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The 2021 retirement plan contribution limits for 401(k)s and more
The basic salary deferral amount for 401(k) and similar workplace plans remains flat at $19,500; the $6,500 catch-up amount if you’re 50 or older also remains the same but the overall limit for these plans goes up from $57,000 to…
The Covid-19 recession risks draining the Social Security Trust Fund
A new study from the Bipartisan Policy Center found the COVID-19 recession risks draining the Social Security Trust Fund one to five years earlier than its trustees had projected. The Social Security Trustees had estimated the fund would run out…
There is still some time to make the most of the CARES Act benefits
There is still time to make the most of the Coronavirus Aid, Relief and Economic Security (CARES) Act benefits. Although many of these benefits have expired and may not be renewed, but some of them are still available. In Pam…
To figure out how much you should expect to spend in retirement
With older adults living longer and general living expenses continuing to claim, retirement comes with a hefty price tag. However, putting a tag on retirement itself can be tough since everyone’s situation is different but the best place to start…
Who doesn’t want more money in retirement
We all want to retire without worrying about having enough money to pay our bills or enjoy a comfortable lifestyle. But does that mean we may need to sacrificing other luxuries along the way or is there some easy ways…
Do you know the answer to these Social Security questions?
When it comes to Social Security, majority of people often start their benefits without understanding how their choice will affect their checks and their lifetime benefits. In Kailey Hagan’s article appearing on www.kenoshanews.com, she writes there are three Social Security…
A Discussion on the Social Security Earnings Test
The Motley Fool’s Maurie Backman, in a post on www.nasdaq.com, takes a look at the Social Security earnings test–the portion of the program that allows workers to remain in the workforce while drawing benefits before their full retirement age, recognizing that these…
More on the Biden Social Security Platform
Substantial tax increases aside, the Democrat plan for Social Security expansion could be expected to have a positive impact on Americans, potentially moving them out of poverty. This assessment was presented via an analysis by the Urban Institute and reported in a post…
How are Older Workers Faring in the Pandemic?
MarketWatch columnist Paul Brandus takes an in-dept look at older workers during the COVIS-19 pandemic, assessing how their employment prospects look as the economic devastation continues to unfold. He summarizes his material with this statement: “The labor market has never been…
Apply for Medicare Online
(Source: Social Security Administration) You can apply for Medicare online even if you are not ready to start your retirement benefits. Applying online can take less than 10 minutes. There are no forms to sign and we usually require no…