strategic planning associates

Client-focused financial planning
for your future

At Strategic Planning Associates, we understand that making sound financial decisions can be daunting. We want to make this process a lot easier and less stressful for our clients.

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services tailored to your unique needs, aspirations, and dreams

Client-focused financial planning for your future

As fiduciaries, we are dedicated to providing comprehensive, personalized financial advice and guidance to help our clients achieve their goals. It is important to us that our clients understand the substance of their plan and how and why we believe the recommended strategies will work for them.
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A Strategic Approach Beyond The Ordinary

Are Your Retirement Savings On Track?

Maintain Income For Life With strategic planning

Strategic Planning Associates

Interested in attending an educational retirement planning seminar or event at no cost or obligation?

At Strategic Planning Associates, we want to equip you with the insights and resources necessary for a prosperous retirement journey. Join one of our workshops today and embark on the path to your retirement dreams.

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See How We Help Our Clients

Client-focused financial planning for your future

We are dedicated to providing holistic, personalized financial advice and guidance to help our clients achieve their goals. We believe that a well-informed client is a confident client, and we are committed to equipping our clients with the knowledge and resources they need to make informed decisions about their finances.

Financial Planning

We'll assist in helping you make knowledgeable decisions and navigate the complexities of financial planning to ensure you are well-prepared for your future.

how?

  • By understanding you and your financial circumstances
  • Identifying your goals and aspirations
  • Developing a plan to meet your goals
  • Assisting with an action plan
  • Monitoring that plans effectiveness over time

Wealth Management

We can assist by exploring various risk categories and improving your understanding of them. This process can grant you the peace of mind you rightly deserve.

how?

  • Assessing your goals and values
  • By understanding the rate of return you need to average in
  • Order to reach your retirement goals
  • Creating a client centered process to build, protect and transition your wealth
  • Considering the effects of your retirement, tax and legacy plans and their effectiveness today and into the future.

Retirement Planning

In the current landscape, retirement takes on different meanings for each individual. What it truly signifies to us is the ability for our clients to live life according to their own terms at the standard of living that works for them.

how?

  • Identifying your financial goals
  • Considering your lifestyle choices in retirement
  • How should you best use your IRAs, Rollovers and RMDs
  • How will a long term care event be leveraged
  • What is your legacy plan for your family
  • Creating a roadmap to address these issues

let us help secure your financial future with irmaa

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Have You Ran An IRMAA Social Security Stress Test?

IRMAA applies to both Medicare Parts B & D. If you’re hit with IRMAA, you’ll pay a higher monthly premium for these parts of Medicare. The surcharge is based on a sliding scale – the more you make, the more you pay. Book your complimentary IRMAA Consultation now to estimate how IRMAA can significantly reduce your Social Security Net Benefit in retirement
book free IRMAA consult

strategic planning associates

Still have questions? Contact us today to secure your financial future

We offer a specialized financial planning approach that is unique to each of our clients needs. Our process allows us to take the time to understand your financial goals, explain all of your options, and help lead you in the right direction.
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strategic planning associates

Client- focused financial planning for your future.

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You have questions. We have answers.

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  • 112 Burnett Street
    Granby, MA 01033
We do not offer every plan available in your area. Any information we provide is limited to the plans we offer. The content of this website is developed from sources believed to be accurate and complete; however, no guarantee can or is given for such accuracy or completeness. Nor is the information in this material intended as tax or legal advice. Please consult your own legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale, or the solicitation of such an offer, of any security, insurance product, or annuity in any jurisdiction in which the persons represented on this site are not appropriate licensed, registered, appointed, or otherwise qualified by law and regulation to make or solicit such purchases and sales. For complete information on our firm please refer to ADV for Strategic Planning Associates.
How will IRMAA impact your retirement
Book your IRMAA Consultation

Have You Ran An IRMAA Social Security Stress Test?

IRMAA applies to both Medicare Parts B & D. If you’re hit with IRMAA, you’ll pay a higher monthly premium for these parts of Medicare. The surcharge is based on a sliding scale – the more you make, the more you pay. Book your complimentary IRMAA Consultation now to estimate how IRMAA can significantly reduce your Social Security Net Benefit in retirement
Book Your complimentary IRMAA Consultation
By booking your free consult, you get access to our planning knowledgebase
Get Your FREE IRMAA Stress Test
Work with us to run your free Medicare and Social Security Stress Test to estimate your IRMAA exposure.
Easily Identify Problem Areas
Once we identify your IRMAA exposure, we can then identify potential avenues to mitigate IRMAA and insulate your retirement plan.

What Is IRMAA and How Does It Work?

If you’re a higher-income Medicare beneficiary, you may have heard of IRMAA – the income-related monthly adjustment amount. It’s a surcharge added to your monthly Medicare premium based on your income. IRMAA stands for Income-Related Monthly Adjustment Amount. It’s an extra fee tacked onto your Medicare Part B and Part D premiums if your modified adjusted gross income (MAGI) exceeds certain thresholds. Think of it as a “wealth tax” for Medicare.

Income Brackets and IRMAA Surcharge Amounts for 2024

Medicare recently released the income brackets and corresponding IRMAA surcharges for 2024. If your modified adjusted gross income (MAGI) from 2022 falls into one of these brackets, you’ll owe the additional premium amounts listed. For single taxpayers, the income ranges and monthly surcharges are: – $97,000 to $123,000: $65.90 for Part B, $12.20 for Part D – $123,000 to $153,000: $164.80 for Part B, $31.50 for Part D – $153,000 to $183,000: $263.70 for Part B, $50.70 for Part D – $183,000 to $500,000: $362.60 for Part B, $70.00 for Part D – Above $500,000: $395.60 for Part B, $76.40 for Part D

How to Determine if You’ll Pay IRMAA

Wondering if you’ll be on the hook for those hefty IRMAA surcharges? Here’s how to find out. The Social Security Administration (SSA) is responsible for determining IRMAA each year. They use your tax returns to calculate whether you owe the extra premium and how much. If you’re flagged for IRMAA, SSA will send you an initial determination notice. This letter explains why you’re subject to IRMAA, how much more you’ll pay, and what to do if you disagree with the determination.

Options for Paying IRMAA Premiums

If you’ve been hit with IRMAA surcharges, you have a few options for paying the extra premiums: If you’re already receiving Social Security retirement benefits, the easiest way to pay IRMAA is through automatic deduction. SSA will withhold your IRMAA premiums from your monthly benefit check. You don’t have to do anything – it happens automatically.

How IRMAA Can Impact Your Retirement Accounts

As if paying more for Medicare wasn’t bad enough, IRMAA can also throw a wrench into your retirement planning. Many retirees rely on income from IRAs, 401(k)s, and other tax-deferred accounts. But taking too much out of those accounts in a single year can push you into a higher IRMAA bracket.
Book your complimentary consultation to learn how you can protect your wallet and enjoy retirement on your terms.
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