A reader is trying to plan ahead to avoid the dreaded IRMAA, a surcharge that can come out of your Social Security check.

Low- or moderate-income families in the United States have a variety of support programs to improve their finances and cope ...

Many advisors turn to the 4% rule as a guideline. Developed by a financial advisor in the 1990s, this rule suggests that ...

Question: If someone is on Federal Health Benefits, what happens when they turn 65 and become eligible for Medicare?

Medicare bills are increasing for millions of Americans despite a $2,000 prescription drug cap beginning in 2025, as premiums will be higher on average compared to last year for seniors relying on ...

For example, they will use your 2023 MAGI to determine your 2025 Medicare Part B premium (and your Part D premium if you have Part D). So, if your income reported to the IRS on your tax return in 2023 ...

F.I.R.E. strategy fans who built large nest eggs can get stuck with high taxes and penalties unless they proactively ...

When you make significant withdrawals from your retirement plan, like withdrawing $95,000 in a single year, you can ...

Take advantage of historically low tax rates to optimize your retirement savings and reduce your tax liability.

Foster Financial Services is a boutique retirement and investment services firm committed to educating the general consumer ...

If your income exceeds certain thresholds, you'll pay an extra fee called the Part D-Income Related Monthly Adjustment Amount (IRMAA). For example: Individuals earning over $106,000 or couples ...