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The Social Security Trustee’s Annual Report – Habitually Late
Although the Social Security Act requires that Trustees of Social Security provide a report on the program’s health annually by April 1st, the last time the report was issued on time was in 2008. Here we are in July of…
Things You Should Know About Social Security
Flying in the face of a previous study showing that a majority of millennials believe they are very knowledgeable about their future Social Security options, a more recent Harris poll contradicts that notion. The newer poll released by the Nationwide Retirement Institute…
Delaying Your Social Security Claim Will Increase Your Benefit for Life
Most financial advisors agree – delaying your claim for Social Security benefits is a smart move which will make your retirement a lot more comfortable. Unfortunately, there are still many misconceptions about how delaying your claim for SS benefits actually…
How to pick a Medigap plan that’s right for you
If you have about to turn age 65, you are receiving confusing literature on your Medicare choices. One choice you are eligible for is a Medicare supplement insurance, also known as a Medigap plan. Medigap plans are regulated by the…
Don’t be ill-informed about Social Security
The Social Security Administration reports that among elderly Social Security beneficiaries, 21 percent of married couples and about 45 percent of unmarried persons rely on Social Security for 90 percent or more of their income. So, it is vital to…
Americans are more worried than ever before about their retirement risks
The annual retirement Risk Readiness Study by Allianz Life Insurance Co. of North America is out, and their findings are not new but they are alarming. It found more Americans are worried than ever about their retirement risks, including concerns…
Longevity risk
Do you have “longevity risk”? What is longevity risk? It is the fear that you might outlive your retirement savings. You are not alone. According to a survey by SimplyWise, 49 percent of Americans say that they fear they’ll live…
401(k) rollover mistakes are annoyingly common
Along with the 12,000 baby boomers retiring each day and millions of Americans are switching jobs, this has led to a flood of 401(k) rollovers. According to David Rae, a Certified Financial Planner, many workers will make one or more…
The cost of health care in retirement may not be as scary as you think
We are all concerned about the exorbitant costs of health care in retirement. The latest dollar amount cited is around $300,000 for an average retired couple age 65 in 2021; however, these concerns may be overblown. The Center for Retirement…
Who can receive a widow’s pension?
Under Social Security, surviving spouses are not the only ones who qualify for a widow benefit. However, there are specific rules and regulations regarding the payment of a widow benefit. In Rosemary Carlson’s article appearing on Yahoo!Finance website, www.finance.yahoo.com, she…