Health Care Coverage in Retirement

If you are approaching retirement, before you plan your party, you need to consider how you will pay for health care coverage once you are no longer employed. Many retirees significantly underestimate how much they need to pay for medical expenses. For a close look at the questions you need to find answers to and items to discuss with your financial planner about health care in retirement, read this Insurance Know-How.

To Amend or Not to Amend

You filed your tax return, but you found an income statement you forgot to include. Your situation need not be a nightmare. You simply need to file a 1040x, Amended U.S. Individual Income Tax Return. This form will allow you to amend your both your income and deductions. For more information on when to file an amended return, read this C.P.A. Insight.

Catch-Up Contributions

If you are 50 years old or older by the end of your retirement plan year, you are eligible for a catch-up contribution allowed in IRA, 401(k), 403(b) and SIMPLE plans. For more information on the amount of the catch-up contribution allowed by each type of plan and other frequently asked questions, read this Financial Strategy.