Avoid The Penalty For Getting Bad Information From Medicare
Unfortunately, pastors are sometimes given bad information regarding Medicare. This can lead to costly enrollment mistakes. If this has happened to you, there may be a way to fix things.
Category Retirement
What You Need To Know About Medicare To Save Hundreds Of Dollars A Month In Retirement
When it comes to Medicare, most pastors don’t really understand how it works. Unfortunately, this is one situation where ignorance can really hurt you. Here are the basics of Medicare and what you can do now, even if you’re still…
When Life Or Death Is A Financial Decision
I just finished a 2-year journey with my dad. It was that journey that inspired posts such as Do You Really Need All Those Papers?, Welcome To The Sandwich Generation, Be Prepared: When You Retire Is Not Your Decision, and…
Take Your Generosity Further With Qualified Charitable Distributions
If you give to charity and have an IRA, you may be able to save on taxes by doing a qualified charitable distribution.
How Medicare Works For Pastors Who Have Opted Out Of Social Security
Most pastors who have opted out of Social Security understand that they are on their own for their retirement savings. That part is fairly straightforward. But what about Medicare? How does opting out of Social Security affect eligibility? What are…
How To Take A Pastor Housing Allowance In Retirement
If you’re a pastor, you know that your ministerial housing allowance is perhaps the biggest financial benefit of being in the ministry. It allows you to avoid paying taxes on all of your housing expenses, including things like cable television and…
Reader Story: A Millionaire After 30+ Years In The Ministry
Several weeks ago we discussed the characteristics common to those who are able to build wealth over time. Today, I’m going to introduce you to a real live example of a pastor who has done it.
Be Prepared: When You Retire Is Not Your Decision
A lot of pastors think when they retire, or even if they retire, is their decision. But is that really the case? And if not, what should you do?
The Amazing Retirement Account You Didn’t Know You Have
It can be hard to save for retirement. Especially for pastors who need to because they’ve opted out of Social Security. A lot of big denominations have pensions, but what about independent pastors? Non-denominational pastors usually don’t have workplace retirement…
What Is An Annuity And Why Would I Want One?
If you’ve never had someone try to sell you an annuity, you’re either lucky or young. As you near retirement, you will have a plethora of “financial advisors” offering you annuities as the solution to your every financial need. Because…
Should I Put Extra Into Retirement Or Pay Off My Mortgage Early?
I recently received a message from a reader wondering what she should do with her extra income. Should she put the extra into retirement or towards paying off her house early? She was having a disagreement with a family member…
Traditional or Roth: Which IRA Is Better For You?
When opening an IRA, you must decide between a traditional account and a Roth account. Here are some of the advantages of each kind and things to consider when making your decision.