Headlines
Retirement plans in a post-pandemic world
The economic shutdown as a result of the COVID-19 outbreak has drastically altered the retirement outlook and created many personal and financial challenges for some participants in company-sponsored retirement plans. With the stock market volatility and the drastically rising unemployment…
The resilience among U.S. retirees in contrast to younger generations
A new joint research project by Edward Jones and Age Wave found despite COVID-19’s severe health impact on aging adults, older Americans report they are coping far better both emotionally and financially than younger adults. The study of more than…
The retirement crisis playing out right before our eyes
Unlike prior recessions, the unemployment rate is higher among older workers than among younger ones. In the past, many older workers would have retired but since many have little or no savings; they continue to look for work. Furthermore, over…
There is still confusion about the new retirement withdrawal rules
There have been a lot of changes this year especially when it comes to retirement withdrawal rules. Although these rules have been in effect for months, CARES Act was signed into law on March 27th; there is still a lot…
Retirement Finances: The Importance of Strategy for Couples
Married couples will inevitably face a situation where one outlives the other. That’s a simple reality of life, and this reality produces survival circumstances that vary between widows and widowers. These circumstances can be financial, others can be emotional, but in either…
Paying Income Tax in Retirement: A Growing Concern
In its recent Tax-Efficient Retirement Income (TERI) Study, the folks at Nationwide took an in-depth look at the relatively complex issue of taxation and how the IRS rules can affect retirement income planning. According to The Motley Fool’s Christy Bieber, ”…
Dealing With Social Security’s Bewildering Rule Book
The AMAC Social Security Advisory Service has been in operation since early 2016, and in that time has served the needs of over 12,000 folks seeking guidance in applying the program’s thousands of rules, rubrics, and regulations to their individual…
Social Security Solvency: Sounding the Alarm (Again)
Meaningful Social Security reform has not actively been undertaken since the early 1980s, and the consequences are now evident. The program is now less than 15 years away from exhaustion of its once-considerable cash reserves–in fact, some creditable studies have…
Bills Introduced to Address “COVID-19 Notch”
Washington lawmakers have begun to look seriously at what’s come to be known as the “COVID-19” notch (see our prior post on this issue here), with two separate bills introduced to address the quirk. A post by The Motley Fool’s Maurie…
Payroll Tax Cut Out of Next Stimulus Package
In an apparent concession to many, including the Association of Mature American Citizens (AMAC), who felt that a temporary payroll tax cut would unnecessarily damage Social Security’s finances, Treasury Secretary Mnunchin has announced that there will be no payroll tax…