Retire with Phil Royal CFP of Master Plan Wealth Management

10/15/2026

Those enrolled in Original Medicare Part B may be eligible for one-time $90 payment to offset their Part B premimum this month (October 2026).

One-time premium rebate letter What is it?A letter to people in Original Medicare Part B who are: (1) Living in the United States, (2) not receiving premium assistance from Medicaid; or, (3) not paying an Income-Related Monthly Adjustment Amount, notifying them of a one-time payment of $90 to offset...

10/14/2026

2027 Social Security COLA increase announced. It's 3.6% up from 2.8% in 2026

Social Security benefits and Supplemental Security Income (SSI) payments for 76 million Americans will increase 3.6 percent in 2027. On average, Social Security …

11/13/2025

IRS announces 2026 Retirement Plan contribution cost-of-living increases. Feel free to contact us regarding how you may be able to contribute up to $80,000 to your company retirement plan in 2026. If you participate in a high deductible health plan, try to contribute up to the max to your HSA account, since its triple-tax free when distributions spent on qualified healthcare expenses any time during your lifetime. It's even better than a tax-free Roth account!

10/27/2025

A concerning trend is emerging as a significant portion of the Peak 65® generation lacks sufficient protected income, putting them at risk of outliving their savings. So important to do retirement planning and the savings that accompanies it. Most retirees don't ever do a retirement plan. That's a plan to fail!

Unlike older retired Baby Boomers, the majority of Peak 65’ers don’t have pensions, which used to help fill that gap left by Social Security. Our current retirement system is obsolete and it’s time for a new retirement security framework.

10/24/2025

2026 Social Security COLA increased announced. It's 2.8% up from 2.5% in 2025

Social Security benefits and Supplemental Security Income (SSI) payments for 75 million Americans will increase 2.8 percent in 2026. On average, Social Security retirement benefits will increase by…

10/15/2024

The Social Security Administration has announced the cost of living increase for benefits received beginning 2025. It's 2.5%, lowest in 4 years due to steady decline in overall inflation. Yes, you are correct, most retirees experience inflation above the 2.5% during their retirement years, since most of their expenses are health and shelter, both of which exceed overall reported inflation. Another reason to make sure you have a financial plan drafted and updated during your working years, so you build up sufficient savings to make up for the shortfall in Social Security retirement benefits.

Cost-of-Living Adjustment (COLA) Information

11/21/2023

IRS announces 2024 Retirement Plan contribution cost-of-living increases. Feel free to contact us regarding how you may be able to contribute up to $76,500 to your company retirement plan in 2024. If you participate in a high deductible health plan, try to contribute up to the max to your HSA account, since its triple-tax free when distributions are made for qualified healthcare expenses any time during your lifetime. It's even better than a tax-free Roth account!

10/31/2023

The new Series I Bond rate for Nov 1-April 30, 2024 has been announced. 5.27% for new purchases now through April, which consists of 1.3% fixed rate and 3.94% variable rate.

We announce the fixed rate every May 1 and November 1. That fixed rate then applies to all I bonds that we issue during the next 6 months.

07/11/2023

I'm proud to say North Carolina repeats as CNBC's Top State for business. It's been a good balance of Democrat Governor and Republican House and Senate, proof that balance and compromise really works! Congrats North Carolina.

North Carolina is again America's Top State for Business, led by a strong economy and workforce, earning the rare repeat No. 1 finish in the annual rankings.

12/03/2022

Sometimes a picture says it all when it comes to bull or bear market rallies.