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Secure 2.0 and RMDs: What’s Changed?
Secure 2.0 was enacted into law in late December, bringing with it a change in the timing for required minimum distributions (RMDs) from retirement plans. It can be a bit confusing for those right around the age to begin, so…
Despite the Economy, Retirement Savings are Trending Up
A recent report from the Vanguard Group and Bank of America suggest that the gloomy economy and the wallop it put on workplace retirement plan has not substantially affected the savings initiatives of a large portion of the workforce. In…
The Argument on Who Said What About Cutting Social Security Rages On
An article posted today on thehill.com by Brett Samuels showcases the ongoing feud between the Biden administration and members of Congress on the allegations of intent to cut Social Security. In this post, the dialog between the White House and…
Retirement Savings: When and when not touch them
One of the more persistent questions folks saving for retirement often face is whether or not to touch deferred financial resources (IRAs, 401ks, and earmarked savings accounts, for example, when a pre-retirement need arises. Conventional wisdom calls for leaving these…
Looking Ahead at Social Security–A Basic Qualifier
Not everybody is eligible to receive Social Security retirement benefits, and that’s a factor that can come as a surprise to some folks. In summary, workers need to accumulate “credits” during their workforce participation…these credits will determine whether or not…
It’s Tax Season–And Social Security Taxation is Again in the Picture
The fact that Social Security benefits may be subject to federal income tax comes as a surprise to many first-year beneficiaries, and it’s certainly not a pleasant surprise. The taxation of benefits is a net that is capturing more and…
Lost Your Social Security Card? No Worries…Here’s What to do.
It’s not something that you carry with you everywhere…in fact, most sources advise you not to do that…but there are those times when you might need to produce your physical Social Security card. Like for many folks, the whereabouts of…
Considering Filing at 62? Don’t Rush, says this analyst
One of the most frequent questions we receive at the AMAC Foundation’s Social Security Advisory Service from folks approaching age 62 is simply, “Should I begin drawing benefits?” We respond with a discussion on the implications of early filing versus…
A Helpful “Cheat Sheet” on Key Points Current and Future Social Security Beneficiaries Need to Understand
It’s a new Social Security year, and it’s a new tax season, so most folks have a lot on their mind regarding their financial details. It can be confusing, so the folks at CNET have offered some guidance via a…
Saving for Retirement: Here are Some Thoughts to Help You
Social Security benefits are not designed to completely replace pre-retirement income levels. Everybody generally knows that, but how many are aware that the replacement rate is really around 40% or less? As a result of this reality, it becomes essential…