McCullough & Associates Blog


Oct 17, 2017

Social Security Benefits to Increase in 2018

The Social Security Administration announced on Friday, October 13, 2017, that the monthly Social Security benefits for more than 66 million Americans will increase 2.0 percent in 2018. The 2.0 percent cost-of-living adjustment (COLA) will begin with benefits payable to Social Security beneficiaries in January 2018. This is the largest COLA we have seen since 2012.

Some other adjustments…

Oct 03, 2017

Reasons to Review Your Annual Social Security Statement Now

Did you know that determining whether your Social Security earnings record is correct falls squarely on your shoulders—not your current or previous employer(s) or the Social Security Administration? Making sure your information is accurate, and correcting mistakes on your record as soon as possible is critical because your Social Security record is the basis for the computation of your benefit amount…

Sep 26, 2017

Your Finances Need an Emergency Kit Too

When we think of emergency preparedness, flashlights, bottled water, and first aid kits immediately come to mind. While having a physical emergency supply kit on hand is an important first step when disaster hits, being prepared financially is just as critical for reducing stress and taking action when the unexpected occurs. Start by gathering important financial information and copies of documents,…

Sep 19, 2017

Important Information Concerning Recent Equifax News

We want to share some information with you regarding the recent news reports related to Equifax.

On Thursday, September 7, Equifax announced a cybersecurity incident that could potentially impact approximately 143 million U.S. consumers. Criminals gained access to certain files, the information in which primarily includes names, Social Security numbers, dates of birth, as well as other information.

Although…

Sep 01, 2017

3rd Quarter Estimated Tax Payment Reminder

This is a reminder that your third quarter federal and state tax estimates are due on or before September 15, 2017. Please use your pre-printed forms and mail with your checks to the address indicated on the estimate vouchers. You should refer to your 2016 tax folder for this information. Also, be sure to write your social security number and "2017 1040-ES" on the memo line of your check. 

If…

Aug 24, 2017

A QCD can remedy your RMD tax burden

Year-end is a critical time for retirees over age 70 ½ with qualified retirement accounts who are subject to required minimum distributions (RMDs). To avoid a hefty penalty (50 percent of the amount that should have been withdrawn), your RMD must be taken from your retirement account on an annual basis, by calendar year-end. (This differs from the deadline governing your first RMD, which must be…

Aug 16, 2017

Back to School

As you send your children back to school to prepare for their future, it’s equally important to prepare for yours. Many parents devote so much of themselves and their resources to their kids and they sometimes overlook their own needs, such as planning for a secure retirement.

While you may be contributing to your employer’s retirement plan, you may also need to save additional money to…

Aug 02, 2017

Unclaimed Property: Missouri's Largest Lost & Found

The Missouri State Treasurer administers Unclaimed Property for Missouri. Unclaimed Property comes from financial institutions, insurance companies, public agencies and other business entities after there has been no documented transaction or contact with the owner for a statutorily-defined period of time, generally five years. The Treasurer currently holds more than $942 million in unclaimed assets…

Jul 11, 2017

Understanding Medicare

The time may be approaching for you to enjoy the rewards that come with qualifying for Medicare. While this health insurance program does not cover everything, it does help with health care costs for older Americans. We want to ensure you are well-informed on the topic of Medicare and the various parts and choices for coverage and suggest that you have a look at this guide by TransAmerica,

Jun 23, 2017

Four Really Good Reasons to Invest

Forty-eight percent of Americans do not own any stocks or stock-related investments, such as mutual funds, according to a recent Gallup poll.¹

Individuals may cite different reasons for not investing, but with important long-term financial goals, such as retirement, in the balance, the reasons may not be good enough.

Why Invest?

  • Make Money on Your Money

You…