IRMAA Mia! Not Another Bill!

Our 2 Cents – Episode #269

IRMAA Mia! Not Another Bill!

A new episode of Our 2 Cents is here, and this one is packed with plenty to talk about! Today, Steve and Gabriel are diving into quick financial hits, October’s financial planning must-knows, the Medicare surcharge that could catch you by surprise, and end with a great listener question. Press play and get in the know. Your next financial insight starts here.

1. Gabriel’s Quick Hits:
   • Social Security benefits are set to increase by 3.6% in 2027 thanks to the annual cost-of-living adjustment (COLA). What does this boost mean for your finances?
   • Candy prices are getting scarier, but Halloween shoppers aren’t backing down. Let’s unwrap what the data shows.
   • Feeling pressured to tip? You’re not alone. Discover how tip fatigue is shaping consumer behavior.
2. October Financial Planning Calendar:
   • Education and goal funding take center stage this month. Here’s what to keep on your radar.
3. IRMAA: The Gift That Keeps on Taking:
   • Medicare has a costly little secret, and it could be hiding in your income! Could you be paying more than expected? Find out what triggers Income-Related Monthly Adjustment Amount (IRMAA) and how to plan ahead.
4. Listener Question:
   • “What are some best ways to reduce assets that have reached Illinois Death Tax level?” – Grace

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Podcast Transcript