Avoid Archives - DR News - News, Retirement, Finance

Medicare Blunders: 3 Costly Mistakes to Avoid When Enrolling in Health Coverage

Orlando, Florida – Millions of older Americans in the US obtain health coverage through Medicare. As they approach the age of 65, it becomes crucial for them to understand the rules and avoid potential mistakes when enrolling in Medicare or managing their healthcare expenses. One common mistake to avoid is not signing up for Medicare on time. Eligible individuals have a seven-month window to enroll, starting three months before their 65th birthday. However, those with …

Senate Approves $1.2tn Spending Package to Avoid Government Shutdown

Washington, D.C. – The US Senate has reached an agreement on a $1.2 trillion spending package that will keep the government funded through September, narrowly avoiding a shutdown just before a midnight deadline. While the Senate continues to vote on various amendments, the agreement ensures that key government departments will receive funding without any interruptions. The bill, set to be signed by President Joe Biden on Saturday, marks a significant bipartisan effort to provide stability …

Social Security Card Security: Why You Should Avoid Laminating Your Important Document

Washington, DC – Social Security cards should not be laminated to preserve their security features, according to the Social Security Administration. Instead, it is recommended to cover the card with plastic or another removable material to ensure its integrity. The AARP has been advocating for the protection of Social Security and Medicare, highlighting that a majority of older Americans oppose cutting these essential programs. The organization emphasized the self-financed nature of Social Security, with over …

Retirement Secrets: Avoid These Costly Mistakes Baby Boomers Make

Los Angeles, California – Baby boomers in middle-class America are quickly approaching retirement, a time to enjoy the fruits of their labor. However, for many, the dream of a peaceful retirement can quickly turn into a nightmare due to costly mistakes that threaten their financial security. According to the Transamerica Center for Retirement Studies, the median estimated retirement fund for baby boomers is a modest $202,000, leaving little room for error in financial planning. To …

Exempt: Four Groups Who Can Avoid Paying Social Security Taxes

Miami, Florida – Employees and employers in Miami, Florida, usually both contribute to Social Security taxes at a rate of 6.2% of earnings, up to the $168,600 wage cap in 2024. The Social Security Administration reported that approximately 180 million individuals paid these taxes in 2023, with few exceptions available for opting out. However, certain groups, such as eligible student workers, qualifying religious group members, certain government employees, and some nonresident aliens, may avoid paying …

Property Gifting Strategies to Avoid High Taxes: Expert Advice on Transferring Real Estate to Children

Los Angeles, California – A couple in Los Angeles, California, is seeking advice on how best to transfer their properties to their children without incurring substantial taxes. The couple, who have acquired multiple properties over the years, are hesitant to wait until their passing to gift the properties, as they find the idea unappealing. One option presented to the couple is transferring the properties to their children during their lifetime. However, it is important to …

Retirement Savings at Risk: Avoid this Common Pension Mistake in Divorce

Houston, TX – Divorce can often have far-reaching financial consequences, and a mistake in handling pensions during divorce proceedings could significantly impact an individual’s retirement savings. The mishandling of pension division can potentially lead to a much poorer retirement, leaving individuals without the necessary financial security in their later years. When couples divorce, assets such as pensions must be divided fairly and in accordance with the law. Failure to do so could result in one …

Diddy’s Legal Team Fights to Avoid ‘Hell on Earth’ Jail, Citing Dire Conditions Amid Sex Trafficking Charges

New York, NY – Against the backdrop of Sean “Diddy” Combs’ recent arrest on sex trafficking charges, his legal team is fervently opposing his pretrial detention at Brooklyn’s Metropolitan Detention Center (MDC Brooklyn), citing atrocious conditions and severe safety risks. The 54-year-old music mogul, who pleaded not guilty, faced the prospect of being held in a facility notorious for its inhumane environment and a history of violence among detainees. MDC Brooklyn, the only federal jail …

Retirees: 5 Worst Southwest Cities to Avoid for Their Golden Years

Phoenix, Arizona – The decision of where to retire is a significant one, with many factors to consider. Some cities and states may seem appealing at first glance, but they may not be the best choice for retirees looking to stretch their savings and enjoy their golden years. Here are some of the worst cities and states for retirees to consider when planning their post-career lives. According to a recently published report, the Southwest is …

Super Bowl Ads: Striving to Avoid Offending Viewers

MIAMI, FLORIDA – As the Super Bowl approaches, advertisers are aiming to create ads that avoid controversy and offense, focusing on entertaining and engaging the audience instead. In the past 20 years, the Super Bowl has been a huge platform for advertisers to showcase their creativity and brand to a massive audience. With the high cost of a commercial spot during the game, advertisers are under pressure to create ads that will have a lasting …