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Shifting away from saving to spending in retirement
Retirement planning is not always about hitting a specific number, but it’s about creating certainty. “For decades, retirement planning has centered on reaching a specific account balance, but as clients near retirement, that benchmark often fails to address a more…
Will the 2027 COLA be bad news for retirees
Social Security’s COLA is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the previous year to the third quarter of the current year. It will…
When to claim your Social Security matters
Claiming Social Security at age 70 allows you to receive the maximum monthly benefit, boosted by delayed retirement credits accrued after full retirement age. However, is this the right decision for you? Jennifer Taylor, writing for GOBanking Rates, explains how…
Debt relief strategies may protect your Social Security
The number of seniors in debt has been on the rise, with 97 percent of Americans aged 66 to 71 carrying an average non-housing debt of over $11,349. Carrying debt into retirement can feel overwhelming for those on a fixed…
What AI can and cannot do in retirement planning
More things are being handled by AI. Is retirement planning the next frontier? Although people have been using ChatGPT to help with retirement planning, can it truly deliver? Andrew Lo, finance professor at the MIT Sloan School of Management, says…
Will inflation derail your retirement?
Twenty-five percent of the study recipients in Northwestern Mutual’s 2026 Planning & Progress Study stated that they are concerned about inflation and how it will affect their retirement. And the experts agree, “They’re right to worry, pros say. “Inflation can…
What working one more year could do
Your Social Security benefit is based on your highest 35 years of earnings, adjusted for wage growth, and calculated using a formula that produces your Primary Insurance Amount (PIA), which is then adjusted for your claiming age. Even if you…
Estimates for the 2027 COLA increase
Based on the March’s consumer price index data, Social Security experts have issued an estimate of the 2027 cost-of-living adjustment (COLA). COLA is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers…
Taxes and Social Security
Social Security income may be federally taxable, depending on your income. This catches many retirees off guard, especially since the passing of the One Big Beautiful Beig Act, which includes tax deductions for seniors. Marc Guberti, writing for GOBankingRates, explains…
Who Will Solve Social Security’s Financial Crisis?
Congress has been kicking this can down the road for a long time. For several decades, the Trustees of Social Security have warned, in their annual report to Congress, that Social Security is facing a financial crisis. For many years,…