Financial Planning | MLN WEALTH & TAX PLANNING, INC

What the High Social Security COLA Could Mean for Your Retirement Finances

by Yagel | Jan 13, 2022 | Financial Planning

Social Security recipients will see a 5.9% increase in 2022 – the largest increase since 1982! This means that the average recipient will see a$92 a month raise starting next year.[1] While this is good news, it’s important to consider what this high Social Security...

Estate Planning 101

by Yagel | Jan 5, 2022 | Financial Planning

Did you know that Baby Boomers will pass down an estimated $68 trillion in wealth in the coming decades?[1] You’ve worked hard for your money and likely want to see it passed down in the most efficient way possible for your loved one’s benefit. Unfortunately, costly...

What is a Roth Conversion and Should You Do It?

by Yagel | Dec 20, 2021 | Financial Planning

When you think of your major expenses, you might think of housing, healthcare, travel, or something else. But have you considered that taxes could be your biggest expense, even in retirement? There could be ways to reduce your tax burden today and tomorrow, including...

Don’t Forget These Important End-of-Year Deadlines

by Yagel | Dec 13, 2021 | Financial Planning

Do you have a to-do checklist for December? It might include buying gifts, ordering a turkey, and sending out cards. In the midst of the busyness of the holidays, it can be easy to forget about your end-of-year financial checklist. However, December 31st is the...

Your Health is Priceless – But How Much Will It Cost You?

by Yagel | Dec 6, 2021 | Financial Planning

One of your largest retirement expenses could be your healthcare costs. An average 65-year-old couple retiring today will need an estimated $300,000 to cover their healthcare costs, according to a recent study.[1] Although good health is priceless, it could cost you...

Where Could Your Retirement Income Come From?

by Yagel | Nov 29, 2021 | Financial Planning

You’re used to receiving a paycheck, and perhaps you’ve been used to it steadily increasing over the course of your career. You may have experienced what’s known as “lifestyle inflation” and may not plan to downgrade in retirement. Whatever the case, it’s important to...