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Turning 70 soon? What you need to do.
Anyone reaching age 70 without claiming Social Security retirement benefits is in a great position. Achieving this milestone this way means you’ve maximized the monthly benefit amount. But it also means the delayed retirement credits will stop, so now would…
Those Social Security Myths (Lies), Again
Some things just won’t go away, like the rumor that keeps resurfacing that Social Security is on a path toward bankruptcy. There are several others that keep circulating, and at the AMAC Foundation’s Social Security Advisory Service, we’ve handled most–maybe…
Stimulus Payments and Your Social Security Taxability
As the tax season unfolds around us, many seniors have a question about what the impact of those stimulus checks will be on their net Social Security benefits. Rest easy…these payments do not affect what Social Security calls your “provisional…
What is the appeal process for original Medicare?
If Medicare denies coverage for any service, you may appeal their decision. The appeals process involves five levels so if you do not win on the first level, you may move on to the second. So what are the reasons…
Options for preserving the value of IRAs
A report from the Congressional Research Service found while only a small percentage of individual retirement account holders take early withdrawals from those savings annually, such withdrawals can have long-term impact on their retirement savings. They estimate the so-called “leakage”…
Why having an emergency fund will help you save more for retirement
One thing 2020 taught us is how important it is to have an emergency fund. Unfortunately around 25 percent of US adults say they have no emergency savings at all, according to GOBankingRates, while more than 23 percent say they…
When you choose to end your federal career
Your choice of when to end your federal career could make a big difference in your financial security in retirement. If you are thinking about moving on into a new phase in your life, there are a few things to…
How to choose between Medicare Advantage and Medicare Supplement plans
When you sign up for Medicare you have to choose either a Medicare Advantage plan or consider acquiring a Medicare Supplement plan that complements original Medicare. So, what is the difference? Medicare Advantage plans replace Original Medicare, but you don’t…
Are there alternatives to your workplace retirement plan?
Could stashing money in your workplace retirement plan make it more challenging for you to retire? Granted, some workplace plans are wonderful while others are costly, inflexible, and just not right for you. What can you do about it? In…
It’s never too late to start saving for retirement
Saving enough for retirement can be intimidating or seem impossible but getting to where you envision yourself in the future requires that you take steps now. It is never too late to start saving there are ways that you can…