Ultimate Guide to Understanding the Impact of Social Security Benefits

Social Security benefits bulmanwealth.com

If you are nearing retirement or are retired, congratulations on your accomplishment! It’s an exciting time as you prepare for the next stage of your life without the daily pressure of commuting to work. Assuming you are 65, you should consider when to take your Social Security benefits as you consider and plan for retirement. […]

A Refresher on the SECURE Act 2.0 and a Recent Update to It

A Refresher on the SECURE Act 2.0 and a Recent Update to It Bulman Wealth

The SECURE Act 2.0 was a major change in legislation passed in 2022 that drastically affected many areas of retirement planning.[1] It changed rules for many aspects of financial planning concerning retirement, but some of the most important changes were that it: Pushed back the age of RMDs[1] Changed some rules for catch-up contributions[1] Changed […]

What Are COLAs and How Do They Affect Retirement

What Are COLAs and How Do They Affect Retirement Bulman Wealth

If you are currently receiving Social Security or you are considering how Social Security might factor into your retirement plan, it’s important for you to understand what COLA stands for. You may have seen the acronym in various information about Social Security, and you may have wondered what it meant. Well, let’s answer your questions […]

Debt Ceiling Explained: What You Need to Know

Debt Ceiling Explained: What You Need to Know Bulman Wealth

Basics of the Debt Ceiling The national debt ceiling pertains to the maximum amount of funds the US Government can borrow to cover its expenditures. These expenses include various items such as military salaries and purchases, tax refunds, Social Security and Medicare benefits, and interest payments on any outstanding debt. The country currently operates with […]

Struggling to Save? You Might Not Be Alone

Struggling to Save? You Might Not Be Alone Bulman Wealth

The current rate of monthly savings across America is currently at 4.6%. This means that most Americans are saving about 4.6% of their monthly income. This number is unusual as the average amount is almost double that number at 8%. Also, in June, this number dipped to a 15-year low of 2.7%.[1] Economists are noting […]

Retirement Planning and Current Economic Conditions

Retirement Planning and Current Economic Conditions Bulman Wealth

The economic state we are in right now is intricate and, in some ways, has never been experienced before. The coronavirus has caused massive alterations in how the market functions, and we need to change our approach to retirement planning. Inflation Government payouts were a prominent feature of the pandemic. However, the danger is that […]

What is a “Rolling Recession,” and Are We in One?

What is a "Rolling Recession," and Are We in One? Bulman Wealth

It is obvious that the economic situation following the coronavirus outbreak has been very erratic. Despite the fact that people have been discussing the possibility of a recession for some time now, we have not yet fully experienced one. Generally speaking, a recession is characterized by a continuous and widespread economic decline. [1] And although […]

Ep 14: Understanding The Silicon Valley Bank Collapse and FDIC Insurance

Following the collapse of Silicon Valley bank, you have probably heard a lot of talk about America’s banking situation in the last few weeks. Today, we are here to unpack what happened with the Silicon Valley Bank collapse and whether we should be concerned about other banks as well. We will also take a deeper look at banking insurance and discuss what FDIC insurance covers and what it does not cover.

Prepare for Social Security with the Basics

Prepare for Social Security with the Basics Bulman Wealth

Social Security is an important source of retirement funds for many people in the United States; as of September 2022, over 70 million people were in receipt of these benefits.[1] Many people are not aware of how or when to begin utilizing this source of income. As you age and come closer to retirement, the […]

The Economy Threw a Curveball at Retirees in 2022

The Economy Threw a Curveball at Retirees in 2022 Bulman Wealth

The economy in 2022 posed difficulties for a lot of people, and retirees have had it even harder. The impact of the Russia-Ukraine conflict, the aftermath of the pandemic on the economy, as well as the increase in inflation and interest rates, have been felt globally. As we start off a new year, it is […]