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3 Steps to Retiring Early Even if You Have No Savings
Many people dream of retiring early, but relatively few are able to do so. According to a survey from TD Ameritrade, 50% of Americans say they’d like to retire by age 60, but only 33% expect to be able to do…
Why Social Security Needs to Change the Way It Calculates Raises
Maurie Backman takes readers through how Social Security calculates the annual cost of living adjustment (COLA). She discusses why COLAs have been so low and what might be done to improve on that. Between 2002 and 2011, Social Security COLAs averaged 2.43%, in…
Might You Regret Waiting Until 70 to Claim Social Security?
The general mantra is always delay Social Security as long as possible, to age 70 if possible, to maximize your monthly benefit for the rest of your life. But is that universal advice, in other words, is it always wise? Christy Bieber…
48% of Retirees Aren’t Tracking This Major Retirement Expense
Health care is the wild card in retirement. Nearly half of retirees are not tracking what they spend on healthcare according to a recent study from insurance company Allianz Life. A paper from the Center for Retirement Research at Boston College…
A 35-Year Low for This Soc Sec Stat Is Reason to Celebrate
Sean Williams reports on one good statistic in an otherwise sea of bad news on Social Security’s long term financial health and outlook. Between 1995 and 2016, more than 70% of retired workers receiving a benefit had their payout reduced for…
Expedited Handling of SS Disability Claims for Wounded Warriors
Regardless of our political persuasion, we can all agree that our “wounded warriors” deserve special treatment, especially those veterans who are disabled as a result of their service to our country. And for that purpose, the Social Security Administration provides…
Start Early for a Comfortable Retirement
There’s hardly a financial planner alive who will not suggest you start saving for your retirement very early in your lifetime. A stark reality, though, is that it’s usually difficult early in life to put money aside for retirement while you’re trying…
Financial Planning in the Decade Before You Retire
Sure, it’s important to start saving for your retirement in the early years of your working career, and to tweak your savings objectives as you age. But the 10 years immediately preceding the date you plan to retire is, perhaps, the…
Special Needs Trust Can Protect Disability and Medicaid Benefits
Americans who suffer a disabling injury and collect Supplemental Security Income (SSI) disability benefits may find themselves with a conundrum – proceeds from a personal injury lawsuit may cause them to lose their SSI income and, most importantly, their Medicaid healthcare coverage. That’s…
Q&As from the Social Security Administration
The Social Security Administration (SSA) receives myriad questions from both current and future beneficiaries, and attempts to answer those questions in a timely way. Periodically, the SSA shares some of the questions they receive and the answers they provide, as…