November 2023

Social Security Benefits In 2024

The Social Security cost-of-living adjustment (COLA) in 2024 is a 3.2 percent increase.  This follows a record-high 9 percent increase in 2023. Does COLA Only Affect Retired Workers? Each fall, the Social Security Administration (SSA) announces changes to the annual cost-of-living adjustment for the forthcoming year. Based in part on the consumer price index, the

Medicare Part B Premiums And Deductibles Rise In 2024

Unlike in 2023, when Medicare Part B premiums and annual deductibles went down, they will rise in 2024.  These premiums come off the top from your Social Security benefit as an automatic deduction before the net benefit hits your bank account. Here are the changes, as set forth In a fact sheet recently released by the Centers

Use A Trust to Protect an IRA From Heirs’ Creditors

When a person declares bankruptcy, an individual retirement account (IRA) is one of the assets that is beyond the reach of creditors, but what about an IRA that has been inherited?  Resolving a conflict between lower courts, the U.S. Supreme Court in 2014 unanimously ruled that funds held in an inherited IRA are not exempt from creditors in