Latest News
Hardship withdrawals in 2022
According to the latest analysis by Fidelity Investments, Americans’ retirement nest eggs saw significant drops year-over-year. The savings rates did change, but not at the level Fidelity recommends. Javier Simon explains how economic turmoil may prevent many Americans from maximizing…
How will the banking crisis affect Social Security funding
According to the 2022 report from the Social Security trustees, the trust funds will run out of money by 2035; however, the Congressional Budget Office projects insolvency could come even sooner. A bipartisan group of U.S. senators is working on…
Social Security benefits may not increase as much next year
Approximately 70 million Americans–Social Security and Supplemental Security Income (SSI) beneficiaries–saw an increase of 8.7 percent in their monthly benefits in 2023. According to new research from the Bank of American Institute, the cost-of-living adjustment for 2023 was one of…
Here are the Medicare basics
More than 10,000 people turn 65 every day in the United States. Knowing your options for health care are more important than ever before. Medicare is the federal health insurance program for people who are 65 or older. Understanding Medicare…
Which state is the most expensive to retire in?
When you think of the most expensive places to live in the United States, most people will say California or New York, but that may not be correct for both states. According to WalletHub, California did not make the top…
Three ways to supplement your retirement savings
Millions of Americans face the reality of spending their senior years in straitened circumstances, struggling to make ends meet. However, if you are one of those individuals who are low on retirement savings, all is not lost. Maurie Backman explains…
Social Security Disability – Two Programs, Entirely Different
Social Security has two different disability programs – one for workers who become disabled before reaching their full retirement age, and, another separate program for those with very little income and very few assets. The former is a benefit earned…
Hard Decisions Ahead for Medicare (and Social Security)
With all the rhetoric surrounding potential “cuts” to Medicare and Social Security, now would be a good time to put aside the politics and consider how real economic experts view the future of these two crucial senior benefit programs. It’s…
Contribute to Retirement During the Down Market?
A youngster working on Wall Street asked an old-timer for investing tips. The old-timer offered only one – “buy low, sell high.” Facetiously, of course, but there is actually a lot of wisdom in that somewhat humorous response. Those with…
The Importance of “When”
Timing is everything, or so the saying goes. Thus “when” you take action on your various financial resources has much to do with how comfortable you will be during your so called golden years. Although when you’re younger you may…