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For worried workers, communication is important from plan sponsors and advisers
This year there is no shortage of things to worry about: contracting or spreading the coronavirus, economic uncertainty, social and political strife and now retirement security. Several reports indicate retirement security is a significant source of stress along with stock…
How Social Security calculations quickly get complicated
Almost all financial planners advise to wait until you are 70 to begin your Social Security benefits. Why? Your benefits at age 70 will be 32 percent higher in inflation-adjusted terms than if you claimed at age of 66. But…
Sign up for Medicare Part B Online, by Fax or Mail
For many people, signing up for Medicare Part B doesn’t require you to leave the comfort of home. Please visit our Medicare Part B webpage if: You are already enrolled in Medicare Part A. You would like to enroll in Part B during…
No, the fifth digit in your Social Security number is not related to your race
One of the most persistent myths surrounding Social Security numbers is the one about the fifth digit and how it is related to racial identity. According to a post on Facebook, it claims that if you are non-white, the fifth…
Older workers retirement plans have changed
The pandemic has derailed many older workers’ retirement plans. For many older workers this pandemic has changed their retirement plans by either receded farther into the future or forcing them into an early and involuntary retirement. In a recent study,…
Ways to prepare to pay for your healthcare during retirement
According to Fidelity’s annual Retiree Health Care Cost Estimate it states that the average 65-year old couple retiring in 2020 can expect to spend $295,000 on medical expenses throughout retirement. This figure doesn’t account for all your costs; it includes…
Plan ahead to avoid most of these mistakes
Let’s face it, we all make mistakes, but it’s never too late to correct some of them. This holds true for retirement planning as well. In John F. Wasik’s column appearing on www.forbes.com, he outlines the five biggest retirement planning…
Business owners need to plan for retirement too
If you are a business owner, you may not be thinking about your retirement plan or you may not know where to begin. In the attached article, Forbes Finance Council members, top industry leaders, share 14 important things business owners…
Do you expect to retire later than originally planned?
In a nationwide survey by Charles Schwab, it found one in five Americans expect to retire later than originally planned because of the economic downtown. The respondents reported they believe they need to save $1.9 million for retirement, but many…
More than a third of Americans say the pandemic altered their retirement plans
In the latest Harris Poll conducted on behalf of The Nationwide Retirement Institute, they found most Americans believe it is more important to optimize Social Security now than it was before COVID pandemic and more than one in four who…