over 55






Glass Half Full

We now have a new administration in Washington and regardless of your political leanings, there is some good news for baby boomers - those who are retired and those about to retire in a few years.

Taxes - One of Trump's tax plans would have a single filer with an adjusted gross income (AGI) of under $25,000 pay no taxes. A married couple filling jointly could together have an AGI of under $50,000 and pay no taxes. This would mean that seniors in low income tax brackets could possibly be looking at tax-free income in retirement.

Revenue - Speaking of taxes, just a 1% increase in employment would increase revenue substantially. I love the idea of more young people contributing to the federal budget. An increase in Social Security and Medicare revenue is good for everyone. President Trump's focus on job growth is critical.

Protect Medicare - In total, Obamacare raids Medicare by $716 billion from 2013 to 2022. Despite Medicare facing a 75-year unfunded obligation of $37 trillion, Obamacare uses the savings from the cuts in Medicare reimbursement to pay for other provisions in Obamacare, not to help shore up Medicare's finances. While we don't know what will replace Obamacare, let's hope that the repeal will bring that money back to the Medicare budget. If the reimbursement for doctors and hospitals falls any further, we'll be driving 50 miles or more to find a Medicare facility.

Regulations - While building regulations (permits, fees, etc.) are generally countywide or statewide, the EPA (think environmental impact studies), is largely responsible for the lack of sufficient new housing. Not only do we need more home development to address a growing population, but we have a critical shortage in senior housing (independent living, assisted living, skilled nursing). If regulations were relaxed/removed, developers would invest in all types of housing. I believe the new EPA leadership will focus on making these changes.

In summary, I prefer to see that the "glass is half full, not half empty" with regards to the next 12 to 48 months. Stay positive.



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