Starting Medicare After Age-65? Don’t Forget This Form

In an ideal world, you would only own health insurance when you need it. Forego health insurance all those years in which you were healthy and never visited a doctor. Those years in which you constantly seemed to have something go wrong, and the medical bills were adding up. Buy the best insurance policy you can find. Not surprising, insurance companies also know this, and … Continue reading Starting Medicare After Age-65? Don’t Forget This Form

Canadian Living in the U.S.? Taxation of Your RRSP, RRIF, CPP and OAS

Many retirement accounts, different country pensions, exchange rates, and  multiple tax rates. Working both in the U.S and Canada sure does make things complicated. However, if you are retiring here in the U.S., your tax situation is much more favorable than retiring in Canada. Here, I want to summarize the taxation of all of the different retirement accounts (RRSP, RRIF, and TFSA) as well as … Continue reading Canadian Living in the U.S.? Taxation of Your RRSP, RRIF, CPP and OAS

Using a CD Ladder as a Social Security Replacement Strategy

For a lot of people, delaying and starting social security later makes sense. I typically find that about 50% of my clients need to delay social security in order to live the retirement that they want. The other 50% won’t ever go through their money anyway, so they are perfectly fine starting early. The other day, the former situation occurred. While going through a detailed … Continue reading Using a CD Ladder as a Social Security Replacement Strategy

U.S. Retiree Medical Benefits for Canadians

You’ve probably heard the rumors. In order to get an MRI in Canada you need to travel 2,000 miles via dogsled. Months to see a doctor, and once you see a doctor, he doesn’t know what he’s doing. In order for a Canadian to get adequate healthcare, they have to come here to the U.S. Well, none of this is true, and most of us … Continue reading U.S. Retiree Medical Benefits for Canadians

Self Employed in Michigan? Comparing a SEP IRA vs. a Solo 401(k)

For years, the SEP IRA was the gold standard retirement plan for the self employed. High contribution rates? Check. Easy to open? Check. Flexible investments? Check. However, the SEP IRA is getting some competition, from the solo 401(k) (a.k.a an individual, or self employed 401(k)).  My buddy, and hotshot business owner , Marvin asked me the best retirement plan for him over dinner the other … Continue reading Self Employed in Michigan? Comparing a SEP IRA vs. a Solo 401(k)

How WEP Affects Social Security

Sometimes, as a financial planner, I have to deliver bad news.   “We may have to look at cheaper homes.” “Sure, you can retire this year, but you may have to sell the boat.” “No, you can’t buy lotto tickets in your Roth IRA.” The other day was no exception.  A client came into the office, having finally collected his U.S. and Canadian retirement benefit … Continue reading How WEP Affects Social Security

Why Retirement May be a Good Time to Sell That Highly Appreciated Stock

So you bought AT&T stock 30 years ago. It has gone through about 40 name changes, 12 spin offs, and 120 dividend payments. Not to mention the stock has made you a ton of money since you bought it. The cost basis is long gone and somehow you have misplaced your brokerage statements from 1986. You figure that you can never sell the stock because, … Continue reading Why Retirement May be a Good Time to Sell That Highly Appreciated Stock