Latest News
Coming to Grips with Social Security’s Uncertainties
As indicated in today’s headline post on this site, there is some degree of optimism that Congress can be spurred into action to address Social Security’s long-term funding problem; nevertheless, those looking into their future retirement plans decades from now…
Retirement Planning Strategies: File Early and Invest the Payments?
Choosing to begin Social Security retirement benefits at the earliest possible point–age 62–remains the most popular choice for many aging into the program. Some select this option out of financial necessity, while some favor the option of simply using Social…
Survey Finds Widespread Support for Options to Address Social Security Funding Word
A University of Maryland School of Public Policy survey conducted earlier this year indicated that there may be widespread public support for a series of key initiatives aimed at addressing the program’s long-term funding shortfall. As reported in a thinkadvisor.com…
The Single-Most Important Question to Ask When Selecting a Benefits Start Date
It’s not something any of us likes to dwell on, but when you’re trying to decide on when to begin drawing your Social Security retirement benefits it’s a key question: What is your expected life span? What makes it even…
A SEP IRA offers distinct advantages if you’re self-employed
A 401(k) plan is a company-sponsored retirement account to which employees can contribute income, while employers may match contributions. But what if you are self-employed? Simplified Employee Pension Plans (SEP IRAs) help self-employed individuals and small-business owners get access to…
The secret weapon in your retirement savings arsenal
Do you have a health savings account? If so, you have a secret retirement plan. A health savings account is a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical…
High rents outpace federal disability payments, leaving many homeless
(By Fred Clasen-Kelly for NPR published September 15, 2022) After two months of sleeping in the Salvation Army Center of Hope homeless shelter in Charlotte, N.C., Margaret Davis has had no luck finding an apartment she can afford. The 55-year-old…
Some common retirement goals
Let’s face it, we humans, are goal-oriented beings since the beginning of time. In our goal-oriented society, setting an objective to work toward is often a powerful motivator that drives professional and personal progress. Why would retirement be any different?…
Strive for a balance between saving for retirement and living
We hear this all the time -Americans aren’t saving enough for retirement. All the recent reports state the average retirement savings is $141,252, with the median 401(k) balance being just $35,345. However, can you be striving too much to meet…
Changes may be coming to your 403(b)
If you have a 403(b), you may need to re-evaluate your retirement plans and how your plan beneficiaries will receive their funds. The IRS has treated 403(b) plans like individual retirement accounts (IRAs); however, that is about to change. Under…