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Thoughts on Claiming Social Security at 62…It’s Still the Most Popular Age
Filing for Social Security benefits at the earliest possible point–age 62–remains the most popular starting point for benefits. In fact, a recent study by retirement solutions firm Allianz reports that a third of all folks close to retirement age are…
Sanders/Defazio Bill to Expand Social Security Encompasses Additional Benefits, Taxes
Legislation introduced earlier this month in both the House and the Senate call for additional cash benefits for seniors, coupled with an increase in the amount of payroll tax to be absorbed by an estimated 7% of the workforce. The…
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…