A recent proposal by Medicare reinforces the importance of advance directives for all – both young professionals and those in or near retirement. Medicare has proposed to compensate physicians and other health care providers, when asked, to explain and discuss long-term treatment options and advance care planning for chronic diseases. The reimbursement would also cover […]
You just received your third quarter investment statement showing your portfolio’s performance. You have a loss for the quarter or year to date. Or perhaps you review your investment accounts online and some of them are showing a loss. And you think, the son of a gun financial planner didn’t say I’d have a loss….. […]
Virginia is one of many states that offers both a prepaid 529 plan as well as an investment fund plan. In the PrePaid Plan, you purchase semesters of tuition at Virginia Public institutions at today’s prices. No matter how much the cost of tuition increases in at these in-state colleges in the future, you have […]
I was asked recently whether it wise to contribute more than the state tax deduction amount of $4,000 to the Virginia 529 College Savings Plan. Virginia maintains two distinct plans: The InVest Plan, which offers stock and bond mutual funds. The investment earnings are not taxed as long as you use them for qualified higher […]
The conventional wisdom is that many young professionals don’t need permanent life insurance. The reasons include the high cost compared to term life insurance and the temporary need for life insurance during the time they are paying down the mortgage and saving for college educations. But permanent life insurance may be appropriate as part of […]
Should you pay off your student loans faster and then save or vice versa? Use these six tips to determine which course of action best suits you. This discussion assumes you have excess cash available after making the minimum student loan payments. These tips also work for other debt you want to repay faster, such […]
You may be wondering what to do in a stock market sell-off (a “correction”). Domestic and international stocks have been down sharply since last Monday, August 17th. As of the market close on Tuesday, August 25th, the S&P 500, which tracks 500 of the largest US companies, was down 11.1% in six trading days, while […]
Auto insurers can use your credit score in Maryland, Virginia, and DC to calculate your premium – irrespective of your driving record. A recent Consumer Reports investigation uncovered how your credit score can have a bigger influence on your premium than your driving record. In addition, Consumer Reports found that in some states (including Virginia […]
Medigap or Medicare Supplement policies fill in the holes that Original fee-for-service Medicare does not cover. A Medigap policy helps you pay your co-pays and co-insurance for Medicare Part A (hospital) and Part B (physician) services. It is the secondary payer after Medicare. Maryland and Virginia insurance regulators have consumer guides that can help you […]
Newly proposed student loan repayment rules could help more borrowers better manage their student loans. The Obama Administration has proposed to offer a new income-driven student loan repayment plan, called Revised Pay As You Earn (REPAYE). The proposed rules seek to allow more borrowers to be eligible for the repayment plan, provide an upper limit […]
