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Social Security Updates: November 2020

By Ryan Murphy | November 30, 2020

The Social Security Administration (SSA) recently announced a new cost-of-living adjustment (COLA) starting in 2021. Beneficiaries can expect a 1.3% increase in their income payouts next year, which is actually smaller than the COLA increase was for this year.1 For single households, that’s an average increase of about $20 a month; $33 for married retirees.2…

Will You Be Able To Afford In-Home, Long-Term Care?

By Ryan Murphy | November 3, 2020

More than 90% of America’s older adults prefer to “age in place” in their own homes rather than in a senior housing community or facility.1 With today’s insight into how a deadly pandemic can affect nursing homes — as of September 6, COVID-19 has claimed nearly 55,000 nursing home residents’ lives — this preference may…

2020 Federal Legislative and Administrative Rules Update

By Ryan Murphy | November 3, 2020

If you received a stimulus check last spring to help cope with the financial effects of the COVID-19 virus on your household, there’s something you should know. Those funds are technically an advance rebate of a special 2020 tax credit. Many taxpayers will be able to reconcile that rebate on their 2020 return to equal…

Fixed Income vs. Stock Portfolio

By Ryan Murphy | November 3, 2020

Early this year, many stopped spending and began saving money. This wasn’t difficult as many areas of the economy were — and possibly still are — shut down. For some, vacation plans were canceled, and the normal level of entertainment activities and dining out have been curbed. If you’ve remained employed, chances are good you’ve…

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