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Baby Boomers Reluctant to Retire; What About the Fed’s Retirement Thesis?
True to their “live to work” reputation, some baby boomers are digging in their heels at the workplace as they approach the traditional retirement age of 65. While the average age at which U.S. retirees say they retired has risen…
The Hidden Costs of a Minimum Wage Hike
When wages go up, so do taxes that employers must pay. As states, cities and counties — and potentially the federal government — increase minimum wage, it’s not just the hourly wage hike that business owners must budget for. Some payroll…
Health Care Consumes Over a Third of Social Security Checks
Out-of-pocket health care costs for seniors consumed over a third – 37 percent – of the average Social Security check in 2010, according to a new analysis by Social Security Works of data from the Center for Medicare and Medicaid Services.…
Adding Social Security + 401(k)
The big question for many people committed to retirement planning is this: Can Social Security and a 401(k) provide retirement security? The Employee Benefit Research Institute, or EBRI, a nonprofit research firm, studied the question and concluded that the answer is yes — as long…
STERN ADVICE-That retirement time bomb
The baby boom generation is moving into retirement with something no other generation has had: huge tax liabilities. With their savings concentrated in tax-deferred retirement accounts like 401(k)s or individual retirement accounts, many boomers will have to pay income taxes on…
Report shows biggest areas of confusion over Medicare
Medicare can be confusing in dozens of ways — take doughnut holes, Special Needs Plans, PDP coverage, late enrollment penalties and Medigap A through N. Now, a study released Wednesday by the Medicare Rights Center zeroes in on the three most…
Social Security Administration To Build Private Cloud
The Social Security Administration (SSA) wants to build an on-premises private cloud, and it is searching for software packages that would help the agency do a better job of using its existing infrastructure and automate processes that are currently done…
GILBERT: AMAC pushing common sense retirement reforms
A group that brands itself as a rival to AARP is pushing non-partisan reforms to Social Security that Congress ought to consider. Although the seven-year-old Association of Mature American Citizens calls itself a conservative alternative, the group’s proposal lacks the privatization…
Social Security Column: Medicare Best Care For People 65 Or Older
If you are age 65 or older and haven’t signed up for Medicare Part B (Medical Insurance), now is the time to consider doing so. The general enrollment period for Medicare Part B runs from Jan. 1 through March 31…
Generation X faces biggest retirement hurdles
Baby boomers are not as prepared as they should be for retirement, but it is Generation X that faces the biggest financial threat in the future, according to a study by Financial Finesse. The study looked at the financial strengths, weaknesses,…