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Employers should be promoting HSAs as a retirement plan
A recent survey from a leading health savings administrator found “65 percent of consumers report leveraging their health savings account (HSA) as a spending resource, with 23 percent stating they use their account equally for saving and spending.” However, over…
Pandemic hit older workers harder
The COVID-19 pandemic has accelerated the pace of retirement among baby boomers according to Pew Research Center analysis of monthly labor force data. Pew is reporting “the number of boomers who reported that they were out of the labor force…
Should you work during your retirement?
When most people retire, they do not plan on continuing to work. Yes, some people must work out of necessity; however, if you can choose to work, there are many benefits to working in retirement. In Maurie Backman’s article appearing…
Are you ready to claim your Social Security benefits?
You can claim your Social Security benefits as early as age 62 and as late as age 70. Although age 62 is the most popular age to begin collecting your Social Security benefits but is it the right age for…
The Importance of Detailed Retirement Planning in the Wake of COVID-19
The recent Fidelity Investments 2021 State of Retirement Planning Study notes that, as a result of the pandemic, 82% of surveyed Americans have been impacted negatively with respect to their retirement savings plans. A BrandPoint article posted on indexjournal.com elaborates on…
Support for Bipartisan Attention to the TRUST Act
The “Time to Rescue United States’ Trusts (TRUST) Act,” recently introduced by a bipartisan, bicameral contingent of congressional members, potentially opens the door for across-the-aisle cooperation on the financial dilemmas facing several major trust funds, most notably the Combined Social Security Old-Age…
Assessing How Social Security Benefit Cuts Could Affect You
The Social Security solvency problem has been discussed for years at this point, and there has been quite a bit of speculation about the potential for total reform before the trust funds are depleted. So far, though, there’s been no…
Senator Calls for SSA to Re-Open
Sen. Josh Hawley (R-MO) today called for federal government offices to reopen in-person offices for services, citing complaints he’s received about constituents’ inability to make use of important government services, including Social Security. While some offices have begun phased re-openings, Hawley…
Myth-Busting Time: Three Persistent Illusions
Anyone looking ahead at their retirement financing needs to do some careful planning, and this should include taking a serious look at some of the long-standing folklore that can cause problems down the road. For example, there’s the false assumption that Social…
Unemployment Benefits and SSDI
While collecting unemployment benefits, it is also possible to collect Social Security Disability Insurance (SSDI) payments since the ‘Social Security offset” has been repealed. The details on this, as well as information on provisions for collecting unemployment along with Supplemental Security…