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Financial Implications of Working in Later Life

Money Talk

Tax Bracket Triggers - When earnings are added to a pension, Social Security, RMDs, and other taxable income, planning is needed to avoid a higher tax rate or Medicare premium. Employer Benefits - Workers age 65+ at large companies can still be covered by group health insurance, thereby postponing Medicare premiums.

Taxes 130
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Planning Ahead for Widowhood: Changed Income and Expenses

Money Talk

A married couple has four monthly income streams: $2,500- husband’s pension, $2,000- husband’s Social Security, $800- wife’s pension, and $1,500- wife’s Social Security for a total of $6,800 ($81,600 annually). This is a 40% “haircut,” which some couples cover with spousal gifts, annuities, and/or life insurance.

Pension 162
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Financial Wellness Spotlight: 4 Surprising Reasons Educators Need Support

Best Money Moves

Financial education can help teachers understand their unique retirement and health insurance plans Teachers also have unique and complex retirement and health insurance plans that can be difficult to navigate. However, only about half of teachers remain in the profession long enough to qualify for full pension benefits.