial needs (along with spending and saving patterns) change.
IRA Planning
2020 brought in new rules for IRA planning. While they do not affect everyone, they do affect many people who have done well during their life. Many individuals are concerned about how to leave these qualified tax-deferred accounts to their beneficiaries. Your current strategy may have been a Legacy IR
Medicaid Planning
At Aging Solutions Management, our primary focus is elder planning and has been so for decades. Because it is our primary focus, we stay on top of all the recent legislative and regulatory rule changes regarding Medicaid, and we understand how they affect our clients.
Parts Of Medicare
Medicare itself has Parts not plans. Medicare is not Medicaid but is your primary health insurance in retirement. You have to address the Medicare decisions within 9 months of your 65th birthday in most cases. Let Aging Solutions Management help you with the decisions on the parts and plans of Medicare.
Social Security Planning
Based on a worker's lifetime earnings, Social Security benefits are meant to replace a portion of their pre-retirement income. Depending on how much you make and when you decide to begin receiving benefits, Social Security replaces a different percentage of pre-retirement wages based on your greatest 35 years of earnings.