Latest News
Should you reduce your monthly retirement contributions to pay off debt
If your income has been hit by the coronavirus pandemic or you’re anticipating less money coming in, should you reduce your monthly retirement contributions to pay off debt during this economic recession? Although not ideal, but if you are regularly…
Is it time to convert your retirement accounts to a Roth IRA?
If you don’t act, taxes could take a huge chuck out of your retirement income. Each year as many as 50 percent of current retirees lose a collective $38.9 billion to federal taxes. Why? Once your countable income hits a…
What is a Simplified Employee Pension (SEP) plan and do you qualify?
Are you self- employed or a small business owner? Do you have a retirement plan? If you are a self-employed individual or a small business owner you can establish individual retirement accounts, called SEP IRAs for yourself and your employees. …
Is the coronavirus a wake-up call for Americans saving for retirement?
The coronavirus pandemic has served as a cautionary tale for Americans saving for retirement. Nearly a quarter of Americans tapped into, or plan to tap into, their retirement accounts because they lack adequate three to six months of cash savings.…
What you can do to prepare for the unexpected costs in retirement
According to a recent study published by the National Bureau of Economic Research, the death of a spouse was one of the costliest events for retirees. The researchers discovered the average net worth drops by more than $30,000 over a…
When will Social Security reopen to the public?
The Social Security Administration (SSA) has not called employees back to their offices en masse, nor has the agency indicated when it might do so. Although other agencies have released their reopening plans, neither employees nor the unions that represent…
How to file an appeal if your Medicare Advantage Plan doesn’t cover an item or service
If you have a Medicare Advantage Plan, you know it covers a lot of items and services, like prescription drugs, diabetic test supplies, cardiovascular screenings, and hospital visits. But, what should you do if your plan won’t cost an item…
Three ways to apply for Social Security
Millions of baby boomers are ready to retire but the recent coronavirus pandemic may make the process more difficult, especially if you need to go into a physical office to open the account. If you are approaching retirement and you’re…
What you should consider before you claim Social Security
When to claim your Social Security is no casual decision. There are some factors you will want to consider years in advance. You may want to consider how long do you think you will live? Will you keep working? If…
Is claiming your Social Security benefits at 62 a smart move?
Do you know what the perfect age is to claim Social Security benefits? Although age 62 is the most popular age to sign up for Social Security, it also comes with financial consequences. When you file at your full retirement…