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The financial consequences of working part-time in retirement
These days, it’s very common for people to work part-time when they retire. When Consumer Reports asks readers why, about a third say they do it for the money. But most say that working gives them a sense of purpose. Tobie Stanger with Consumer…
Essential Number For Retirement Planning: Your Personal Life Expectancy
You’ve probably seen the Prudential Financial stickers ad. A professor asks: “How old is the oldest person you’ve known?” In response, hundreds of folks place age stickers on a wall. The message is that you too can live to 100 and…
Senators Lament Continued Social Security Payments to the Deceased
Several senators on the Homeland Security and Governmental Affairs Committee are calling on SSA to do more to curb improper payments to the deceased and to better share information with other agencies so they can do the same. GAO reported…
The Kiss of Financial Security
Retirees can use any number of strategies to secure their financial future, all of them boiling down to the fundamental idea that you have to develop an income stream, then manage your expenses so what goes out doesn’t exceed what comes…
Medicare Recovery Audit Contractors Ask Congress for Changes
While the American Hospital Association recently accused Medicare officials of breaking the law by suspending appeals of Recovery Audit Contractor decisions to administrative law judges for two years to reduce a huge backlog, an association representing contractors has a different perspective. Read…
Social Security: Maximizing Spousal Benefits
Most strategies on Social Security planning focus on maximizing a couple’s total lifetime benefits based on coordinating spousal benefits. However, while spousal benefits are crucial to SS retirement planning, don’t be surprised if clients, or even colleagues, are not familiar…
The Incredible Shrinking Paycheck
If you work for a paycheck, you already noticed that. If you make more than $100,000 a year, you are one of approximately 10 million Americans in that category. Some say you have it made. Yet when it comes to taxes in 2014, you are hit especially…
We must protect Social Security
Over the past three years, Congress’ solution to our budget crisis has been a temporary patchwork of fiscal bandages, passed at the stroke of midnight before critical deadlines. Unfortunately, some have proposed balancing our budget by cutting Social Security benefits. That’s unfair…
This Little-Known Social Security Trap Could Leave You With No Benefits
Social Security is a key part of your financial security in retirement, but many people don’t realize that they’re not even eligible to receive Social Security benefits. One little-known rule often gets ignored until it’s too late for unsuspecting retirees.…
Medicare Cuts Stalled Growth of CCRC, Senior Care Spending to $151 Billion
Healthcare spending for freestanding skilled nursing facilities and continuing care retirement communities increased slightly to $151 billion in 2012, representing a deceleration in spending growth from the previous year, according to the Centers for Medicare & Medicaid Services (CMS). In 2012,…