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These costs have seriously weighed down seniors
Over 60 percent of aged beneficiaries are currently relying on the program to provide at least half of their income according to the Social Security Administration. But despite helping seniors, Social Security is also letting them down. According to a…
Understanding your Medicare options
Medicare, probably the most popular healthcare plan in America, is something you start thinking about as you approach the eligibility age of 65. Problem is, Medicare isn’t a simple program to figure out, and deciding how to set up your…
Congress’ dilemma: How to fix Social Security
In this Motley Fool article by Sean Williams, the author explains why the Social Security financial dilemma exists in the first place and then describes how a divided Congress seems unable to develop a compromise solution that will solve the…
Social Security’s financial woes: Here’s how you can protect yourself
It’s no secret by now that Social Security has some financial issues which, if not addressed by Congress soon, will eventually have an impact on your Social Security benefits, but with the political climate existing in Congress today it’s hard to…
Understanding Social Security’s three funding mechanisms
Social Security Administration finds that more than 3 out of 5 current retirees count on their Social Security benefits for at least half of their monthly income. In a separate analysis from the Center on Budget and Policy Priorities, they…
Four categories of aged Americans who will never receive a Social Security benefit
As of the June snapshot from the Social Security Administration, some 62.5 million people were receiving a monthly benefit. But, not all older Americans will be able to collect a Social Security benefit. Social Security is often referred to as…
Should you go with a Roth, traditional IRA or 401(k)?
You are working and saving for retirement and you have a choice between a traditional IRA or 401(k) or a Roth version of the same type of account; so how do you choose? What is the primary factor should you…
Unemployed in your 60s? Consider these alternatives before filing for Social Security early
Losing your job in your 60s can be a harsh financial blow and statistically speaking, you are less likely than your younger counterparts to find new work quickly. If you happen to lose your job at age 62 or later, you…
Three options to consider when planning your retirement spending
According to the 2018 version of Gallup’s annual survey about American’s biggest financial worries, not having enough money to fund their retirement topped the list for the 16th year in a row. However, having enough money is only half of…
Steer clear of these mistakes if want more money in your retirement
If there is one thing most retirees agree on, running out of money during retirement is a concern even for people with healthy nest eggs. No one wants to experience cash flow problems especially when you are older, but if you…