via Big Changes in Social Security and Retirement Plans for 2018
Big Changes in Social Security and Retirement Plans for 2018
Big Changes in Social Security and Retirement Plans for 2018
From 401(k) plans to individual retirement accounts to Social Security, the federal government has been busy in recent weeks adjusting numbers for 2018. Whether you’re an employee or business owner, senior management or nonexempt staff, these changes may affect how you approach retirement in the coming months and years.
Social Security: New ceilings
First, let’s start with what is not changing. The 7.65 percent Social Security deduction remains the same. And as before, it’s doubled to 15.30 percent for the self-employed.
However, the maximum earnings subject to Social Security rises from $127,200 to $128,700, a $1,500 increase. The Society for Human Resource Management estimates that this change means 12 million more workers will be paying more Social Security tax than before. The 1.45 percent Medicare portion, which has no ceiling, remains unchanged.
Those who are working while collecting Social Security catch a small break: The SSA is raising slightly the amount people can earn before losing a portion of Social Security benefits. The new amounts are $10 or $40 a month, depending on the recipient’s status.
Another significant change is to the maximum Social Security benefit for those retiring at full retirement age, which changes from $2,687/month to $2,788/month, a $101 increase. More details are available on the Social Security site.
Retirement plan limits rise
Workers who can afford to do so can put away a little more for retirement: The limit for 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan is increased from $18,000 to $18,500.
It’s a little more complicated for those contributing to IRAs:
- For single taxpayers covered by a workplace retirement plan, the phase-out range is $63,000 to $73,000, up from $62,000 to $72,000.
- For married couples filing jointly, where the spouse making the IRA contribution is covered by a workplace retirement plan, the phase-out range is $101,000 to $121,000, up from $99,000 to $119,000.
- For an IRA contributor who is not covered by a workplace retirement plan and is married to someone who is covered, the deduction is phased out if the couple’s income is between $189,000 and $199,000, up from $186,000 and $196,000.
- For a married individual filing a separate return who is covered by a workplace retirement plan, the phase-out range is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.
Roth IRA contributors also get a bump up: The income phase-out range is $120,000 to $135,000 for singles and heads of household, up from $118,000 to $133,000. For married couples filing jointly, the income phase-out range is $189,000 to $199,000, up from $186,000 to $196,000. The phase-out range for a married individual filing a separate return who makes contributions to a Roth IRA is not subject to an annual cost-of-living adjustment and remains $0 to $10,000.
Some IRA numbers are not changing, however:
- The limit on annual contributions to an IRA remains $5,500. The additional catch-up contribution limit for individuals age 50 and over remains $1,000.
- The catch-up contribution limit for employees age 50 and over who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan remains unchanged at $6,000.
These are just summaries of complex rules. Be sure to give us a call so we can explain how these changes may affect your situation.
Beware of Kratom herb – plant
Mitragyna speciosa (commonly known as kratom, also ketum),[2] is a tropical evergreen tree in the coffee family (Rubiaceae) native to Southeast Asia in the Indochina and Malaysia phytochoria (botanical regions). M. speciosa is indigenous to Thailand, Indonesia, and Malaysia, Myanmar, and Papua New Guinea[3] where it has been used in traditional medicine since at least the 19th century.[4] Kratom has some opioid– and stimulant-like properties.[5][6]
As of 2013, no clinical trials had been done to understand kratom’s health effects and it had no approved medical uses.[3][4][7]Some people take it for managing chronic pain, for treating opioid withdrawal symptoms, or – more recently – for recreational purposes.[3][7] Onset of effects typically begins within 5 to 10 minutes and lasts 2 to 5 hours.[3]
Common minor side effects may include nausea, vomiting, and constipation.[3] More severe side effects may include seizure, addiction, and psychosis.[3][8][9][10] Other side effects may include high heart rate and blood pressure, trouble sleeping, and, rarely, liver toxicity.[3][10][11] When use is stopped, withdrawal may occur.[6][7] Respiratory depression (decreased breathing) is a major risk with all opioids;[12]:196 the medical literature is divided on whether it is a significant side effect of kratom, with some authorities not mentioning it[8][11] and others emphasizing it.[9][13] Deaths have occurred when kratom was present, mixed with other substances.[6][7] In the United States, there were fifteen kratom-related deaths between 2014 and 2016,[14] although, in none was kratom thought to be the sole factor.[7]
As of 2015, there was a growing international concern about a possible threat to public health from kratom use.[7][15] In some jurisdictions, its sale and importation have been restricted, and a number of public health authorities have raised alerts.[7][14][15]Sometimes the finished product is mixed into cocktails with other psychoactive drugs such as caffeine and codeine.[6][16]
Parasite Treatment Fights Prostate Cancer
Parasite Treatment Fights Prostate Cancer
Robert Reich just DECIMATED Trump’s tax plan
| Robert Reich just DECIMATED Trump’s tax plan: | |
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| Connie, Robert Reich is right. We CAN’T let this budget pass! | |
| But Paul Ryan is determined to push it through by Thanksgiving, and we’re running out of time to stop him. | |
| If you agree with Robert Reich that the Republican tax plan MUST be stopped, sign your name: | |
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| The GOP tax plan is nothing short of a way to help their Big Money donors. | |
| Medicare and Social Security could be GUTTED in order to finance huge tax breaks for the ultra-wealthy. | |
| We can’t allow Trump and his corporate donors further rig our economy. | |
| But Connie, we won’t be able to stop them alone. Sign your name if you agree that the GOP tax plan must be STOPPED: | |
| https://go.weareprogressives.org/Stop-The-Budget | |
| Together. | |
| -Progressive Caucus |
Researchers find that green roofs can help moderate the effects of climate change
Healthy immune system, healthy brain function
Landed makes downpayment easy to those who work at a school
Arvinas on a mission
Arvinas on a mission
Arvinas is developing a new class of drugs that engage the body’s own natural protein disposal system to treat cancers and other difficult-to-treat diseases.
As a potential improvement over traditional small molecule inhibitors, PROTACs (Proteolysis-Targeting Chimeras) are able to degrade disease-causing proteins through the cell’s Ubiquitin/Proteasome System, which routinely removes damaged proteins.
PROTACTM degraders work by recruiting an E3 ligase to tag the target protein for ubiquitination and degradation through the proteasome, a large complex that degrades the ubiquitinated protein into small peptides. After destruction of the protein, the PROTAC is released to continue its seek and destroy mission.
Connie’s comments:
It is similar to our body detoxing during sleep, eating whole foods, exercising and being happy surrounded by nature, good music, good people and a positive spirit.
Landed makes downpayment easy to those who work at a school
Healthy Aging Tips For Seniors
Healthy Aging Tips For Seniors
Healthy Aging Tips For Seniors
By Marie Villeza
For seniors, aging in a healthy way includes lots of factors. Taking care of yourself physically, mentally, and emotionally is imperative, and there are many ways to achieve this. It’s important to think about your health across all aspects of your life, including the time you spend at home, your social life, how much daily exercise you get, and what you eat.
Working to stay healthy means different things to different people, and as you age, there are a few small changes that can be made to your lifestyle that will help you stay active and vital. Keeping your body and mind in good shape will help you feel better and allow you to live your best life; here are a few tips on how to do just that.
Invest in your mental health
It’s not always easy to know the best ways to stay on top of your mental health, especially if you’ve battled mood disorders, stress, or substance abuse in the past. It’s different for everyone, so think about what’s best for you. That might mean learning a new skill, taking up a hobby, or investing in art therapy to help you cope with stress or anxiety, all of which can be invaluable to a senior.
Hobbies that are beneficial to your physical health include gardening, swimming, and walking, all of which can be done either alone or with a friend/group. For your mental health, painting, playing music, and woodworking can greatly reduce stress and can work as a sort of therapy to help improve your mood and your outlook. In fact, it’s often utilized for those battling substance abuse, as a recovery tool.
Get social
Keeping an active social life will help you get out and have fun, and it will give you something to look forward to as well. Look for clubs you can join in your community; you can check at the local library or at your church for group activities, as well. Set dates for once or twice a week, and consider getting your family involved if possible. Being able to spend time with your loved ones while getting out and having fun will really help you live your best life. For more tips on making sure your health takes priority, read on here.
Make your home work for you
Look around your home; does it work for your current needs? What about your future needs? As we age, our needs change, and that means our living situation may need to be adapted, as well. For some, this means making modifications to various rooms, such as the bathroom or kitchen. For others, it may mean downsizing and moving into a home that has no stairs or meets their physical needs more easily. Creating safe spaces in your home will help you avoid falls and stay healthy.
Get regular checkups
Seniors who have health issues–no matter how big or small–should make it a priority to get regular checkups from their dentist, optometrist, and primary care physician to ensure there are no problems and to make sure any medications are still doing their job. Talk to your doctor about what you can be doing at home to stay on track; for instance, if you’re living with diabetes, daily exercise and a strict diet are almost always necessary.
Your golden years can be as active and important as you want them to be; start with a good plan and try your best to stick to a routine, which can help you stay on track with your exercise and any art therapy you’re doing.
Connie’s comments: I buy my mom’s favorite red wine, plants for her garden, and treat her out with her girlfriends. There are many things that make them happy, ask them and spend time with them. Chatting with them make them happy. Let them know what make you happy too. They always wanted to help.