Changes to 401Ks & Medicare in 2022, Ep #75 

<p>As we head into a new year, the typical changes the government makes regarding retirement accounts and government healthcare are being announced. It looks like we’re going to see changes to 401K accounts and changes to Medicare premiums. Some of these changes are pretty significant, especially in light of the high rate of inflation and increased cost of living we’re experiencing at the moment. This episode is going to break it down for you.</p> <p>Also, we have a number of very interesting listener questions and one in particular that I found very insightful, so I’ll be answering that question about how conservative bond fund investments can actually lose money over the short term. I invite you to listen! </p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>2022 changes to your 401K [5:43]</li> <li>The largest Medicare premium increase in history is coming in 2022 [7:54]</li> <li>Would you purchase a qualified longevity contract? (a deferred annuity) [14:25]</li> <li>A flexible retirement date and has a bonus and vacation income to consider [16:07]</li> <li>What are your thoughts about investing my company’s stock inside a 401K? [18:12]</li> <li>A recommendation to create a self-directed IRA… should I do it? [20:24]</li> </ul> <h2>Additional investments to your 401K are allowed in 2022</h2> <p>As you know, the government restricts how much money investors can put into tax-free or tax-deferred retirement accounts like 401Ks and IRAs. But now and then, typically at the beginning of the year, changes are made to those rules. This is one of those times. The announcement came recently that you can now contribute an additional $1000 a year to your 401K plan. That means in total, you can contribute $20,500 into your plan… and here is still that $6500 for people over 50. You might be wondering, does that amount limit include the company match? No, it doesn’t. Those figures are only related to your personal contributions.</p> <h2>The 2022 Medicare Part B Premium is going up 14.5% - a pl