Latest News
Inflation has exploded causing retirees to spend more
A new survey by the Senior Citizens League found more than six in ten retirees believe Social Security cost of living adjustments (COLAs) need a guaranteed minimum. Last January, the annual COLA raised Social Security benefits by only 1.3 percent;…
It’s still possible to get your retirement savings back on track
The COVID-19 pandemic had an incredible impact on the jobs and retirement savings of millions of Americans. According to a recent UBS survey, it found this is particularly true for women-“one in four female respondents are delaying retirement plans due…
Is 70 the perfect age to sign up for benefits?
You have an eight-year window to file for your Social Security benefits starting at age 62, the most popular age, to age 70, the least popular. If you file at age 62, your benefits will be reduced, but if you…
Social Security needs to do more than to enter the 21st century electronically
In a recent Senate Committee session, the members questioned the Social Security’s antiquated paper applications and the requirement of sending original documents in the mail such as drivers’ licenses, birth certificates, and passports was actually needed? “One of the problems…
Retirement savings options available for gig workers
More than one-third of US workers (36 percent) participate in the gig economy, either through their primary or secondary jobs, according to survey data published by Statista. Unfortunately, gig employers don’t tend to offer benefits such as “retirement savings plans…
What is a nondeductible IRA?
Many people contribute to an individual retirement account (IRA) to save for retirement and qualify for a tax deduction. But what if you don’t qualify for a traditional or Roth IRA; what then? A nondeductible IRA may be an option…
Hard to dispel myths about Social Security
The Social Security system is complicated with its many rules and regulations that can be easily misinterpreted by the general public. So, that is why so many myths have developed around the topic of Social Security? Once these myths go…
Will money or having hobbies provide happiness in your retirement
Is having a lot of money help you to have a happy retirement? Although it is important to have a retirement nest egg, it is also critical to find and develop your hobbies and passions. The findings of a recent…
Saving for retirement is hard
Is saving for retirement getting harder? So, what are the new obstacles that have made saving enough to retire comfortably daunting? In Kailey Hagen’s article for the Motley Fool, she reviews the four hurdles and what you can do about…
Most workers kept on track to retire during the pandemic
“This past year has been a roller coaster of a year, but for those Americans with a retirement plan, it should come as a relief to know the fundamentals remain sound,” said Melissa Ridolfi, senior vice president of retirement and…