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Hard fact: Social Security must be reformed
To listen to candidates for federal office these days, one would get the impression that just leaving Social Security alone is a viable path forward. But it’s not, according to this sobering assessment by a Congressman speaking at a South…
Retirement planning – What can go wrong?
Your retirement plan is in place, but is there an iceberg in your path? Have you stress-tested your plan to ensure that it can withstand any unforeseen obstacles? Is there danger lurking ahead simply because you haven’t considered and planned…
Applying for Social Security? Here’s what you need to know
Applying for your Social Security benefits usually is part of a huge step in your life – retirement. And although many who are thinking about finally claiming their hard-earned Social Security payments, they are also uncertain about where to start.…
What is the best age to claim Social Security?
It’s something of an age-old question but, curiously, one where the reality of when most people claim seems to conflict with the optimum age for them to do so. This Nasdaq article by Motely Fool’s Katie Brockman explains that while…
Want to be happy in retirement?
Retirement can be scary and lonely for some people; however, it does not need to be. According to the latest MassMutual Retirement Happiness Study, the happiest retirees were prepared financially and invested in their health and social connections prior to…
Hardship withdrawals are on the raise
The state of the economy has prompted some individuals to withdraw from their retirement savings accounts. In 2023, almost four percent of workers took hardship distributions from their 401Ks. Although most people think this is a short-term solution, it does…
Should you downsize
Many soon-to-be retirees think about whether they should be downsizing their homes. We all have heard the pros of downsizing, but does it make financial sense to do so? Nicole Spector outlines the current downsides of downsizing your home in…
Have you filed your taxes yet?
The 2023 federal tax filing deadline of April 15, 2024, is fast approaching; have you filed yet? Are you required to file a tax return? Yes, some Social Security recipients are not required to file; however, it will depend on…
Changing attitudes about retirement
Fidelity Investments released its latest State of Retirement Planning report highlighting changing attitudes about retirement. Led by the younger generation, two-thirds of the respondents are now more inclined to live intentionally by pursuing their passions and dreams in retirement. The…
Are you ready for retirement ?
You envision your retirement as endless golf games, pickleball, and traveling, but are you prepared financially for retirement? Nowadays, retirement could last 20 to 30 years; have you planned for your money to last this long? How do you know…