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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…
States Taking the Lead on Universal Access to Retirement Savings Options
Much has been written regarding the challenges of saving for retirement, as well as on the inability of many families to accumulate a financial nest egg to support their preferred lifestyle in retirement. Much has also been written about the…
SSA/VA Collaborate to Promote Direct Deposit
(Source: Social Security Administration) Title: Direct Deposit: A Fast, Convenient, and Secure Way to Receive Your Benefit Payments At Social Security and Veterans Affairs, issuing timely benefit payments is a core service we both provide. After all, we know you want…
Another Viewpoint on the Early Filing Decision Dilemma
Most financial advisors, along with hoards of general advice documents circulating on the internet and other media channels, take the stance that filing for Social Security retirement benefits at the earliest opportunity–age 62–is generally a bad move. The discount, of course,…
Survey: The Impact of COVID-19 on Retirement Planning
A recent survey conducted by retirement-plan provider Fidelity shows a fairly wide swath of impact on individuals’ retirement plans, with more than half attesting to a setback of at least two years. And some report a more more dire impact, noting “… they…