Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Elliot Raphaelson
The Savings Game: Don’t wait to complete Medicare enrollment for 2027
Getting your Trinity Audio player ready... For individuals who plan to enroll in Medicare for 2027, or who are already enrolled but wish to make changes, I highly recommend that you read the official government-issued handbook ”Medicare and You 2027.” The easiest way to access it is to type the title into the search field of an internet search engine such as Google. Likely the first link will be to a PDF document of the 128-page guide on the website medicare.gov.
The Savings Game: Don't wait to complete Medicare enrollment for 2027
For individuals who plan to enroll in Medicare for 2027, or who are already enrolled but wish to make changes, I highly recommend that you read the official government-issued handbook "Medicare and You 2027." The easiest way to access it is to type the title into the search field of an internet search engine such as Google. Likely the first link will be to a PDF document of the 128-page guide on the website medicare.gov.
Savings Game: The importance of power of attorney
Getting your Trinity Audio player ready... One of the most important components of estate planning is establishing a power of attorney. When a healthy individual suddenly becomes incapacitated, leaving them unable to make important decisions, it is important to have a financial advocate assigned to look out for their interest.
The savings game: The importance of power of attorney
One of the most important components of estate planning is establishing a power of attorney. When a healthy individual suddenly becomes incapacitated, leaving them unable to make important decisions, it is important to have a financial advocate assigned to look out for their interest.
The Savings Game: How to compute federal taxes owed without incurring a penalty
Getting your Trinity Audio player ready... In a recent article published in the Wall Street Journal, Laura Saunders pointed out that many taxpayers are still waiting for their tax refunds from their tax return from 2025. That is consistent with the mail I receive from my readers. Many are still waiting for their tax refund, as I am.
The savings game: How to compute federal taxes owed without incurring a penalty
In a recent article published in the Wall Street Journal, Laura Saunders pointed out that many taxpayers are still waiting for their tax refunds from their tax return from 2025. That is consistent with the mail I receive from my readers. Many are still waiting for their tax refund, as I am.
The Savings Game: How to educate yourself in personal finance
Getting your Trinity Audio player ready... Because I write a personal finance column each week, and respond to all the emails I receive from readers, I subscribe to many publications and read all sorts of new books by authors I respect. When I read a new book that I think will help my readers, I try to review it in my column. When I receive an inquiry from a reader who needs advice on a subject that is important, and I don’t have the expertise to answer it, I will ask experts for their advice.
The savings game: How to educate yourself in personal finance
Because I write a personal finance column each week, and respond to all the emails I receive from readers, I subscribe to many publications and read all sorts of new books by authors I respect. When I read a new book that I think will help my readers, I try to review it in my column. When I receive an inquiry from a reader who needs advice on a subject that is important, and I don't have the expertise to answer it, I will ask experts for their advice.
The Savings Game: Should you hire someone to manage your portfolio?
Getting your Trinity Audio player ready... Many readers ask me if I recommend that they hire a financial firm to manage their portfolio. I hedge on my answer to that question. The reason I hedge is because there is no simple answer.
The savings game: Should you hire someone to manage your portfolio?
Many readers ask me if I recommend that they hire a financial firm to manage their portfolio. I hedge on my answer to that question. The reason I hedge is because there is no simple answer. Obviously, if an advisory firm does a very good job of managing your portfolio, and the return is better than you can do on your own, taking into consideration the 1% (or more) annual fee you incur, then the decision to hire an advisory financial firm to manage your portfolio makes some sense.
The Savings Game: Should you hire someone to manage your portfolio?
Many readers ask me if I recommend that they hire a financial firm to manage their portfolio. I hedge on my answer to that question. The reason I hedge is because there is no simple answer. Obviously, if an advisory firm does a very good job of managing your portfolio, and the return is better than you can do on your own, taking into consideration the 1% (or more) annual fee you incur, then the decision to hire an advisory financial firm to manage your portfolio makes some sense.
The savings game: A portfolio recommendation
In general, I rarely make recommendations regarding individual stocks. For most of my equity investments, I usually recommend low-cost mutual funds and exchange-traded funds that contain diversified companies that have demonstrated a long-term history of income growth. Today, I am recommending a stock listed on the New York Exchange, with management that has demonstrated that it has a product that has helped thousands of individuals with glaucoma, and will continue to do so on a long-term basis.
The Savings Game: A portfolio recommendation
In general, I rarely make recommendations regarding individual stocks. For most of my equity investments, I usually recommend low-cost mutual funds and exchange-traded funds that contain diversified companies that have demonstrated a long-term history of income growth. Today, I am recommending a stock listed on the New York Exchange, with management that has demonstrated that it has a product that has helped thousands of individuals with glaucoma, and will continue to do so on a long-term basis.
The Savings Game: IRA distributions, survivor benefits and other reader questions
Getting your Trinity Audio player ready... Q: I have municipal bonds in my traditional IRA accounts. Is the interest I receive nontaxable? I am older than 73, and required to take required minimum distributions from my IRA yearly. A: Unfortunately, the interest you earn on municipal bonds will be taxable. Your custodian will notify you by January 31 of the year for which the required minimum distribution (RMD) is due.
The Savings Game: The advantages of Roth accounts
Getting your Trinity Audio player ready... It may be true that your marginal tax bracket is likely the lowest tax rate you will ever have when you start working, but that is only one of the reasons you should NEVER make a traditional IRA or 401(k) contribution if you can make a Roth contribution. If there is one investment decision I regret, it is not opening a Roth account earlier. In addition, I regret not converting more of my traditional IRA accounts to Roth accounts.
The savings game: IRA distributions, survivor benefits and other reader questions
Q: I have municipal bonds in my traditional IRA accounts. Is the interest I receive nontaxable? I am older than 73, and required to take required minimum distributions from my IRA yearly. A: Unfortunately, the interest you earn on municipal bonds will be taxable. Your custodian will notify you by January 31 of the year for which the required minimum distribution (RMD) is due. That RMD will be based on the value of all of all your investments in your traditional IRA accounts and your age.
The Savings Game: The advantages of Roth accounts
It may be true that your marginal tax bracket is likely the lowest tax rate you will ever have when you start working, but that is only one of the reasons you should NEVER make a traditional IRA or 401(k) contribution if you can make a Roth contribution. If there is one investment decision I regret, it is not opening a Roth account earlier. In addition, I regret not converting more of my traditional IRA accounts to Roth accounts.
The Savings Game: Municipal bond education
Getting your Trinity Audio player ready... Many of my readers have diversified portfolios that contain investments in fixed income investments such as long-term Treasury bonds, individual municipal bonds, insured municipal bonds, and municipal bond funds. Personally, I have always maintained some of my portfolio in fixed income investments, including municipal bond investments.
The Savings Game: Municipal bond education
Many of my readers have diversified portfolios that contain investments in fixed income investments such as long-term Treasury bonds, individual municipal bonds, insured municipal bonds, and municipal bond funds. Personally, I have always maintained some of my portfolio in fixed income investments, including municipal bond investments.
The Savings Game: A better way to collect (and pay off) consumer debt
Getting your Trinity Audio player ready... It is no secret that too many U.S. consumers have been using credit cards indiscriminately in the last few years, and as a result are having difficulty paying off their debts. Finance corporations, in turn, have been using debt collectors more than ever before because too many card-holders are unable to even make minimum payments.
The Savings Game: Social Security regulations are complex
Getting your Trinity Audio player ready... Social Security regulations are complex. I have been answering questions about Social Security for 15 years now, and it is not unusual for a reader to indicate that they have been misinformed by a Social Security representative. If you believe that you have been given incorrect information, don’t hesitate to ask for a supervisor, or discuss the issue with a financial planner or CPA knowledgeable about Social Security issues.
The Savings Game: A better way to collect (and pay off) consumer debt
It is no secret that too many U.S. consumers have been using credit cards indiscriminately in the last few years, and as a result are having difficulty paying off their debts. Finance corporations, in turn, have been using debt collectors more than ever before because too many card-holders are unable to even make minimum payments. My aim in this column is to offer some advice to both financial controllers who are not receiving acceptable debt payments and debtors who are facing debt collectors.
The Savings Game: How to educate your IRA beneficiaries
Getting your Trinity Audio player ready... Many readers of my column ask me specific questions regarding beneficiaries of their individual retirement accounts. I do my best to answer the questions. However, it’s important that owners of IRAs themselves take steps to inform and educate their beneficiaries about what their options will be once they inherit the accounts. The regulations that apply to individuals who inherit IRAs are complex.
The savings game: Social Security regulations are complex
Social Security regulations are complex. I have been answering questions about Social Security for 15 years now, and it is not unusual for a reader to indicate that they have been misinformed by a Social Security representative. If you believe that you have been given incorrect information, don't hesitate to ask for a supervisor, or discuss the issue with a financial planner or CPA knowledgeable about Social Security issues.
The Savings Game: Difference between company plans and IRAs regarding spousal rights
Getting your Trinity Audio player ready... A recent article in IRA expert Ed Slott’s monthly publication points out a major difference between the regulations associated with IRAs and company plans when it comes to a spouse’s rights. In this article, Slott uses the example, the Lyon case, in which the court in Wisconsin ruled that because paperwork was missing and the spousal waiver was not properly filed, the state court ruled that the terms of the beneficiary form were not valid.
The savings game: How to educate your IRA beneficiaries
Elliot Raphaelson, Tribune Content Agency Many readers of my column ask me specific questions regarding beneficiaries of their individual retirement accounts. I do my best to answer the questions. However, it's important that owners of IRAs themselves take steps to inform and educate their beneficiaries about what their options will be once they inherit the accounts. The regulations that apply to individuals who inherit IRAs are complex.
The savings game: Difference between company plans and IRAs regarding spousal rights
Elliot Raphaelson, Tribune Content Agency A recent article in IRA expert Ed Slott's monthly publication points out a major difference between the regulations associated with IRAs and company plans when it comes to a spouse's rights. In this article, Slott uses the example, the Lyon case, in which the court in Wisconsin ruled that because paperwork was missing and the spousal waiver was not properly filed, the state court ruled that the terms of the beneficiary form were not valid.
Invest in equities rather than bonds
As a conservative investor, I generally maintain a 50/50 ratio of equities and bonds in my portfolio. I have recently increased the percentage of equities in my portfolio. Because I am well past 73 and still have some traditional (non-Roth) IRAs in my portfolio, I do have to take annual required minimum distributions (RMDs). When I take RMDs in 2026, I have taken withdrawals primarily from the bond and target funds portion of my portfolio.
The Savings Game: Review of the Roth IRA 5-year rules
Getting your Trinity Audio player ready... In a recent article in “Retirement Watch,” published by Bob Carlson, he clarified when distributions from Roth accounts are tax free and when they are not. It is important for you to understand when distributions from Roth accounts are not tax free. If you understand the two different five-year rules associated with Roth accounts, you should be able to avoid any taxes associated with withdrawals from your Roth accounts.
The Savings Game: Review of the Roth IRA 5-year rules
In a recent article in "Retirement Watch," published by Bob Carlson, he clarified when distributions from Roth accounts are tax free and when they are not. It is important for you to understand when distributions from Roth accounts are not tax free. If you understand the two different five-year rules associated with Roth accounts, you should be able to avoid any taxes associated with withdrawals from your Roth accounts.
The Savings Game: Trump account update
Getting your Trinity Audio player ready... In a previous column, I discussed some of the features of Trump accounts. In this column I will provide additional information based on the reporting of Robert Carlson, in his valuable newsletter Retirement Watch. As I pointed out in a previous column, the One Big Beautiful Bill Act contained a provision allowing an adult to establish a Trump account for any child under 18 who has a valid Social Security number by filing IRS Form 4547 with a Form 1040.
The Savings Game: Mistakes to avoid with inherited retirement plans and account rollovers
The regulations associated with inherited IRAs and IRA rollovers are complex. Unfortunately, many mistakes are irreversible. In a recent monthly column, IRA expert Ed Slott discussed some of the mistakes that can easily be made that cannot be fixed, and they can be very expensive. Only a surviving spouse can roll over an inherited IRA into their own IRA account.
The Savings Game: Ratio of equities to bonds in your portfolio
Getting your Trinity Audio player ready... I am a conservative investor, and I generally maintain a 50/50 ratio of equities and bonds in my portfolio. I have recently increased the percentage of equities in my portfolio. Because I am well past 73, and I still have some traditional (non-Roth) IRAs in my portfolio, I do have to take annual required minimum distributions (RMDs). When I do take RMDs in 2026, I have taken withdrawals primarily from the bond and target funds portion of my portfolio.
The Savings Game: Trump account update
In a previous column, I discussed some of the features of Trump accounts. In this column I will provide additional information based on the reporting of Robert Carlson, in his valuable newsletter Retirement Watch. As I pointed out in a previous column, the One Big Beautiful Bill Act contained a provision allowing an adult to establish a Trump account for any child under 18 who has a valid Social Security number by filing IRS Form 4547 with a Form 1040.
The Savings Game: Avoid early withdrawal penalties with CDS in your IRA account after you reach 73
Getting your Trinity Audio player ready... A reader wrote to me recently regarding penalties he is facing with regard to required minimum distributions (RMDs) from his IRA account. Apparently, all of his IRAs are invested in CDs, and many of his CDs are not maturing this year. He is older than 73, and he has told his custodian to withdraw at year-end the required amount from his CDs in order to meet the RMDs. He bought all his IRAs in CDs through his credit union.
The Savings Game: Ratio of equities to bonds in your portfolio
I am a conservative investor, and I generally maintain a 50/50 ratio of equities and bonds in my portfolio. I have recently increased the percentage of equities in my portfolio. Because I am well past 73, and I still have some traditional (non-Roth) IRAs in my portfolio, I do have to take annual required minimum distributions (RMDs). When I do take RMDs in 2026, I have taken withdrawals primarily from the bond and target funds portion of my portfolio.
The Savings Game: HSAs are a very effective retirement planning tool
Getting your Trinity Audio player ready... In previous articles, I have pointed out the several advantages of health savings accounts (HSAs). In a recent article, Forbes contributing writer Bob Carlson pointed out that by the end of 2026, it is expected that there will be approximately 44 million HSA accounts; at the end of 2022, there were approximately 35 million. The amount of money already invested in 2026 is approximately $159 billion; in 2022, the amount invested was $104 billion.
The Savings Game: Avoid early withdrawal penalties with CDS in your IRA account after you reach 73
A reader wrote to me recently regarding penalties he is facing with regard to required minimum distributions (RMDs) from his IRA account. Apparently, all of his IRAs are invested in CDs, and many of his CDs are not maturing this year. He is older than 73, and he has told his custodian to withdraw at year-end the required amount from his CDs in order to meet the RMDs. He bought all his IRAs in CDs through his credit union.
Watch these threats to lifetime income security
Bob Carlson is a recognized expert on retirement. I reviewed one of his books very favorably a few years ago. He also publishes “Retirement Watch,” an excellent monthly publication which covers the latest regulatory changes that impact retirement and estate planning. In a recent publication Carlson sent to his subscribers, he discussed six threats to lifetime income security. Following are some of his observations and my own regarding these threats.
The Savings Game: HSAs are a very effective retirement planning tool
In previous articles, I have pointed out the several advantages of health savings accounts (HSAs). In a recent article, Forbes contributing writer Bob Carlson pointed out that by the end of 2026, it is expected that there will be approximately 44 million HSA accounts; at the end of 2022, there were approximately 35 million. The amount of money already invested in 2026 is approximately $159 billion; in 2022, the amount invested was $104 billion.
The Savings Game: Retroactive benefits under Social Security
Getting your Trinity Audio player ready... In her latest monthly Social Security Advisor newsletter, Heather Schreiber discusses “retroactive benefits.” These are lump-sum payments covering past months during which a person was eligible for a benefit for which they had not yet applied. An example is when a person applies for a disability benefit; they can apply for a retroactive SSDI benefit going back up to 12 months if they were disabled at the time.
The Savings Game: Retroactive benefits under Social Security
In her latest monthly Social Security Advisor newsletter, Heather Schreiber discusses “retroactive benefits.” These are lump-sum payments covering past months during which a person was eligible for a benefit for which they had not yet applied. An example is when a person applies for a disability benefit; they can apply for a retroactive SSDI benefit going back up to 12 months if they were disabled at the time.
The Savings Game: 401(k) to Roth IRA rollover rules
Getting your Trinity Audio player ready... Many employers now offer 401(k) Roth options to their employees. If your employer does, you should definitely consider taking advantage because of the tax advantages you will receive. When you reach age 73, when required minimum distributions (RMDs) come into play, if a significant amount of your retirement plan assets are not in Roth accounts, you will be facing significant income taxes.
The Savings Game: 401(k) to Roth IRA rollover rules
Many employers now offer 401(k) Roth options to their employees. If your employer does, you should definitely consider taking advantage because of the tax advantages you will receive. When you reach age 73, when required minimum distributions (RMDs) come into play, if a significant amount of your retirement plan assets are not in Roth accounts, you will be facing significant income taxes. So, you should definitely consider using the Roth 401(k) option if your employer offers it.
The Savings Game: Avoiding early withdrawal penalties
Getting your Trinity Audio player ready... In a recent monthly newsletter, IRA expert Ed Slott discussed the ways in which investors can avoid the early withdrawal penalty when they withdraw assets from their retirement accounts prior to age 59 1/2. He indicated when the regulations apply to both IRAs and other retirement plans, and when they apply to only one.
The Savings Game: Tax issues to keep in mind in 2026
Getting your Trinity Audio player ready... Now that your 2025 tax return has been filed — hopefully so, anyway — it’s possible you’d rather think of almost anything else. But while the topic is fresh in your mind, it’s worth considering changes in tax regulations that will affect your 2026 return. —Itemized return vs. standard deduction: Because of the tax law regulation changes in 2025, many tax-payers will find that an itemized return will be more tax-effective than using the standard deduction.
The Savings Game: Avoiding early withdrawal penalties
In a recent monthly newsletter, IRA expert Ed Slott discussed the ways in which investors can avoid the early withdrawal penalty when they withdraw assets from their retirement accounts prior to age 59 1/2. He indicated when the regulations apply to both IRAs and other retirement plans, and when they apply to only one.
The Savings Game: Tax issues to keep in mind in 2026
Now that your 2025 tax return has been filed — hopefully so, anyway — it's possible you'd rather think of almost anything else. But while the topic is fresh in your mind, it's worth considering changes in tax regulations that will affect your 2026 return. —Itemized return vs. standard deduction: Because of the tax law regulation changes in 2025, many tax-payers will find that an itemized return will be more tax-effective than using the standard deduction.
The Savings Game: Planning for changes in Social Security
Getting your Trinity Audio player ready... It is no secret that unless Congress stops procrastinating and passes significant policy modifications to existing Social Security regulations, benefits will be seriously reduced. In less than 10 years, there will likely not be enough workers paying into Social Security to fully support the number of workers who will be retiring at existing benefit levels.
The savings game: Planning for changes in Social Security
Elliot Raphaelson, Tribune Content Agency It is no secret that unless Congress stops procrastinating and passes significant policy modifications to existing Social Security regulations, benefits will be seriously reduced. In less than 10 years, there will likely not be enough workers paying into Social Security to fully support the number of workers who will be retiring at existing benefit levels.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with Elliot
Contact Elliot, search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack