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Medicare Advantage Open Enrollment period ends March 31st.
If you have a Medicare Advantage plan and are dissatisfied with your plan, your window to switch to another plan or to go back to original Medicare is closing rapidly. The Medicare Advantage Open Enrollment period ends this Wednesday, March…
Retirees need to have the right facts to help them
The recent Fidelity Investments survey found Americans are falling short on not only saving for retirement but also have gaps in understanding key elements of planning for their retirement. “Retirees need to have the right facts, there are steps that…
Many Americans report that they are still struggling to save
Many Americans report that they are still struggling to save but they are optimistic about their current financial future according to MassMutual’s Consumer Spending & Saving Index. The index tracks financial outlooks and behaviors in this changing economic environment caused…
Should the reduction in Social Security benefits for claiming early be reduced?
You are entitled to your full Social Security benefits when you reach your full retirement age (FRA) which currently falls somewhere between 66 and 67; however, you can start receiving your Social Security retirement benefits as early as age 62.…
How to make the most of an inherited IRA
When you inherit an individual retirement account from your deceased loved one, the last thing you are thinking about is all the rules and deadlines you must meet to avoid taxes and penalties. In Emily Brandon’s article for U.S. News,…
Running out versus running short of money in your retirement
A recent survey from Aegon Retirement Readiness found the fear of running out of money is pervasive in the United States with nearly half of Americans have this concern. However, according to a recent study by David Blanchett, head of…
Things you should consider before taking a reverse mortgage
Some seniors are feeling the financial stress caused by the COVID-19 pandemic. For those seniors who are increasingly concerned about funding their retirement, there are options. A new column published at Kiplinger Personal Finance states “There are more ways than…
Some important points about Social Security to keep in mind
Although Social Security has been around for 85 years, the core of the program remains steady; but it continues to evolve to keep pace with societal changes. Knowing these changes will help you better manage and plan your finances during…
Addressing the Rumor Mill: How do benefits change if I don’t file at 62?
It’s a question we get often at the AMAC Foundation’s Social Security Advisory Service: If I elect to not draw retirement benefits at the earliest possible age (62), but stlll stop working, will my Social Security benefit increase? The answer…
Thrift Savings Plans: The Key to Wealth-Building to Supplement Social Security?
Adam Shapiro, anchor and correspondent at Yahoo Finance and co-host of Yahoo Finance Live, offers thoughts on how expanded access to Federal employees’ Thrift Savings Plan (TSP) option to working Americans who do not have access to a long-term retirement savings…