TLC Blog

Justin Seitz to Throw Out the First Pitch at the Cincinnati Reds Game — June 16, 2026

We are thrilled to share some incredible news! Justin Seitz of The Legacy Council has been selected to throw out the ceremonial first pitch at a Cincinnati Reds game at Great American Ball Park on Tuesday, June 16, 2026 — and he is beyond honored by the recognition.

The occasion is a momentous one: the Better Business Bureau's (BBB) 100th Anniversary celebration. To mark this historic milestone, the BBB handpicked Justin — from among thousands of accredited businesses across the Greater Cincinnati region — to represent ethical business on the field during the pre-game ceremony honoring a century of consumer trust and business integrity.

For Justin, this recognition goes far deeper than baseball. Since founding The Legacy Council alongside his father Jack, Justin has been guided by a simple belief: do right by your clients, every single time. That commitment to transparency, honesty, and putting clients first is exactly what the BBB has championed for 100 years — and being selected to represent that mission at Great American Ball Park is something Justin will never forget.

"Being chosen from thousands of businesses to throw out the first pitch in honor of the BBB's 100th anniversary is truly humbling," Justin said. "Jack and I have always believed that trust is the foundation of everything we do. This is a recognition of our clients — the people who have believed in us — and we are incredibly grateful."

The Legacy Council holds an A+ BBB Accredited rating and remains committed to the highest standards of ethical conduct in every client relationship. If you're heading to the Reds game on June 16th, come say hello!

Is the AI Bubble About to Burst — And Is Your Retirement at Risk?

If you have a 401(k) or IRA, there's a good chance you are far more exposed to artificial intelligence stocks than you realize — and that exposure could put your retirement at serious risk.

AI stocks like NVIDIA, Microsoft, Meta, and Apple have surged to valuations that haven't been seen since the dot-com bubble of the late 1990s. The S&P 500 is now more concentrated than at any point in the last 50 years, with the top 10 AI-linked companies accounting for roughly 40% of the entire index. Forward earnings ratios have hit 23x — near dot-com bubble levels — and an estimated 80% of 2026 S&P gains have been driven by AI-related stocks.

The Hidden Danger in Your Portfolio

Here's what most people don't know: if your retirement savings are in a 401(k) or IRA invested in index funds or target-date funds, roughly 40 cents of every dollar you've contributed automatically flows into AI-heavy mega-cap tech companies — whether you chose that or not. Most investors think they're diversified. In reality, they're heavily concentrated in the same handful of AI stocks.

Why Pre-Retirees Need to Act Now

A 30-year-old can ride out a market correction. A 60-year-old cannot. When the dot-com bubble burst, the NASDAQ lost 78% of its value and many retirees never fully recovered. The conditions today — euphoric valuations, rapid capital inflows, and retail mania — mirror 1999 in striking ways. If a correction hits just as you begin drawing income from your retirement accounts, the damage can be permanent.

This is known as sequence-of-returns risk — and it's one of the most overlooked dangers in retirement planning.

How to Protect Yourself Without Missing the Upside

The good news is there are strategies that allow you to protect your principal from market losses while still participating in market gains. Fixed Index Annuities (FIAs), for example, link your growth to a market index — so you benefit when the market goes up — but your account is fully protected when it goes down. You never lose a dollar to market risk.

At The Legacy Council, Justin Seitz specializes in helping pre-retirees and retirees identify exactly how much AI and tech exposure is hiding in their portfolios — and building a strategy to protect their savings before the next correction hits. The review is completely free and there is no obligation.

Don't wait for a correction to find out how exposed you are. Learn more and request your free portfolio review →

What Happens to My 401(k) When I Retire? Rollover Options Explained

You've spent decades building your 401(k). Now retirement is approaching — or has already arrived — and the question becomes: what do I actually do with this money? It's one of the most consequential financial decisions you'll ever make, and the wrong move can trigger unnecessary taxes, penalties, or leave your savings exposed to risks they were never designed for. Here's a clear breakdown of your options.

Option 1: Leave It in Your Employer's Plan

In most cases, you can leave your money in your former employer's 401(k) after you retire. This may make sense if your plan offers excellent low-cost investment options or unique investment vehicles not available in an IRA. However, there are drawbacks: you may have limited investment choices, the plan may change after you leave, and some plans charge higher fees to former employees. You also lose the flexibility that comes with controlling your own account.

Option 2: Roll Over to an IRA

A rollover to a Traditional IRA is the most common choice, and for good reason. It preserves the tax-deferred status of your money, gives you significantly more investment flexibility, and puts you in control. When done as a direct rollover — meaning the money moves directly from the 401(k) to the IRA without passing through your hands — there are no taxes or penalties, regardless of how much money is involved.

Avoid the 60-day indirect rollover if you can. In this scenario, the plan sends you a check (minus 20% withheld for taxes), and you have 60 days to deposit the full original amount into an IRA — including the 20% that was withheld. If you don't, the withheld amount is treated as a taxable distribution. A direct rollover is cleaner, simpler, and safer.

Option 3: Roll Over to a Roth IRA (Roth Conversion)

If you want to move your 401(k) into a Roth IRA, you can — but you'll owe income taxes on the converted amount in the year of the conversion. Why would someone do this? Because Roth IRAs grow tax-free and have no Required Minimum Distributions (RMDs). For people who expect to be in a higher tax bracket later, or who want to leave tax-free money to heirs, a Roth conversion can be a powerful strategy. But it requires careful tax planning — doing a large conversion in one year can push you into a higher bracket and trigger unexpected costs.

Option 4: Roll Into an Annuity for Guaranteed Income

A 401(k) rollover into a Fixed Index Annuity is an option many retirees don't know about — and one that can be particularly powerful for people who want to turn their savings into guaranteed monthly income they can never outlive. The rollover itself is tax-free (it goes directly from the 401(k) to the annuity). Once inside the annuity, your principal is protected from market losses, your savings can still grow based on index performance, and an income rider can provide a lifetime paycheck starting whenever you choose.

This option is especially appealing for people who don't have a pension and are concerned about outliving their savings. Instead of hoping your portfolio lasts 30 years, you simply build a guaranteed income floor — and sleep better at night.

Required Minimum Distributions

Starting at age 73, the IRS requires you to take Required Minimum Distributions (RMDs) from your Traditional 401(k) and Traditional IRA accounts each year. The amount is calculated based on your account balance and life expectancy tables. Failing to take your RMD results in a stiff penalty. If you're still working at 73 and participating in your current employer's plan, you may be able to delay RMDs from that specific plan — but not from old 401(k)s or IRAs.

Planning your RMDs is an important part of retirement income strategy, particularly if you have multiple accounts. Taking more than the minimum in low-income years — especially before Social Security begins — can reduce future RMDs and your lifetime tax burden.

The Decision That Matters Most

There is no one-size-fits-all answer. The right choice depends on your tax situation, your income needs, your other assets, your health, and how much flexibility or security you want in retirement. What we do know is that this decision deserves careful thought — and the guidance of an independent advisor who has no incentive to push you toward any particular product.

At The Legacy Council, Jack and Justin review your complete financial picture and help you make the rollover decision that makes the most sense for your retirement. There is no cost for this review and no obligation. Call us at (513) 442-2000 or schedule a free consultation online.

See our full breakdown of guaranteed retirement income strategies for more on how a rollover can fund protected, lifetime income.

Medicare Part C vs. Medicare Supplement: Which One Is Right for You?

One of the most common — and most important — questions we hear at The Legacy Council is this: "What's the difference between a Medicare Advantage plan and a Medicare Supplement plan?" It's a great question, because choosing between them is one of the biggest financial decisions you'll make in retirement. Get it right and your healthcare costs become predictable and manageable. Get it wrong and you may face thousands of dollars in unexpected expenses — or find that your preferred doctors and hospitals aren't covered when you need them most.

Here's a clear breakdown of how each option works, and what to consider when choosing between them.

Original Medicare — the Foundation

Before we compare the two, it helps to understand what they're both built on. Original Medicare consists of two parts: Part A (hospital coverage) and Part B (medical coverage, including doctor visits and outpatient services). Original Medicare covers a broad range of services, but it comes with gaps — deductibles, copays, and no annual out-of-pocket maximum. That's where Part C and Medicare Supplements come in.

Medicare Part C — Medicare Advantage

Medicare Advantage (Part C) plans are offered by private insurance companies approved by Medicare. Instead of using Original Medicare directly, you get your Part A and Part B benefits through the private plan, which typically bundles in Part D prescription drug coverage and often includes extras like dental, vision, and hearing benefits.

How it works: Advantage plans operate like an HMO or PPO — you generally have a network of doctors and hospitals you need to use, and you'll pay copays and coinsurance when you receive care. Most Advantage plans have low or even $0 monthly premiums, which makes them attractive on the surface. However, your costs at the point of care — when you're actually sick — can add up quickly.

Key things to know about Medicare Advantage:

• You must use the plan's network of doctors and hospitals (with some exceptions for emergencies)
• Out-of-pocket costs are capped each year (the annual maximum out-of-pocket limit)
• Plans vary significantly by county and change year to year
• You may need prior authorization before certain procedures are approved
• Often includes extras like dental, vision, hearing, and fitness benefits
• Low or $0 monthly premiums are common — but costs at point of service apply

Medicare Supplement — Medigap

Medicare Supplement plans — often called Medigap — work alongside Original Medicare rather than replacing it. These plans are also offered by private insurance companies, but they're standardized by the federal government. That means a Plan G from one company offers identical coverage to a Plan G from any other company. The only difference is the premium.

Medigap plans fill in the "gaps" left by Original Medicare — covering things like the Part A hospital deductible, Part B coinsurance and copays, and (depending on the plan) foreign travel emergencies. The most popular plans today are Plan G and Plan N.

Key things to know about Medicare Supplement:

• You can see any doctor or hospital that accepts Medicare — nationwide, no network restrictions
• No referrals needed and typically no prior authorization requirements
• Higher monthly premiums, but very predictable out-of-pocket costs
• No prescription drug coverage — you'll need a separate Part D plan
• Premiums increase with age and can vary significantly between carriers
• Best suited for people who want maximum flexibility and cost predictability

Side-by-Side Comparison

Feature	Medicare Advantage (Part C)	Medicare Supplement (Medigap)
Monthly Premium	Low or $0 (plus Part B premium)	Higher (plus Part B premium)
Doctor Choice	Network only (HMO/PPO)	Any Medicare-accepting provider
Out-of-Pocket Max	Yes — capped annually	Very low to none (plan-dependent)
Drug Coverage	Usually included	Separate Part D plan needed
Extras (Dental/Vision)	Often included	Not included
Prior Authorization	May be required	Rarely required
Referrals Needed	Often (especially HMO)	No
Best For	Lower upfront costs, generally healthy	Maximum flexibility, predictable costs

So Which One Should You Choose?

The honest answer is: it depends on your health, your budget, your doctors, and how you want to use your coverage. There is no universally right answer — but there are better and worse fits for each person.

Medicare Advantage may be a strong choice if you're generally healthy, want low monthly premiums, and are comfortable staying within a network. It can be particularly attractive if the plan's extra benefits — dental, vision, hearing, gym membership — are things you'll actually use.

Medicare Supplement may be the better fit if you have ongoing health conditions, see multiple specialists, travel frequently, or simply want the peace of mind of knowing your costs are predictable and your access to care is unrestricted. Many of our clients who initially chose Advantage plans for the low premiums later switched to Supplement plans after experiencing limitations during a serious illness or surgery.

One important caveat: in most states, if you want to switch from Medicare Advantage to a Medicare Supplement plan after your initial enrollment window, you may have to pass medical underwriting — which means your health history could affect your eligibility or premium. This is why the decision you make when you first turn 65 matters so much.

The TLC Approach

At The Legacy Council, Jack and Justin review all of your options — every plan available in your area from every carrier — and help you find the coverage that fits your doctors, your medications, your budget, and your lifestyle. There is no cost to you for this service. We are compensated by the insurance carriers, never by our clients.

If you're approaching Medicare eligibility — or if you're already enrolled and wondering if you're on the right plan — we'd love to help. Call us at (513) 442-2000 or schedule a free consultation online.

Visit our Medicare Planning page for a full overview of Medicare Supplement, Medicare Advantage, and Part D options.

Medicare Part D Explained: How to Choose a Prescription Drug Plan

Prescription drug costs are one of the biggest — and most unpredictable — expenses in retirement. Medicare Part D is the federal program that helps cover those costs, but navigating the options can feel like a maze. There are dozens of plans available in most areas, each with its own list of covered drugs (called a formulary), its own cost structure, and its own network of pharmacies. Choosing the wrong plan can cost you hundreds or even thousands of dollars more per year than necessary. Here's what you need to know.

What Is Medicare Part D?

Medicare Part D is prescription drug coverage offered through private insurance companies approved by Medicare. It's a voluntary benefit — but the late enrollment penalty (1% of the national base premium for every month you delay without creditable drug coverage) makes it financially wise to enroll when you're first eligible, even if your drug costs are currently low.

Part D is available in two ways: as a standalone Prescription Drug Plan (PDP) that pairs with Original Medicare and a Medigap policy, or bundled into a Medicare Advantage (Part C) plan that includes drug coverage.

Understanding How Part D Costs Work

Part D plans have several layers of cost you need to understand before comparing plans:

• Monthly Premium: What you pay each month to have the coverage, regardless of whether you use it.
• Annual Deductible: What you pay out of pocket before the plan starts sharing costs. In 2026, the maximum deductible is $590, though many plans waive it for lower tiers of drugs.
• Copays and Coinsurance: Your share of drug costs after meeting the deductible — usually a flat copay or a percentage of the drug's cost, depending on which "tier" the drug falls into.
• Out-of-Pocket Maximum: Starting in 2025, a major change to Part D capped annual out-of-pocket drug costs at $2,000. This is a significant protection for people with high drug costs.

The Formulary — Your Most Important Comparison Tool

Every Part D plan has a formulary — a list of covered drugs, organized into tiers that determine your cost. Generic drugs are typically on Tier 1 (lowest cost). Brand-name drugs sit on Tier 3 or 4 (higher cost). Specialty drugs are often Tier 5 (highest cost). A drug that's covered on a lower tier by one plan may be on a higher tier — or not covered at all — by another.

Before you choose a Part D plan, list every prescription drug you take and compare how each plan covers them and at what cost. Medicare's online Plan Finder tool at Medicare.gov allows you to enter your medications and compare total estimated annual costs across all plans available in your area. It's one of the most useful tools Medicare offers — and one of the most underused.

Pharmacy Networks Matter

Most Part D plans have preferred pharmacy networks — and your costs can differ significantly depending on whether you use a preferred or non-preferred pharmacy. Many plans offer lower copays if you use their preferred mail-order pharmacy for 90-day supplies of maintenance medications. If you have a preferred pharmacy, make sure it's in the plan's preferred network before enrolling.

Annual Enrollment Period — Review Every Year

Part D plans change every year. Formularies change. Premiums change. Pharmacy networks change. A plan that covered all your medications at low cost last year may have moved your key drugs to a higher tier — or dropped them from the formulary entirely. During the Annual Enrollment Period (October 15 – December 7), you can switch Part D plans for the following year. We strongly encourage all of our clients to review their drug plan annually, even if nothing in their health has changed.

Extra Help — Low-Income Subsidy

If your income and resources are limited, you may qualify for the Extra Help program (also called the Low-Income Subsidy), which significantly reduces Part D premiums, deductibles, and copays. In 2026, individuals with income up to about 150% of the federal poverty level may qualify. It's worth checking — many people who qualify don't know it.

We'll Do the Comparison for You

At The Legacy Council, comparing Medicare Part D plans for our clients is something Jack and Justin do as part of every Medicare review — at no cost to you. We look at your specific medications, your preferred pharmacies, and your budget, and help you find the plan that minimizes your total annual drug costs. Call us at (513) 442-2000 or schedule a free consultation.

Learn more about all of your options on our Medicare Planning page.

How Much Money Do I Need to Retire? The Real Answer in 2026

It's one of the most Googled retirement questions on the internet: "How much money do I need to retire?" Financial headlines throw around numbers like $1 million, $1.5 million, or even $2 million. But the honest answer — the one that actually helps you plan — is more nuanced than any single number, and far more achievable than those headlines suggest.

Why the "Magic Number" Approach Fails

The idea that everyone needs a specific dollar amount to retire comes from the "4% rule" — a guideline suggesting you can safely withdraw 4% of your savings each year without running out of money over a 30-year retirement. By that math, $1 million in savings = $40,000 per year. But this rule was developed in 1994, before interest rates hit historic lows, before the AI bubble created extreme market concentration risk, and before people started routinely living into their late eighties and nineties.

The 4% rule also assumes your money stays invested in the market — meaning a bad sequence of returns early in retirement can permanently derail the entire plan. It's a guideline, not a guarantee.

The Better Question: How Much Monthly Income Do You Need?

Rather than fixating on a lump-sum target, a more useful approach is to calculate the monthly income you'll need in retirement — and then build a plan to generate that income reliably. Start by asking:

• What are your current monthly expenses, and which will stay the same, go up, or disappear in retirement?
• How much will you receive from Social Security — and when is the best time to claim it?
• Do you have a pension, rental income, or any other guaranteed income sources?
• What does your desired retirement lifestyle look like — travel, hobbies, helping family?
• What are your healthcare cost expectations, especially before Medicare at 65?

The gap between your guaranteed income sources (Social Security, pension, etc.) and your monthly expenses is what your retirement savings need to fill. That's the number that actually matters.

The Ohio Advantage

For those of us in the Greater Cincinnati area, the cost of living works in your favor. Housing costs, property taxes, and everyday expenses here are significantly lower than coastal metropolitan areas. A retirement income that feels tight in California or New York can feel genuinely comfortable in Ohio. This is something national financial publications almost never account for when they publish their scary retirement savings numbers.

The Role of Guaranteed Income

One of the most powerful things you can do in retirement planning is convert a portion of your savings into guaranteed income — a paycheck that arrives every month regardless of what the stock market is doing. Social Security is one source. A pension is another. But for many Americans, these aren't enough to cover all monthly expenses — which is where guaranteed income products like Fixed Index Annuities with income riders become a critical piece of the puzzle.

When you know that $3,000 or $4,000 or $5,000 is going to land in your account every month no matter what, the stress of retirement changes dramatically. You're no longer watching the market with anxiety every morning. You're living your retirement.

Inflation: The Silent Risk

At just 3% annual inflation, a $100 monthly expense today costs roughly $181 in 20 years. Over a long retirement, inflation quietly erodes purchasing power in ways that are easy to underestimate in the planning phase. Your retirement income strategy needs to account for inflation — either through Social Security's cost-of-living adjustments, investments with growth potential, or annuity products with inflation riders.

The Bottom Line

There is no universal magic number. But there is a right number for you — based on your expenses, your income sources, your health, your goals, and the life you want to live. At The Legacy Council, we help clients build a complete retirement income picture: what you have, what you'll need, and exactly how to close the gap — at no cost to you.

Call us at (513) 442-2000 or schedule a free consultation to get a clear, personalized picture of where you stand and what your options are.

Explore how a guaranteed income strategy can turn your savings into a paycheck you can't outlive.

What Is a Fixed Index Annuity and How Does It Work?

If you've ever wondered whether there's a way to grow your retirement savings without risking them in the stock market — while still earning more than a CD or savings account — a Fixed Index Annuity (FIA) may be exactly what you've been looking for. Yet for all their potential benefits, FIAs are one of the most misunderstood financial products in the retirement planning world. Let's break it down clearly.

What Is a Fixed Index Annuity?

A Fixed Index Annuity is an insurance contract. You deposit a lump sum (or sometimes a series of payments) with an insurance company, and in return the company credits you with interest based on the performance of a market index — most commonly the S&P 500. Here's the key distinction that sets FIAs apart from investing directly in the market: your principal is fully protected from market losses.

If the index goes up, your account is credited with a portion of that gain. If the index goes down, your account simply doesn't grow that year — but you don't lose a dollar. Your floor is zero. That's the core promise of a Fixed Index Annuity.

How Are the Gains Calculated?

FIAs use one of several methods to calculate how much of the index's growth is credited to your account:

• Cap Rate: Your gain is capped at a maximum percentage. If the S&P 500 earns 18% but your cap is 10%, you're credited 10%.
• Participation Rate: You receive a percentage of the index's gain. A 60% participation rate on a 10% index return credits you with 6%.
• Spread/Margin: The insurance company takes a set percentage off the top. A 2% spread on a 10% gain credits you with 8%.

These methods vary by carrier and product. The right strategy depends on your timeline, goals, and current interest rate environment — which is why working with an independent advisor is so valuable. We shop dozens of carriers to find the best terms available for your situation.

The Lock-In Feature: Gains Are Locked In Annually

Most FIAs use an annual reset feature: at the end of each contract year, any gains are locked in and become your new starting point. So if your account grows by $8,000 this year, that $8,000 can never be lost to market downturns in future years. You start the next year from the higher base. Over time, this "step-up" effect can be powerful — especially compared to a traditional investment account that may give back years of gains in a single crash.

The Income Rider — Guaranteed Lifetime Income

Many FIAs offer an optional income rider — sometimes called a Guaranteed Minimum Withdrawal Benefit (GMWB) or a Guaranteed Lifetime Income Benefit (GLIB). For a small annual fee, this rider guarantees that you can take a set income from your account every year for life — even if the account value itself eventually reaches zero. This is the closest thing in the private market to a pension: a paycheck that keeps coming no matter how long you live or what the market does.

What About Liquidity?

FIAs are designed to be long-term vehicles, and most have a surrender period — typically 5 to 10 years — during which withdrawals beyond a free withdrawal amount (usually 10% of the account value annually) may trigger a surrender charge. It's important to understand these terms before you purchase. We always make sure our clients have full clarity on what they're agreeing to.

Who Is a Fixed Index Annuity Right For?

FIAs tend to be a strong fit for people who are within 10 years of retirement or already retired, have money they want to protect and grow without market risk, and want the option of a guaranteed income stream they can never outlive. They are not well-suited for money you may need access to in the near term, or for younger investors with a long horizon who can ride out market cycles.

Talk to an Independent Advisor

There are hundreds of FIA products on the market, with dramatically different terms, caps, participation rates, and income rider features. An independent advisor like Jack or Justin can compare products across dozens of carriers to find the right fit — at no cost to you. Call us at (513) 442-2000 or schedule a free consultation to learn more.

Visit our Retirement Income Planning page to see how FIAs fit into a complete guaranteed income strategy.

When Should I Sign Up for Medicare? A Complete Guide to Enrollment Deadlines

One of the most important — and most misunderstood — decisions you'll make as you approach retirement is when to sign up for Medicare. Miss a deadline and you could face lifetime penalties that cost you hundreds of dollars every year for the rest of your life. Sign up at the wrong time and you could lose the coverage you already have. Getting this right matters, and we're here to walk you through every key window.

The Basics: Medicare Parts A and B

Medicare is made up of several parts. Part A covers hospital care, skilled nursing, and some home health services. Part B covers doctor visits, outpatient care, and medical equipment. Together, they form Original Medicare. Most people also need Part D for prescription drugs — and many choose either a Medicare Advantage plan (Part C) or a Medicare Supplement (Medigap) to fill in the coverage gaps.

The key enrollment windows for Part A and Part B are what trip most people up — so let's take them one by one.

Initial Enrollment Period (IEP)

Your Initial Enrollment Period is a 7-month window centered on your 65th birthday. It begins 3 months before the month you turn 65, includes the month of your birthday, and extends 3 months after. This is your first and most important opportunity to enroll.

If you enroll during the first 3 months of your IEP (before your birthday month), your coverage begins on the 1st of your birthday month. If you enroll during or after your birthday month, your start date may be delayed by 1 to 3 months. The earlier you enroll, the sooner your coverage kicks in.

Special Enrollment Period (SEP)

If you're still working at 65 and covered by an employer group health plan through your own current employment (or your spouse's), you may be eligible to delay Medicare enrollment without penalty. When that employer coverage ends, you get an 8-month Special Enrollment Period to sign up for Part A and Part B.

Important: COBRA coverage and retiree health coverage do not qualify as employer coverage for this purpose. If you retire and go on COBRA, your SEP doesn't apply — you need to enroll in Medicare promptly or face late penalties.

The Late Enrollment Penalty — A Lifetime Cost

If you don't enroll in Part B when you're first eligible and you don't qualify for a Special Enrollment Period, you'll face a 10% penalty added to your Part B premium for every 12-month period you were eligible but didn't enroll. This penalty is permanent — it stays with you for as long as you have Part B. That adds up significantly over a 20 or 30-year retirement.

Part D carries a similar late enrollment penalty: 1% of the national base beneficiary premium for every month you went without creditable drug coverage. Again, permanent.

Annual Enrollment Period (AEP)

Every year from October 15 through December 7 is the Annual Enrollment Period. During this window, anyone enrolled in Medicare can switch between Original Medicare and Medicare Advantage, change their Medicare Advantage plan, switch Part D plans, or drop their Medicare Advantage plan and return to Original Medicare. Changes take effect January 1 of the following year.

This is the time of year when we encourage all of our clients — even those happy with their current plan — to review their coverage. Plans change their formularies, provider networks, and premiums every year. A plan that was perfect for you last year may not be the best fit this year.

General Enrollment Period

If you missed your Initial Enrollment Period and don't qualify for a Special Enrollment Period, there is still a way in: the General Enrollment Period, which runs from January 1 through March 31 each year. Coverage under this window begins July 1. However, you will owe the late enrollment penalty, so this is a path of last resort.

The Bottom Line

Medicare enrollment rules are complex, the stakes are high, and the government's resources are often written in dense government-speak that leaves more questions than answers. At The Legacy Council, we help clients navigate every enrollment decision — free of charge. Whether you're turning 65, leaving employer coverage, or wondering if you're on the right plan, we're here to help.

Call us at (513) 442-2000 or schedule a free consultation online. There is no cost and no obligation — we are compensated by the insurance carriers, never by you.

Visit our Medicare Planning page for a full breakdown of your coverage options.

Highlights of the One Big Beautiful Bill Act Signed into Law July 4, 2025

The One Big Beautiful Bill Act (OBBBA) was signed into law by President Trump on July 4, 2025. Here are some highlights that may impact your insurance and retirement planning:

What's in the Bill?

• Taxes: Keeps 2017 tax cuts, raises the standard deduction ($15,750 singles / $31,500 couples in 2025), and increases the state/local tax deduction cap to $40,000 for incomes under $500,000.
• Child Tax Credit: Boosted to $2,200 per child.
• Senior Bonus Deduction: Seniors 65+ can deduct up to $6,000 (single) or $12,000 (couples) from taxable income in addition to the standard deduction — available 2025–2028 for incomes up to $75,000/$150,000.
• Spending: Adds $150B for defense and $170B for border security. Reduces Medicaid by up to $1 trillion with new work requirements.
• "Trump Accounts": Tax-deferred accounts for children born 2024–2028 with a $1,000 federal deposit.

Social Security Changes

The OBBBA doesn't eliminate taxes on Social Security benefits but offers a temporary "senior bonus" deduction. For example, a single senior with $30,000 in Social Security and $20,000 in other income could use the $15,750 standard deduction plus $6,000 senior bonus to significantly lower or eliminate taxes on benefits. This benefit is temporary through 2028 and phases out at higher incomes.

Contact us if you have any specific questions about how this bill may impact your insurance and retirement planning.

$2.2 Trillion CARES Act — What You Need to Know

On March 27th, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) providing financial relief for the economic downturn caused by the COVID-19 pandemic. Key highlights include:

• Stimulus payments: $1,200 per adult ($2,400 married) + $500 per child for incomes up to $75,000/$150,000.
• Retirement distributions: Up to $100,000 in COVID-related distributions without the 10% early withdrawal penalty, with income spread over three years.
• RMD suspension: Required Minimum Distributions for 2020 were suspended.
• Enhanced unemployment: Additional $600/week for up to four months, plus 13 additional weeks of benefits.
• Plan loan limit increase: Maximum loan from retirement plans increased from $50,000 to $100,000 through December 31, 2020.

Read the full 880-page CARES Act (PDF) →

9 Myths Investors Believe About Retirement

Investors tend to have expectations in retirement that may be unrealistic. According to The Wall Street Journal, these 9 myths — if they don't come true — can cause a retirement plan to fall apart:

1. "I'm going to work in retirement."
2. "My home is my safety net."
3. "I can live on 70% or 80% of my pre-retirement income."
4. "My taxes will go down in retirement."
5. "I'm comfortable with debt."
6. "My spouse is taking care of everything."
7. "I'm going to get an inheritance."
8. "I'm going to get a pension — and it's safe."
9. "I won't need long-term care."

It is our job and fiduciary duty at The Legacy Council to analyze our clients' real needs and show them a realistic plan. Call us at (513) 442-2000 for your complimentary retirement analysis today!

See how a guaranteed income strategy can help close the gap between these myths and reality.

How Does a 401k Rollover Work and What Are My Options?

A "rollover" is a term for transferring tax-deferred retirement savings like a 401k or pension from one account to another. You do not have to be held captive by your 401k or pension fund. If you are 59½ or have left your employer, you owe it to yourself to look into your rollover options.

We can help rollover your 401k or company pension to help you enjoy portfolio growth with zero downside risk, implement a smart retirement income solution with income you can't outlive, and maximize your retirement paycheck.

How to Complete a Rollover in 4 Steps:

1. Gather your latest statement — shows your current balance and contributions.
2. Decide what to roll it into — contact TLC to explore options like a fixed index annuity.
3. Set up a new account — we assist with all paperwork.
4. Initiate the rollover — specify a direct transfer to avoid IRS penalties.

Call the Retirement Advisors at The Legacy Council today at (513) 442-2000.

Learn more on our Retirement Income Planning page.

A Big Change to Social Security in 2016

The 2016 budget bill eliminated the popular "File and Suspend" Social Security strategy after May 1, 2016. This strategy allowed the spouse who reached full retirement age to file and immediately suspend benefits, while their partner claimed a spousal benefit and the deferred benefit grew 8% per year until age 70.

If you have any questions about your Social Security filing options, call the experts at The Legacy Council at (513) 442-2000.

What You Need to Know About the Medicare Open Enrollment Period

The Medicare Annual Election Period (AEP) runs from October 15th to December 7th each year. This is when you can review and change your Medicare Advantage or Prescription Drug plan. Key items to review in your Annual Notice of Changes (ANOC):

• Monthly Premium
• Deductibles & Copays
• Prescription Drug Costs & Formulary
• Provider Network

Contact your local brokers at The Legacy Council to help navigate all the plans and information. We represent most major carriers and can provide a non-biased consultation. Call us at (513) 442-2000.

Visit our Medicare Planning page for more on enrollment periods and plan types.

5 Facts Most People Don't Know About Social Security

1. Your full retirement age depends on your birth year — age 66 if born 1943–1954, age 67 if born 1960 or later.
2. Every year you delay collecting Social Security increases your benefit by ~8% per year up to age 70.
3. If your spouse dies, you receive the greater of the two benefits, not both.
4. You can work and collect Social Security, but if you haven't reached full retirement age, earnings above the retirement earnings test limit may reduce your benefits.
5. Your spouse can qualify for a Social Security Spousal Benefit of up to 50% of your full retirement age benefit, even with no earnings history.

For help planning your Social Security strategy, contact The Legacy Council at (513) 442-2000.

Do You Lie Awake at Night?

Do you have money in the stock market and worry whether it will go up or down? The Legacy Council offers financial products that allow your principal to never decrease in a market decline but will gain interest when the market goes up. Interest is tax-deferred, and when it's time to retire, these products can create a GUARANTEED LIFETIME INCOME you can never outlive.

Knowing you will never outlive your money in retirement — that is "Peace of Mind." Give us a call at (513) 442-2000 for details.

Learn more about these protected strategies on our Retirement Income Planning page.

Retirement Planning Using Life Insurance

One type of life insurance growing in popularity for retirement planning is the Indexed Universal Life (IUL) policy. An IUL provides an immediate death benefit while also allowing you to "overfund" the policy, building cash value that grows tax-free based on a stock index (like the S&P 500) — without ever being directly invested in the market.

Once sufficient cash value has accumulated, the policy owner can take tax-free Policy Loans to create a stream of income in retirement. Contact one of the Licensed Experts at The Legacy Council at (513) 442-2000 to learn more.

See our Retirement Income Planning page for more guaranteed income strategies.