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Are You Financially Ready for Retirement?
Researchers and others say only half of households in the USA are financially prepared for retirement. The other half, not so much. Other research, however, shows that only one in 10 households — if you factor in less spending after your…
Pensions Outside U.S.: Lessons For Social Security
….According to Michael Tanner of the libertarian Cato Institute, 32 countries have turned to partial or full privatization of their Social Security-like systems. The U.S. isn’t one of them. After his re-election in 2004, President Bush pushed for changes that would’ve…
Paralyzed Veterans of America Responds to House Budget’s Assault on Social Security
The budget plan recently announced by the leadership of the House of Representatives seeks to place all the responsibility for deficit reduction and fiscal responsibility on the backs of low-income Americans, seniors and people with disabilities—many of whom have served…
5 Things To Consider Before Retiring Early
You’ve had enough of the crazy commute, lots of hours and the endless to-dos, and dream of an early retirement? We hear you. But while stories of people retiring years ahead of 65 make it seem easy, it’s a decision…
Don’t Let Obama Proposals Sidetrack Financial Planning
The White House has issued a flurry of proposals since early 2014, many aimed at scaling back provisions that benefit those with higher incomes and greater wealth. At stake are some of the smartest financial strategies available, such as saving…
Proposal By Wilton’s O’Dea Repealing Tax On Social Security Moves Ahead
A proposal introduced by State Rep. Tom O’Dea (R-Wilton, New Canaan) to exempt Social Security from the state income tax — and help the state’s retirees — has been incorporated into a bill that was approved by the legislature’s Committee on…
Here’s the U.S. Deficit’s Next Victim
The Congressional Budget Office recently produced revised projections. In short, it raised its federal deficit estimate for fiscal 2015 to $486 billion, compared to $468 billion in the previous projection. That means 2015’s deficit will now be larger than 2014’s – even…
Medicare in 2015: What You and Your Loved One Should Know
Today, millions of seniors depend on Medicare to cover a portion of their medical expenses. Because Medicare plans can change each year, it’s no surprise that beneficiaries and caregivers will see changes to Medicare in 2015. One of the best financial…
Social Security’s Disability Insurance Financing Crisis: Why Another “Quick Fix” Funds Transfer May Cost Far More Than Advertised
Social Security’s trustees have long warned Congress to address the troubled finances of the Disability Insurance (DI) program. Given the DI trust fund’s projected exhaustion date of 2016, legislation will be required during this Congress to prevent large, sudden benefit…
SSA to Scrub Pension Offset Records
SSA has said it will improve its system for keeping track of spousal beneficiaries affected by the government pension offset, following an inspector general report disclosing that the records needed to determine that offset are often incomplete or wrong…. The…