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A Simple Four-Step Guide on How Much to Save for Retirement
You know you must save something for retirement, but you probably don’t know exactly how much. You’re not alone…the majority of Americans–around 81 percent–don’t know what amount of money they’ll need to retire. In Christy Bieber’s article on Northwest Indiana Times’ website (http://www.nwitimes.com),…
Social Security: What You Don’t Know Can Cost You
Senator Susan Collins (R-ME) was quoted during a Senate Special Committee on Aging hearing held last year on how to help Americans make the most of their Social Security benefits. She said: “Deciding at what age to begin claiming Social Security retirement…
Happy Mother’s Day!
The staff at Social Security Report extend best wishes to all for a Happy Mother’s Day! In keeping with our editorial objectives for the site, we’re also calling your attention to a post from the Social Security Administration addressing Social…
Mothers Day Weekend: Lawmakers Urged to Assess Impacts on Women
Despite the gender neutrality of Social Security’s benefits, the American Academy of Actuaries asserts in an “Issues Brief” that the consequences of gender-related differences in America’s work culture can lead to differences in financial security for women in retirement. With…
Baby Boomers and Retirement: Overconfidence and Confusion?
The 2017 RICP® Retirement Income Literacy Survey commissioned by the American College New York Life Center for Retirement Income earlier this year provided some surprising insights into the depth of knowledge older Americans have about issues key to their post-career years. In fact,…
The “New Retirement” Strategy That’s Gaining Popularity
Recent studies have shown that the impulse to file for Social Security benefits at the earliest possible age (62) is giving way to deferred filing, either at the full retirement age (66/67) or even up to age 70. Whether that’s…
2018 Budget Projection: No Cuts to Social Security
Although it’s still a work in progress, President Trump’s fiscal 2018 budget proposal is expected to avoid any major changes to Social Security and Medicare while setting the government on a path to balance the budget within 10 years. Insiders point to…
Gallup Poll Points Toward More Working in Retirement
The number of American workers planning on leaving the workforce at age 65 has risen since 2011, according to Gallup’s 2017 Economy and Personal Finance survey. Conversely, the survey found that the portion–63%–of the survey’s respondents expecting to continue working part-time…
Retirement Planning for Couples With Large Age Differences
Planning retirement finances for couples with substantial age differences requires careful attention to a number of factors, one of which is the timing of Social Security benefits and the resulting impact on spousal and survivor benefits. Dawn Doebler, wealth adviser at…
Short on retirement cash? Here are some suggestions.
If you’re following the news on retirement issues, you’ve probably noticed the frequent articles concerning the inadequacy of cash reserves faced by many folks nearing that phase of their lives. While most of these deal with the importance of Social Security…