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Late-Night Social Security Votes Have Major Political Ramifications
Last week the U.S. Senate took three votes related to Social Security benefit amounts which may hold clues to how candidates will line up on the issue in the presidential campaigns. While none of the proposals passed, they were especially notable…
Fifteen Days Remain Before Tax Filing Deadline
CMS continues to raise awareness about the intersection of taxes and health care With the tax filing deadline two weeks away, the Centers for Medicare & Medicaid Services (CMS) is continuing to help consumers understand how health coverage and taxes…
How Much Should You Really Set Aside for Retirement?
It’s true that many Americans are ill-prepared for retirement, but the situation isn’t as dire as some may think. About half of U.S. workers are actually on track to retire comfortably, according to research from the Center for Retirement Research at…
Baby Boomers Redefining ‘Golden Years’
The concept of retirement in the U.S. has been around since the early 1900s and originally meant spending a few good years resting after a lifetime of labor. For the baby boomer generation, the “golden years” are barely resembling that…
For Most Households, It’s About the Payroll Tax, Not the Income Tax
While policymakers obsess about the income tax, they often lose sight of an important detail: For two-thirds of households, the levy that matters most is the payroll tax. According to a new report by the Joint Committee on Taxation, the 80…
Millions of Americans Have Little to No Money Saved
Millions of Americans have no savings set aside for a rainy day, leaving them in serious jeopardy if financial calamity strikes, according to two new studies released this week. Roughly a third of American adults don’t have any emergency savings, meaning…
Savings Accounts for People with Disabilities: Is Oregon Next?
Ross Ryan has a small but mighty list of things he’d like to someday achieve: He wants to own a home, he wants to study meteorology and he wants a car, so he can get around. But each of those goals…
Raising Retirement Age Would Widen Benefit Disparities for Disadvantaged
The age to receive full Social Security benefits should be closer to 70, according to a report published in the journal Daedalus. “We’re living longer and healthier than ever before, but the statutory age of retirement for receiving Social Security benefits…
Obama Administration Wants to Regulate the Advice We Get From Retirement Planners
Now, it appears the Obama administration wants to control the advice we can get from retirement planners. The administration announced it is moving ahead with a new Department of Labor rule designed to provide uniform fiduciary rules for anyone providing retirement…
When Should You Begin Collecting Social Security?
Deciding when to start collecting Social Security benefits is one of the biggest financial decisions you’ll make in retirement. Why? The lifetime cost of making the wrong choice can be enormous, and could have a huge impact on your family’s…