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World Elder Abuse Awareness Day is June 15th
World Elder Abuse Awareness Day is June 15th. What better day to make people aware of Social Security imposter scams targeting the elderly and others? Their tactics continue to evolve, and recently the Social Security’s Office of the Inspector General…
It’s important to question traditional retirement advice
Post pandemic era is a specially good time to reevaluate your assumptions about your are retirement. There is no one correct way to handle your financial planning, but making decisions that are right for you can set you up for…
Not all your retirement income is taxable
Estimating your future tax rate is a factor in deciding whether or not you should make Roth or pre-tax contributions and how much you need to save for retirement. The majority of your income earned while working is fully taxable…
Retirement Savings Lost and Found Act of 2021
The bipartisan Retirement Savings Lost and Found Act of 2021 will create a national online lost-and-found database for retirement accounts. The bill was first introduced in 2016 by Sens. Warren and Daines would use current employer data to create the…
A redesigned Social Security statement
Social Security Administration rolled out a redesigned Social Security statement on May 1st. The new benefit statement spells out the estimated monthly benefits a beneficiary will get if you start receiving benefits for each age from 62 to 70. According…
The transition to retirement can be daunting on many levels
In your pre-retirement life, you settle into a routine of saving, but everything changes once you retire. “The transition to retirement can be daunting on many levels – emotionally, psychologically, and financially,” says Tiffany Lam-Balfour, Investing, and Retirement Specialist at…
Strategies to get the amount of tax-free income you want
Not many of us enjoy handing over our money to the IRS, especially during retirement. But there are strategies to reduce what you end up paying in federal and perhaps state taxes. So, what are these strategies? In Sarah O’Brien’s…
The basics of stock investing
The stock market can be confusing to most people. Most people do not understand how the stock market works or the terminology surrounding it. If you participate in a pension plan, IRA or 401(k), the success of all your funds…
Is the “no-retirement retirement” right for you?
In the late 1970s, big companies generally had pension plans for their workers; between the pension and Social Security benefits, an individual was guaranteed a “traditional” retirement. But the times they are a-changing, many companies did away with pension plans…
Senior Safe Act of 2018–An Update on Progress
The Senior Sae Act of 2018, signed into law on May 24, 2018, is now approaching its third anniversary. Conceived as a part of overall efforts to train financial professionals to detect and report cases of suspected senior financial abuse, the Act…