Retire Right Pittsburgh

Don's Trip to the LPL Retirement Partner's Conference in Florida. And yes, that's Sugar Ray Leonard Don's chatting it up with.

FOCUS- LPL 2019 Conference

https://www.kiplinger.com//T023-S001-financial/index.html

2019 has brought several changes to Social Security and Medicare, affecting many Americans. Here’s a quick summary of ways that your retirement benefits may be affected this year: A 2.8% increase in Social Security retirement benefits ($1,461/month for retired individuals, $2,448/month for retired couples). This is also the biggest cost-of living adjustment in seven years! Medicare Part B premiums (covering doctors’ visits and outpatient services) will increase from $13...4 to 135.50, a whopping 1%. Income taxes are decreasing, but payroll taxes are not, especially for high-income workers (earning over $132,900). Retirees under 66 can now earn up to $17,640 before any benefits are deducted. The full retirement age of individuals has increased to 66, affecting those who claim Social Security at 62 with a 27.5% penalty (up from 25% in the past). Qualifying for Social Security and Medicare now requires at least 40 Social Security credits (4 credits/year max). Each credit now represents $1,360 in earnings, or $5,440 in 2019 for 4 credits. Despite these changes, Social Security benefits remain taxable at the same rates. For other questions regarding Social Security and retirement benefits, contact our advisors!

We had a wonderful afternoon at Southpointe Golf Club's annual Christmas Luncheon earlier this week.

Be sure to get out and vote tomorrow! For those curious, here's how the S&P 500 has fared the year after midterm elections since World War II (18 instances).

Great visit from our Partners at The American Funds last week. Timely and actionable insight given the current market environment.