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How to catch up on retirement saving
If you’re age 50 or older, you can make extra “catch-up” contributions to certain types of tax-favored retirement accounts. Many people fail to capitalize on this opportunity because they don’t realize that making these extra contributions can make a significant…
Social Security Claims Rundown Through Infographic
Understanding one’s rights in the SSD application process is key, which is why SS Rights created an infographic to assist individuals in navigating the Social Security legal processes. Nearly 58 million Americans currently receive Social Security benefits. That tally, according to the infographic, comes out…
The Color of Money: Calculating the ‘replacement rate’
If you resolved to save more for your retirement in 2014, you may be happy to hear about some new research on estimating the income you’ll need. To have enough money for when you are no longer working, you have to…
December 2013 Update: Social Security Enrollment
Just a refresher to start off…the Social Security Program covers nearly 58M people with an average monthly benefit of $1184 per month based on my calculations. Of the 58M, 38M are retired workers, 9M are disabled workers, and the rest…
2013 ends on entitlement high
The total number of people in the United States now receiving federal disability benefits hit a record 10,988,269 in December, up from the previous record of 10,982,920 set in November, according to newly released data from the Social Security Administration. The average monthly…
Medicaid gap leaves 5 million without coverage
About 5 million people will be without health care next year that they would have gotten if they lived somewhere else in America. They make up a coverage gap in President Barack Obama’s health care law created by the domino effects…
Retirement unlikely for some Americans
Tom Edwards grew up in a family that’s been cutting trees and hauling timber in the Pacific Northwest for more than a century. The Spanaway, Wash., resident says he has worked as a logger since he was a kid —…
Younger military veterans are angered by budget cuts to their …
After 25 years of service, including combat tours in Afghanistan and Iraq, Lt. Col. Stephen Preston retired from the Army and began collecting a pension of nearly $55,000 a year. The money made it possible for Preston to go back…
Congress letting 55 tax breaks expire at year end
In an almost annual ritual, Congress is letting a package of 55 popular tax breaks expire at the end of the year, creating uncertainty — once again — for millions of individuals and businesses.Lawmakers let these tax breaks lapse almost…
Retiring? Understand Social Security first
No matter how far away you are from retirement, it’s important to understand your Social Security benefits – and there’s a particularly good reason to do it now. The Social Security Administration (SSA) is bringing back annual paper benefits statements for…