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What you need to know about health savings accounts as you near retirement
Because of the “triple tax advantage” that HSAs offer, it is highly recommended people contribute the maximum every year. An HSA not only gives you a medical emergency fund, but you are gaining money through the tax benefits you experience.…
These moves could help you protect your future benefits
If you have not retired yet, should you be thinking about Social Security? The answer is yes. You should take steps during the course of your career to make sure you get the benefits you deserve later in your life.…
Is it possible to wait too long to start your benefits?
If you delay taking your benefits from your full retirement age up to 70, your benefit amount will increase. Your monthly Social Security benefits will increase by 2/3 of 1 percent each month you wait to start your Social Security…
2023 will be a savers year
Although the stocks and bonds market will continue to be volatile next year by all indications; however, retirement savers will have a banner year. Why? The IRS is increasing savings limits on many retirement savings vehicles. John F Wasik discusses…
The five W’s of retirement
Today, with life expectancy statistics in mind — and depending on your health and genetics — your retirement could last 30 years or more. So, it’s imperative to prepare not only financially but emotionally as well. There are five key…
Sometimes it pays to get your money sooner
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced. There are some good reasons to take your benefits at 62, and Maurie Backman outlines three…
Do not throw out your COLA letter
The Social Security Administration will mail COLA notices throughout the month of December to retirement, survivors, and disability beneficiaries, SSI recipients, and representative payees. If you have received your 2023 Social Security COLA letter, do not throw it away; you…
Helping You Avoid Scams this Holiday Season
Social Security-related scams continue to be widespread, especially during the holidays. Criminals pretending to be from Social Security and other federal government agencies are tricking victims into sending money or sharing personal information. The scam tactics and scripts may vary,…
Op-ed: No “Security” In Social “Security”
Author Dennis Miller of The Burning Platform has an op-ed where he says “There is no ‘Security’ in Social Security.” He explains that Social Security does not work the way many think, in that the federal government is not “saving”…
WEP reform in 2022? Maybe!
Since 1983 the Windfall Elimination Provision (WEP) has affected public employees in a handful of states who did not pay into the Social Security sytem in their jobs but who also had employment where they did. The “penalty” has been…