What are the keys to prepare to grow wealthy together?

When you marry or simply share a household with someone, your financial life changes—and your approach to managing your money may change as well. The good news is that it is usually not so difficult.

At some point, you will have to ask yourselves some money questions—questions that pertain not only to your shared finances but also to your individual finances. Waiting too long to ask (or answer) those questions might carry a price. In the 2019 TD Bank Love & Money survey of consumers who said they were in relationships, 40% of younger couples described having weekly arguments about their finances.¹

Health care costs are rising, and even the healthiest among us is likely to need some sort of enhanced health care during our later years.  Have you considered the impact that long-term care costs could have on the later years of your retirement? And how would long-term care for one spouse impact the healthier spouse? As you consider these questions, take a look at the following recent statistics:

Numbers to know for the new year.

On October 26, the Treasury Department released the 2021 adjusted figures for retirement account savings. Although these adjustments won’t bring any major changes, there are some minor elements to note.

Breaking down the enrollment periods and eligibility.

Medicare enrollment is automatic for some. For those receiving Social Security benefits, the coverage starts on the first day of the month you turn 65.¹

If you are not receiving Social Security benefits at 65, you may be delaying until you reach full retirement age, or until you reach 70. If you’re coming up on 65 and not receiving Social Security benefits, SSDI, or benefits from the Railroad Retirement Board, you can still apply for Medicare coverage. You can visit your local SSA office or visit www.socialsecurity.gov/medicareonly/ to determine your eligibility.¹

Over the past months much has been said about how the presidential election might impact the stock market. Although we can't predict what will happen in this unexpected year, we can learn a lot from history.

Do you have a "Zombie Plan" roaming around somewhere in your financial past? An old 401(k), 403(b), or other employer sponsored plan that's been neglected and untouched for so long that it's almost left for dead!

We're quickly approaching the end of another year - for many it can't come soon enough! But, before you start on your holiday to-do list, you might want to check out this "Financial To-Do List." Experience tells us that those who run through these items annually are well set up to reach financial goals in the new year!

What you should know about the most recent cost-of-living adjustment.

On October 13, 2020, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 1.3 percent cost-of-living adjustment (COLA) for 2021. This adjustment will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021. Additionally, increased payments to more than 8 million Supplemental Security Income (SSI) beneficiaries will begin on December 31, 2020.¹

You've done it! You've scheduled your introductory meeting with a financial advisor. You're taking control of your financial future, but you have a lot of questions about what happens next. Rest assured, you're not alone. We have found that many of the people who talk to a Creekmur Wealth advisor  for the first time weren't sure what to expect, how much to share, or even what documents they should provide. Whether this first conversation happens on the phone, in one of our offices, or by video meeting, we want you to feel comfortable and understand what to expect.

One of the misconceptions we are faced with in the financial services industry is the idea that all “financial people” are the same. We sometimes hear the question,

"What is the difference between the advisors at Creekmur Wealth and the insurance agent or broker's office down the street?"