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Saving Money on Healthcare Costs in Retirement

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Healthcare expenses in retirement is a growing concern for retirees. The increasing costs of healthcare and the inflation factor that goes along with it creates a growing need for advanced planning related to preparing for these costs. Currently Medicare Part B inflation is running around 8% and Part D around 7%.

Healthcare and Medicare expenses are one of the largest expenses – even larger than recreation and housing costs combined. Consumers are often confused when it comes to what is the proper amount to plan for on the “Medical Expenses” line item on their household budgets. Many do not realize that an individual’s Medicare premiums are affected by one’s annual income. Understanding one’s MAGI (Modified Adjusted Gross Income) and implementing strategies to plan around certain income thresholds can positively affect healthcare expenses in retirement.

Here’s an example – a married couple who moves their tax bracket one threshold lower can save $70,000 over their lifetime. How can planning make that happen?

Non-qualified annuities, Health Savings Accounts, Permanent Life Insurance, Reverse Mortgages, ROTH IRAs, are all ways to reduce one’s taxable income. Required Minimum Distributions (RMDs) occur when an IRA owner is forced to begin to take withdrawals from their IRAs in the year in which they turn 70 ½ years of age. Utilizing strategies to reduce IRA balances earlier in one’s retirement – such as ROTH Conversions, early withdrawals, and QLACs (Qualified Longevity Annuity Contracts) are ways to reduce the amount of funds that must be taken from IRAs under the RMD rules – and thereby reduce taxable income.

Annuities that are in payout phase use a tax basis called “Exclusion Ratio” – this simply means that the payment that someone receives is treated as part “return of investment” and part “taxable interest”. Annuities can take lump sum deposits and create guaranteed lifetime income with potentially solid benefits from a tax planning standpoint. On the Permanent Life Insurance front – cash value in life insurance contracts can often be accessed tax free through a provision of policy loans. Finally – Reverse Mortgages create funds that are not subject to state and federal income taxes.

Health Savings Accounts are becoming a notable tax planning tool. They have “triple tax advantages” and if implemented early can create a tax free pool of funds that can be utilized to fund healthcare expenses later in life.

In closing – tax planning goes hand in hand with investment planning. Combining both tax and investment planning can create real savings into retirement years. Retirement is mainly about income more than growth. Controlling expenses – which taxes and healthcare are front and center – can put more spendable money into retirees pockets to help them enjoy their retirement years.

Bitcoin

Finally! WallStreetBets Indulges in Bitcoin (BTC), Ethereum (ETH) and Other Cryptos!

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Finally! WallStreetBets Indulges in Bitcoin (BTC), Ethereum (ETH) and Other Cryptos!
  • Despite a long wait, finally WallStreetBets enters into the cryptocurrency industry.
  • Discussions to be mainly focused on Bitcoin (BTC), Ethereum (ETH) and other prominent coins.
  • Discussions regarding scams, predictions and crypto fanning are not allowed. 

Even a random novice into the stock market industry will be knowing the WallStreetBets! The WallStreetBets is a subreddit platform which is vividly into all discussions regarding the stock market. In addition, the WallStreetBets are a vital reason for the stocks of GamStop to spike up profusely, recently. 

However, almost everyone who is into the WallStreetBets so badly wanted them to start discussions upon the cryptocurrencies too. Yet, the WallStreetBets has been avoiding it and once even strictly announced that crypto discussions wouldn’t take place. 

On the contrary, a few days back on September 22, the WallStreetBets (WSB) finally gave out officially regarding their crypto discussion entity.

WallStreetBets Views

In spite of their much awaited and epic entry into the crypto industry, many are eagerly on what crypto the discussions would start. Moreover, the expectations on WSB into cryptocurrencies is extreme though. 

Furthermore, WSB terms that their new crypto entity will be by the same team, by the same people and by the same system and protocol as that of their stocks. 

Amidst all this, WSB does put up certain limits and restrictions regarding what to be discussed and what not too. They tend that these rules and regulations are necessary for them to maintain their standards. 

On the other hand, people are expecting so much on WSB when it comes to cryptos. This is because the GameStop was in fact absolutely nothing at start , but with the WSB, it is now at its all time high. This in fact, no one ever even dreamt of!

Crypto Rules of WSB

Besides the expectations, the WSB is so strong in maintaining their standards. Accordingly, they have devices with certain rules and regulations upon the cryptocurrency discussions. 

In addition, one of their rules depict not to discuss any sorts of market bear or bull, scams and smart contract schemes etc. 

Moreover, they tend to stick to their discussions with renowned coins such as the Bitcoin (BTC), Ethereum (ETH), the Dogecoin (DOGE) and so on. 

Furthermore, they tend to concentrate more upon recent hot trends like the China crypto ban, developments of Solana (SOL), and further on. 

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TA: Bitcoin Forms Bullish Pattern, Why BTC Could Rally above $45K

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Bitcoin

Bitcoin price stayed above the key $40,750 support zone against the US Dollar. BTC is rising and it could soon rally above the $45,000 resistance.

  • Bitcoin started a recovery wave above the $42,800 and $43,000 resistance levels.
  • The price is now trading above $43,000 and the 100 hourly simple moving average.
  • There was a break above a connecting bearish trend line with resistance near $42,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could accelerate higher once it clears the key $45,000 resistance zone.

Bitcoin Price Starts Fresh Increase

Bitcoin price struggled below the $43,000 level for a few sessions. BTC declined below $41,000, but the bulls protected the $40,750 zone. There were two attempts to clear $40,750, but the bears failed.

As a result, the price started a fresh increase and it seems like it has formed a double bottom pattern near the $40,750 level. It is rising and it has cleared the $42,000 and $42,800 resistance levels. There was also a break above a connecting bearish trend line with resistance near $42,400 on the hourly chart of the BTC/USD pair.

Bitcoin cleared the 50% Fib retracement level of the downward move from the $45,153 swing high to $40,750 swing low. It is now trading above $43,000 and the 100 hourly simple moving average.

Besides, it is consolidating near the 76.4% Fib retracement level of the downward move from the $45,153 swing high to $40,750 swing low. On the upside, an immediate resistance is near the $44,800 level. The first major resistance is near the $45,000 level.

Source: BTCUSD on TradingView.com

A close above the $44,800 and $45,000 levels could start a steady increase. The next major resistance is near the $45,500 zone, above which the price could rise towards the $46,200 resistance.

Dips Limited In BTC?

If bitcoin fails to clear the $45,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,600 level.

The first major support is near the $43,200 zone and the 100 hourly simple moving average. Any more losses could lead the price towards the $42,000 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $44,600, followed by $43,200.

Major Resistance Levels – $44,800, $45,000 and $45,500.

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London College Student Been Mugged off $98k Bitcoin (BTC)

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London College Student Been Mugged off $98k Bitcoin (BTC)
  • A London college student gets robbed off $98K worth Bitcoin (BTC).
  • A gang of eight gangsters robbed the student threatening him with knives.
  • Despite such hideous crimes, the police failed to capture the thieves. 

This piece of news is quite an interesting one, but not to offend anyone though. However, it’s vivid that all crypto related crimes are usually cyber ones, but this is the first time as a writer I am coming across a live one! 

About the start of this year, a freshman got mugged at knife point by a gang of eight thieves. True to the fact, these thieves were not after money or other assets, but instead for Bitcoin (BTC). The incident took place at the University of Kent, London.

The BTC Mugging

A freshman was about to start his college in the University of Kent, full of many dreams and positivity. However, all his postivesness was short-lived. About, just 5 days remaining for him to start his course, the freshman was talking to one of his school friends about cryptocurrency and other such related stuff.  

Furthermore, at the end of the conversation, the school friend said a few of his friends from East London will be visiting him soon. In spite of this, the freshman got quite suspicious and scared. 

Moreover, the very next day, a gang of about eight anonymous people came to his dorm room. In addition, all had knives with them and threatened the freshman to reveal his crypto wallet passwords and wallet addresses. 

As a result, terrified by the act, the freshman handed over his passwords and wallet addresses. Once the thieves got what they wanted they left immediately and along with them BTC worth $8.2K. 

Despite all these events, the freshman ran out to the camp security , then the police who however did not arrive at the scene though.

The Action of Police

In spite of this whole incident, the mother of the freshman expressed her agony. The mother reveals that no proper action was taken by the police and the police did not arrive at the crime scene that day. 

In addition, the mother claims that the University of Kent took no proper action, and just simply shifted the dorm room of the freshman to a more secure campus. 

Furthermore, it’s been about nearly eight months since the incident happened. Yet, the police too have not concluded anything on the case. Also, at present the case has been closed without any consent. 

Moreover, now the value of BTC lost by the freshman accounts to about more than $98K.

In spite of all this, the mother of the freshman warns other parents and fellow freshman students that this practice of mugging freshman , known as the ‘Fresher’s Fishing Week’ is profuse in London. Freshmen in London have to be safe and secure during those times!

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GoldFinX (GIX) Skyrockets 1674% In A Day After New Partnerships

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GoldFinX (GIX) Skyrockets 1674% In A Day After New Partnerships