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Creating a Social Security bridge
One of the most important and possibly stressful decisions many retirees must make is when to begin receiving Social Security benefits. The experts generally agree that waiting until age 70 to claim benefits is possibly the best way to maximize…
New year, new rules for 401(k)
New year, new rules for 401(k). In 2021, there are a few aspects of your 401(k) that will be adjusted. The changes for 2021 include contribution limits, employer matching, catch-up retirement contributions, and saver’s credit. In the attached article appearing…
What Americans fear in retirement
Recent findings from SimplyWise Retirement Confidence Index indicate that “outliving my savings” is commonly cited as a fear, but the end of Social Security is the biggest fear. But no matter the specific cause, financial concerns remain cause the highest…
More households now face retirement insecurity
According to a study by Boston College’s Center for Retirement Research, the outlook for financial security in retirement for workers aged 30 to 59 deteriorated in 2020. The Report found that 51 percent now are at risk of being unable…
Is your Medicare Advantage plan working for you?
Medicare Advantage open enrollment period is running now through March 31. If you find that your Medicare Advantage plan is not working for you, this is the time to think about switching your coverage this year. In Maurie Backman’s article…
Get Medicare information in an accessible format
(Source – www.medicare.gov/blog) Just as there are many types of people with Medicare, there are many ways for you to get information about our program. Did you know you have the right to get Medicare information in an accessible format,…
Beware of dubious finance advice on TikTok
TikTok is a short-form, video-sharing app that allows users to create and share 15-second videos, on any topic. Many people watch viral dances to popular songs, lean to make hot cocoa bombs or paint a wall, but they are also…
Reducing your retirement risks
For majority of retirees, Social Security benefits are the foundation to retirement income. As retirement goes on, because other retirement income sources are exhausted or lose purchasing power to inflation, Social Security provides income that is both guaranteed for life,…
What’s the benefits of gig work?
Some Seniors are choosing to supplement their retirement income with gig work. Gig workers work as short-term, temporary, or independent contactors for one or a variety of employers. According to the 2020 report from the Center for Retirement Research at…
The Effect of Changing Social Security’s Full Retirement Age (FRA)
In recent years, much discussion has ensued in political circles, as well as in “media pundit” circles, about how to fix Social Security’s looming financial crisis, an issue which has been forecasted for decades by the Trustees of America’s most important…