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retirement planninTwo key numbers in retirement planning are Social Security income and Medicare premiums. Each year, the federal government updates benefits and costs. For example, for 2018:

  • Social Security: The average benefit at full retirement age increased $27 per month to $1,404. The maximum wage-earners benefit has increased to $2,788.

  • Medicare premiums – Part B: Most people will now pay $134 monthly for Part B coverage, which can increase to as high as $428.60 for certain higher-income individuals.

Consider this basic retirement planning question: if you subtract the Medicare premium from the Social Security amount, could you live on that total? If not, your personal financial assets need to make up the difference. Our insurance professionals can help you get up to speed and in better shape for the future, so give us a call to get started.

yellow puzzle piece   RELATED: Read Add Long-Term Care to Retirement Planning   yellow puzzle piece





SOURCE - Mines Press - COPYRIGHT ©2018. This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is understood that the publishers are not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert advice is required, the services of a competent professional should be sought. 2/18.

Posted 8:00 AM

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