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Tom Meaglia, ChFC®, AEP®,
CLU®, CRPC®, MSFS
Chartered Financial Consultant
Investment Advisor Representative
Chartered Retirement Planning Counselor
CA Insurance Lic. #0567507
Meaglia Financial Consulting
2105 Foothill Blvd., #B140, La Verne, CA 91750
Toll Free: 800-386-3700
Bus: 909-593-6105
Cell: 818-681-8600
Fax: 909-593-6120
Email: tom@meagliafinancialconsulting.com
Website: www.meagliafinancialconsulting.com
If you read or hear dire predictions about how underfunded Medicare and Social Security are, you would think retirees will soon be in desperate financial shape. The truth is these programs have served retirees for years, and will likely continue to do so in the future. But the reality is that these programs cannot fully fund your retirement, so it’s up to you to ensure your own retirement security by balancing today's needs with saving for tomorrow.
Medicare is also funded by surplus in its trust funds. While you may read headlines about Medicare running out of money by 2026, continuing payments into Medicare’s hospital trust will fund most Part A insurance — hospital insurance — after that date. No such shortfall is predicted for Medicare’s supplemental insurance trust fund, which includes Parts B and D (prescription drug coverage).
When you receive raises, promotions and bonuses, put the newfound money into your retirement accounts — you won’t miss the extra money because you never had it. If you want to save more, investigate traditional and Roth IRAs. And if it’s available through your workplace, consider contributing to a triple tax-free Health Savings Account (HSA).
As you near retirement, compare Medicare insurance policies — they may differ in price. Make sure to avoid penalties and surcharges by purchasing Medicare policies within the allowable timeframe. If you want retirement income you can count on, explore fixed annuities, which may offer you that guarantee. Talk to your financial professional to learn more.
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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.