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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…
A Guide to Not Retiring
Some people nearing retirement age simply don’t want to leave their jobs. But defying expectations can be difficult—in the office and at home. It’s an inescapable reality of getting older: At some point, everybody expects you to retire. There’s your spouse,…
Social Security Trust Fund is Anything but Trustworthy: Former Official
According to a former top government official, your retirement could be at risk, and the escalating costs of Social Security, public pensions and health care are the primary reasons why. The Social Security Administration itself confirms as much, recently warning that…
The Medicare Number That Should Shock You the Most
Healthcare is one of the most unpredictable expenses you’ll face after you retire, and Medicare coverage is the primary way that tens of millions of Americans protect themselves from the potential financial catastrophe that an unanticipated illness or injury would…