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Want to Retire Early? Think Again
Some people consider “early retirement” to mean leaving the workforce at age 55. But most of us don’t. Unless you’re lucky enough to have a full pension and benefits that kick in at that age (say, if you worked in…
Lawmakers Move to Extend Social Security Benefits to Same-Sex Couples
Legislation that would ensure all legally married same-sex couples have access to Social Security benefits, regardless of whether they live in a marriage-equality state, was reintroduced in Congress Tuesday. Sens. Patty Murray (D-Wash.) and Tammy Baldwin (D-Wisc.) reintroduced the Social Security…
Why the Social Security Administration Can’t Help You
The Social Security Administration (SSA for short) can’t help you with your Social Security benefits. That sounds funny, I know, but they can’t. What I mean is they can’t help you put a plan in place to maximize your benefits.…
David Walker Warns of Social Security, State Pensions Insolvency
David Walker, the former Comptroller of the United States from 1998 to 2008, is warning the general public that Social Security is untrustworthy and is on the cusp of insolvency. Get ready. It has been a while since Walker has been…
Social Security Disability Awards Reform Can Restore Dignity and Efficacy to the System
….Over the past decade, judicial impartiality has declined significantly, as many administrative-law judges uncritically approve most claims. In 2008, judges on average approved about 70 percent of claims before them. Nine percent of judges approved more than 90 percent of…
Ways to Lower Your Taxes in Retirement
Retirees who file their taxes quarterly may feel like every season is tax season, but preparing for the April tax deadline is a good time to seek out new deductions and plan some strategies for the year ahead. You might be…
Sen. Sanders’ Bold Plan to Expand Social Security
Last week U.S. Sen. Bernie Sanders (I-Vermont) introduced the Social Security Expansion Act, a thoughtful plan to both ensure greater retirement security for today’s workers and retirees and strengthen Social Security’s finances over the long term…. Retirement Income Crisis Calls…
How to Plan for Health Costs in Retirement
Some services – like doctor visits and prescription drugs – are more predictable and easier to forecast If you’re trying to budget for health care in later life, think about expenses in terms of “recurring” and “nonrecurring” services. That’s the…
Your Retirement Fund: Smart Ways to Withdraw
Last year I reached a milestone age: 59½, old enough to withdraw money from my individual retirement accounts with no penalty. While this felt bittersweet, it did remind me of the importance of timing when it comes to taking money…
Spending in Retirement: From Nest Egg to Income
Most people prefer a known monthly payment to the complex decision of investing a lump sum to cover their financial needs during retirement. Income versus a nest egg is conceptually more closely tied to what most of us are ultimately…