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It’s Not Your Grandparents’ Retirement Anymore
A long time ago, retirement was looked as the final life phase…the time for rockers and sunset-gazing and just taking it easy. That scenario seems to rapidly becoming a thing of the past, for many reasons. For some, retirement for…
The $15 Minimum Wage and Social Security’s Future
It’s still in the political negotiation stage, and who knows what might happen, but a $15/hour minimum wage standard would produce one clear result…workers would be contributing more payroll tax to the Social Security System. The Motley Fool’s Maurie Backman, in…
Joe Biden and Your Retirement Planning
It’s still pretty early in the Biden Presidency, but for those concerned about their long-term financial situation in retirement, it’s time to focus on what could be coming down the road. In a post nasdaq.com, David J. Scranton (Founder of The…
Social Security Eligibility: Your First Moves
OK, you’re reaching the threshold of Social Security benefit eligibility. What should you do? Most financial advisors would say wait as long as you can–at least until your full retirement age (FRA) or even to age 70 if you can.…
The Pandemic’s Impact on Women and Their Retirement Planning
There’s no question that the COVID-19 pandemic has had, and is continuing to cause a massive upheaval in life as we’ve known it. And, unfortunately, there doesn’t seem to be any near-term relief in sight, at least with respect to…
Strategies for Maximizing Social Security Benefits
They may be “no brainers,” but they are fundamental steps that all future retirees should be aware of in order to get the most out of their future Social Security benefits. From advice that can boost one’s average indexed monthly…
More Social Security/Retirement Myths to Know About
We frequently cover here the existence of myths and misunderstandings that keep circulating in popular lore, essentially because there are quite a few but, more importantly, because they can have a substantial impact on retirees’ financial wellbeing if not debunked.…
Lingering Effects of the Pandemic on Retirement Savings
Mary Johnson, Social Security and Medicare policy analyst for The Senior Citizens League, reports in a post today on https://www.prweb.com that many retirees note that the savings component of their financial planning has not completely recovered from the COVID-19 pandemic and…
COVID-19 and Retirement Planning–Maybe It’s Not as Big a Problem as Feared?
A new report by the National Association of Plan Advisors suggests that “things could have been a lot worse” with respect to impact COVID-19 has had on retirement planning. Citing findings from the Center for Retirement Research at Boston College (CRR),…
Spousal Benefits, Impact of a One-Time Bump in Income, and Paying Self-Employment Tax–Some Thoughts
Laurence Kotlikoff, Boston University economist and Founder and President of Economic Security Planning, offers explanations on three separate topics integral to Social Security in this post on https://www.forbes.com. Question no. 1 addresses the calculation of spousal benefits, while no. 2 deals with…