The Seaside Blog

Health Savings Accounts (HSAs) have become increasingly popular as a tax-advantaged way to save money for medical expenses. With the rising costs of healthcare, it is crucial to have a financial plan that not only covers current expenses but also provides for future needs. We will explore the ins and outs of HSAs, including the recent changes to contribution limits in 2024, the benefits of using HSAs for retirement planning, and how to make the most of these accounts.

Navigating the complexities of healthcare coverage can be a daunting task, especially for Medicare beneficiaries seeking comprehensive prescription drug coverage. Medicare Part D, a vital component of the Medicare program, is designed to provide assistance with the costs of prescription medications. Understanding the ins and outs of Medicare Part D is essential for making informed healthcare decisions and ensuring access to necessary medications. Let's delve into the intricacies of Medicare Part D, exploring its key components, coverage options, enrollment process, and important considerations for beneficiaries.

You've worked tirelessly your whole life, diligently saving for retirement. Every time you hear someone discuss tax strategies, you get excited, only to realize they mainly apply to business owners and real estate investors. But here's the thing: even in retirement, there are plenty of tax planning opportunities that can save you a significant amount of money. Oftentimes, retirees don’t take advantage of these strategies and instead make big mistakes with their taxes. Today, we'll explore 3 common tax planning mistakes retirees make and show you how to avoid them.

New retirees quickly realize that they’ve got much more time to play 18 holes at the country club or book that week-long get-away. And all these additional activities equal more money coming out of your bank account. In fact, we’re finding that many of our clients require closer to 100% of their pre-retirement income for retirement living.

As you approach retirement age, it is crucial to have a comprehensive understanding of how your benefits will be taxed. Social security taxes can be complex and confusing, but with the right knowledge, we can help you make informed decisions to minimize them. In this article, we will demystify social security taxes and explore how they affect both retirees and working individuals.