Retirement
Tax Tips For Seniors: 5 Things You Must Know
Whether you’re retired or still working, here are 5 must-know tax tips for seniors: 5. Utilize the 1040-SR Tax Form Traditional tax forms use tiny print that’s a strain on the eyes. Fortunately, people over 65 can take advantage of a new tax filing form that’s much easier to read. This two-page form is called…
Read MoreCelebrating the Baby Boomer Generation
Get out your party hats! Baby Boomer Recognition Day is August 17th. This event is an opportunity to celebrate a generation of people worthy of being honored. Baby Boomers, or colloquially ‘boomers,’ have witnessed massive events globally and have had a tremendous influence on the world. In the spirit of recognizing these folks, let’s peruse…
Read MoreCelebrate American Adventures Month
How do you define “adventure”? Many people think adventures must be heart-pounding extreme experiences, like skiing, skydiving, or rock climbing. But at United Medicare Advisors, we think that “adventure” can be anything out of your ordinary day-to-day life. Trying a new cuisine is an adventure. Visiting a new park is an adventure. Even taking the…
Read More5 Fundamentals for Retirement Readiness
Aegon and the Transamerica Institute® sponsored a survey that aims to understand how people are preparing for retirement, especially after the COVID-19 pandemic altered so many peoples’ plans. As part of their report, they shared what they call the 5 Fundamentals of Retirement Readiness. These five tips provide a solid foundation for retirement planning, and…
Read MorePresidents and Medicare
Medicare was signed into law in 1965, but it took many years and many presidents’ work to make it happen. Let’s take a look at all the Commanders in Chief who helped build the program through proposals and legislation over the years, according to the Centers for Medicare and Medicaid Services (CMS). President Theodore Roosevelt…
Read MoreValentine’s Day Ideas for Retirees
You might think that Valentine’s Day is reserved for couples and kids, but you’d be wrong! There are plenty of things you can do to celebrate (or avoid) the day. Retirees, especially, have extra time to do as they please. Spread the love to your partner, friends, family, or simply yourself! About Valentine’s Day Saint…
Read MoreSet Up For Success: Make Your Space Match Your Lifestyle
Many people spend years working hard and planning for their ideal retirement activities, whether it’ll include traveling, gardening, reading books, knitting, socializing, exercising, or something else. While most people plan for the financial elements of post-retirement life, they often overlook the psychological elements. A sudden change in a long-followed routine can be overwhelming for many…
Read MoreRetirement Statistics 2022
In 2022, Social Security benefits see an increase of 5.9% (the largest since 1983) thanks to the cost of living adjustment, or COLA. 25% of Americans increased their financial savings as a result of the COVID-19 pandemic. The average retirement age in the U.S. is 66.85. The retirement age is lowest in Alaska and West…
Read MoreHoliday gift ideas for grandchildren
Are you retired and living on a fixed budget? The holidays can stretch finances to the max. While you may feel tempted to overspend on that bright shiny toy for your grandchild, there are plenty of budget-friendly holiday gifts you can give to ensure you don’t go in the red (unless you’re actually wearing red).…
Read More31 Holiday activities for the whole family
It’s that time of year again! As the weather gets colder, TV commercials start advertising the same thing: Holiday Season! Many people are lucky to have extra family time in November and December. Looking for some inexpensive holiday activities for the whole family? Here are some ideas! Pass down family recipes Build your own decorations…
Read More21 things to do when you retire
Considering retirement? Congratulations! There are endless ways you can spend your golden years. As you begin to make your plans, be sure your budget accounts for all those surprise costs when the unexpected happens. Or, if you’d rather opt out of surprises when it comes to your health care expenses, consider purchasing a Medicare Supplement…
Read MoreWhat to Expect to Pay for Healthcare in Retirement
Medicare covers about two-thirds of your healthcare costs, however the program is not free for its more than 60 million beneficiaries. To cover premiums and out-of-pocket prescription drug costs after age 65, experts estimate men will spend $130,000 and women should plan to spend $146,000. By understanding this, you can better plan for your healthcare…
Read MoreSeniors & student loan debt: A growing crisis
As you head into retirement, you may be considering beach vacations and days spent doing what you love. But many seniors have another reality: heaps of student debt. Over the last 10 years, the number of seniors with outstanding student loans has quadrupled — from 700,000 in 2005 to 2.8 million in 2015. In 2015,…
Read MoreEasing Into Retirement: Your Complete Planning Guide
Comparing Medicare Insurance Made Easy! These tips & strategies will help you find the best plan for your needs and budget. Do you know which plans have networks and which don’t? How about which plans are guaranteed for life? What’s in this eBook? Which plan is the best deal for the money? Is there such…
Read MoreUnderstanding IRA minimum withdrawal rules
Did you know: Once you turn 70 ½, you are required to make your first minimum withdraw from your traditional IRA. Even if you don’t need your savings for living expenses, you are still required by law to start taking out required minimum distributions (RMDs) by the following April 1 after you turn 70 ½.…
Read MoreSurprising Senior Travel Discounts (2024 Update)
If you worked with a UMA agent to save money on your Medigap plan, you might be planning a vacation with that extra cash. But did you know that you may be missing out on a variety of additional senior travel deals? Our team is dedicated to saving you money — and not just on…
Read More5 common estate planning mistakes
Whether or not you’ve taken the time to plan your estate, you still have one. An estate is everything you own, including your car, home, life insurance, furniture, and investments. What is estate planning? Estate planning involves deciding what will happen to your estate when you pass away: who receives what and when they receive…
Read MoreTop 3 financial challenges facing seniors
Retirement should be a time of comfort and relaxation — and maybe one or two tropical vacations. But many retiring seniors find themselves in a place of fiscal hardship, either due to poor financial planning or rising federal costs, that cause unwanted stress and difficulties. “Millions of Americans retire every year without first seeking financial…
Read MoreTop travel tips for seniors
Whether it’s a bucket-list trip to visit the Eiffel Tower or a cross-country road trip to see family, seniors are traveling more than any generation before them. But unfortunately, like many others across the nation—51 percent of seniors find booking travel to be difficult and oftentimes overwhelming. Below are our top tips to make reserving…
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