There's a 2023 fix for the ACA "Family Glitch." Since the inception of the affordable care act (ACA), if your employer offered affordable health insurance coverage for you as an employee, you were ineligible for ACA subsidies for your family members even if adding them to your employer plan was not … [Read more...]
Planning with Medicare Premiums in Mind
Depending on your income, premiums for Medicare Part B could cost more than the standard rate ($144.60 per month in 2020). This is referred to as IRMAA – the income related monthly adjustment amount. In 2020, Part B premiums will cost more if your modified adjusted gross income (MAGI) is higher than … [Read more...]
Health Insurance for College Students
As your child prepares to head off to college, probably the last thing on his or her mind is health insurance. But getting sick or injured away from home can be an unpleasant (and expensive) experience--more so if your child doesn't know his or her health-care options. You'll want to make sure that … [Read more...]
November Personal Finance Newsletter
The November personal finance newsletter is now available. It includes all the updates on 2012 IRA and retirement plan contribution limits, plus the 2012 social security and medicare figures. In addition, we cover the importance of long term care planning for women and information on a free … [Read more...]
October Personal Finance Newsletter
The October personal finance newsletter is now available. We review the third quarter investment markets performance and provide perspective on the current economic situation. In addition, the newsletter includes information on medicare open enrollment, how markets have historically reacted to … [Read more...]
Insurance When a Child Goes to College
As you send your child off to college, you probably have a lot of things on your mind, such as whether your child will eat right and get enough sleep, how to pay tuition, and what to do with that empty bedroom. And although insurance may seem like a low priority, there are some important issues you … [Read more...]
July Personal Finance Newsletter
The July personal financial planning newsletter is now available. Because of the tumultuous investment markets and economic uncertainty, the newsletter includes two investing columns -- one a recap of the second quarter market performance with a look forward, and another by Jim Parker with … [Read more...]
June Personal Finance Newsletter
The June personal finance newsletter is now available. It includes an investment market update and articles on several personal financial planning topics. There's information on how long to keep financial records, perspective on the debt ceiling debate, an update on the new "net college cost" … [Read more...]
May Personal Finance Newsletter
The May 2011 Personal Finance Newsletter is now available. It includes articles on long-term care planning, mid-year tax considerations, and deciphering health savings vehicles. A link to a great article on the relationship between how we spend our money and happiness is also included, as well as … [Read more...]
February Personal Finance Newsletter
The February personal finance newsletter is now available. In addition to the investing market update, the topics are: Extension of tax-free charitable contribution option from IRAs for those over 70 1/2 New cost basis reporting rules (important for those with taxable investment … [Read more...]
November Personal Finance Newsletter
The November personal finance newsletter is now available. It includes information 2011 retirement plan contribution limits -- most are unchanged, but if you're right on the edge of having too much income to make Roth IRA contributions, you should check out the slightly increased income phase-out … [Read more...]
Keller Free Financial Workshop
How much insurance do you really need? It can often seem challenging to get an objective answer to this question. On Tuesday, October 19, at 6:30 pm, I will be presenting a free personal finance workshop at the Keller Public Library on life insurance, disability insurance, and long-term care … [Read more...]
October Personal Finance Newsletter
The October 2010 personal finance newsletter is now available. It includes information on social security, medicare open enrollment season, year-end investment planning, and the new small business jobs act provisions. In addition, an investment market update and information on free financial … [Read more...]
August 2010 Personal Finance Newsletter
The August 2010 personal finance newsletter is now available. It includes information on how college scholarships are taxed, how the new healthcare law affects Medicare drug plans, and, as always, an investment market update. Enjoy! Click here to view the newsletter. … [Read more...]
May 2010 Newsletter
The May 2010 newsletter is now available. It includes investing information with perspective on last week's market plunge and an update on the new reduced fees for trading Vanguard ETFs. For taxes, there's information on the new 3.8% medicare tax for high income individuals. For cash flow, we … [Read more...]
When an Insurance Company Fails
Last week I attended the Financial Planning Association annual symposium in Dallas, and one of the speakers was Bart Boles, executive director for Texas' insurance guaranty association. He shared the association's processes when an insurance company fails, and how we as the consumer would likely be … [Read more...]
New Health Care Law Highlights
If you're like me, you found it challenging to keep up with the provisions of the health care bills as they worked through the legislative process. But now that the bill is law, it's helpful to understand how it may affect your individual situation and any changes that need to be made to your … [Read more...]
January 2010 Newsletter
The January 2010 newsletter is now available. Beginning in 2010, it will be published the second week of each month. This month's newsletter includes a brief 2009 market update, an update on the estate tax for 2010, how to conduct a home inventory, and more. Click here to read it. … [Read more...]
Recovering from Unemployment
If you’ve been out of work for a period of time, it’s a huge relief when the paychecks start rolling in again. Depending on how long you were unemployed, what your finances were like before the job loss, and other sources of income in your household, getting back to work could be just the beginning … [Read more...]
Pension Max: Is it right for you?
If you’re near retirement and have a pension, you may be considering a pension max strategy. With all the variables involved, it can be challenging to determine if it’s really in your best interest. First – what is pension max? Pension max is used by married couples to increase their net … [Read more...]
2010 Key Numbers
The key numbers guide from Forefield has been updated for 2010. Not a lot of changes from last year, but still a convenient reference. It includes limits on retirement plan contributions, tax brackets, tax credit and deduction phase-outs, social security benefits, medicare, and much more. 2010 … [Read more...]
October 2009 Newsletter
The October newsletter is now available. It includes a reminder about the October 15 deadline to recharacterize 2008 Roth IRA conversions, a market update, how to calculate your net worth and why net worth is the financial number to watch, and more. To read the newsletter, click here. … [Read more...]
New Texas Teacher Long-Term Care Insurance Option
Beginning on September 1 this year, the new long-term care insurance provider for the Texas Teacher Retirement System (TRS) switched from Aetna to Genworth. During open enrollment from September 15 - November 15 this year, teachers will have the option to sign up for this insurance. If you're … [Read more...]
September 2009 Newsletter
The September 2009 newsletter is now available. It includes information on 2010 retirement plan contribution limits, health insurance protection for college students, KFP's new Dallas office, and more. To read it, click here. … [Read more...]
Be skeptical: 5 claims to watch out for in long-term care insurance
Long-term care planning is an important aspect of a financial plan, especially for those 50+. And insurance is often a component of that plan. But it's important to know exactly what you're buying, to compare pricing and features with comparable companies, and to buy the insurance for the right … [Read more...]
Long Term Care is a Woman’s Issue
I just read a great article in the Journal of Financial Planning about the "Double Jeopardy" women face with long-term care. Written by Mary Quist-Newins with American College, she succinctly describes the increased risks women face as both caregivers and receivers in planning for … [Read more...]
August 2009 newsletter
The August newsletter is now available. It includes information on 2010 social security and medicare numbers for planning purposes, whether creditors can go after your 401(k) and more. To view it, click here. … [Read more...]
Early Retirees & Health Insurance
Thinking about retiring early? As part of the decision, you've got to calculate whether you'll have enough retirement income to meet your needs. While adding up the costs of customary living expenses, utilities, and an occasional vacation, don't forget to include another important retirement … [Read more...]
Do you need disability insurance?
Lack of long-term disability insurance is one of the most common issues I see in my practice. First, please note that I don't sell disability insurance. I'm a fee only financial planner, so I don't receive any commissions on insurance or other products I recommend. My interest is in helping my … [Read more...]