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Preparing for a comfortable retirement
We all want a comfortable retirement; that goes without saying. Yes, there is no one-size-fits-all retirement, but you still want your money to last throughout your retirement years. Heather Taylor outlines nine steps you can take to begin preparing for…
Is a Roth 401(k) right for you?
The Vanguard Groups 2022 How America Saves reports that 77 percent of 401(k) plans had adopted a Roth Savings option; however, only 15 percent of the participants had elected the option. Although a traditional 401(k) plan gives employees a tax…
Options available to current or aspiring retirees
The “4% retirement income rule” is not actually a rule; it is still a great place to start. But, some financial experts are questioning if it can still deliver with today’s low-interest, high-inflation, and low-expected-return stock market environment. Sam Swenson…
Creating a realistic retirement plan
Many media outlets are bombarding you with retirement strategies; it can become overwhelming, causing you to become bewildered and give up. But do not give up; retirement planning can be easier than you think. You can create a realistic retirement…
Will inflation cause you to return to work?
We see it when we go to the supermarket; we go to the gas station; we hear it in the daily news reports; the cost of products and services are rising at a record rate. The rising inflation has Americans…
Spousal and ex-spouses benefits
When a worker files for Social Security benefits, the worker’s spouse may be eligible for a Social Security benefit based on the worker’s earnings. However, there are requirements such as the spouse must be at least age 62 or have…
“Lifetime income illustration” is coming to your 401(k) statement
As a result of the SECURE Act, your quarterly 401(k) statements will look different. Your new quarterly statement will include a lifetime income illustration which shows the monthly income you would receive from your current 401(k) once you retire. The…
Other retirement plan options
A recent survey found that 47 percent of Americans are saving for retirement using a 401(k). How are the remaining 53 percent of Americans saving for retirement? Maddie Duley explains there are many retirement plans available, and it’s helpful to…
What women – or anyone – can do to boost their Social Security benefit
Social Security is neutral with respect to gender – individuals with identical earnings histories are treated the same in terms of benefits. But as of May 2022, men average about $1,848 per month while women receive just $1,494. Why? Women…
FAQs on Medicare Financing and Trust Fund Solvency
(By Juliette Cubanski and Tricia Neuman for Kaiser Family Foundation published June 17, 2022) Medicare, the federal health insurance program for 65 million people ages 65 and over and younger people with long-term disabilities, helps to pay for hospital and…