Archive for Miscellaneous

Before you Leave for that Vacation

Some tips:
* Run your garbage disposal with lemon rinds and cold water. This will avoid a smelly homecoming

* Pause your mail delivery. Piled up mail is a sign that no one is home. Go to: Pick it up or have it delivered when you return.

* Unplug unused appliances. To save on electricity pull the plug on microwaves, coffee makers and any appliances that draw power to run a clock.

* Thwart potential thieves by having a security sign outside( although a security system is best). Also, toss gravel on the ground near entries as it is noisy.

* Check social media. Do NOT post to the world that you are leaving or send photos while you are away. Wait to share when you return.

Have a fun and safe time.

Travel Tips…Recommended by Paul Ferraresi

1) After a long flight you do not want to stand in long currency exchange lines. Order foreign currency through your bank before leaving.
2) Get a universal plug so you can charge your phone and other devices
3) Notify your phone and credit card company that you will be travelling. Avoid have cards deactivated or running up high phone bills.
4) If you haven’t travelled in a while check your passport. It may have expired
5) Learn and practice a few words of the country’s native language. It will help build rapport with locals

Have a great trip!

A STEEP PRICE FOR MEDICARE recommended by Paul Ferraresi

Planning may help high income seniors avoid paying up to four times the going rate for Part B and Part D coverage.

In 2017, the standard premium for Medicare Part B is $134 a month. Most enrollees pay for Part B via reductions in their Social Security benefits, and the overall average monthly fee is $109.

Yet some senior pay almost quadruple that much – $428.60 a month ($957.20 for married couples) – for the exact same medical insurance.

Seniors who pay more for Part B also pay Medicare as much as $76 per month extra for prescription drug coverage, known as Part D.

This is the IRMAA – the income related monthly adjustment amount. If people are on Medicare, and their tax return shows high income, Medicare adds the IRMAA amount to their monthly premium.

Modified adjusted gross income over $85,000 ($170,000 on joint returns) brings IRMAA into play, with amounts increasing as MAGI hits certain thresholds. (Here, MAGI includes tax-exempt interest income.)


The Medicare trustees’ 2016 report projects that Part B monthly premiums, which have risen from a maximum of $161.40 in 2007 to $428.60 today, will continue to climb, reaching as much as $564 in 2025. Thus, Medicare Part B is likely to become more of a financial planning issue.

One key is to realize that there is a two-year lag between the income observed by Medicare and the resulting payments. Money that flows into a Medicare enrollee’s pocket in 2017 will be reported on a tax return filed in 2018, which determines Part B premiums due in 2019.

When seniors retire, they may pay the higher premium for two more years until that income history drops off their records. In order to reduce Part B premiums sooner than two years, you should appeal your higher IRMAA premium immediately upon retirement, if your income has dropped dramatically. One of the things that could qualify Medicare recipients for an IRMAA reduction is that they have stopped working.

You will qualify for the appeal under the life-changing event of ‘work stoppage.’ You can call Social Security or visit in person to present evidence of retirement to have your Medicare premiums recalculated.

Third Quarter Review – Weekly Update October 9, 2017 Recommended by Paul Ferraresi


This is a great online program to help young adults master the basics of finance.

CashCourse ( is a free online resource that helps young people to track spending, create budgets and, most importantly, understand how their current decisions will affect their future financial well-being.

In addition to a Budget Wizard, calculators, worksheets and the Financial Experts Wall, where students can get answers to their real-world financial questions, CashCourse has articles on everything from repaying student loans and living with roommates to choosing a career and making sense of workplace benefits.

About CashCourse

Launched in 2007 by the National Endowment for Financial Education® (NEFE®), CashCourse is non profit and non commercial – the program never charges for resources. The sole purpose of CashCourse is to give young adults the information they need to make informed, thoughtful and beneficial financial decisions aligned with their values.

CashCourse is used in more than 1,000 schools – including small private colleges, large public universities, and both two-year and four-year programs – in all 50 states. About 40 percent of CashCourse schools are community colleges.

Many schools use CashCourse in freshman orientation sessions to help new students think about how they will manage their money during their college years.