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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…
Will there be a cost-of-living adjustment (COLA) in 2021?
Will the nearly 70 million people receiving Social Security benefits receive a cost of living adjustment (COLA) in 2021? According to Social Security expert Jim Blankenship, he stated “It’s really tough to say what Social Security’s COLA may be for…
Eliminating these expenses means substantial savings in retirement
Many of us retirees are tempted to spend more money on leisure activities and there are some costs that tend to increase as people age – health care. But there are many costs that decline in retirement or can be…
The most common worries Americans have about their retirement years
Americans are increasingly anxious about not just the present but their financial futures. The latest Retirement Confidence Index from SimplyWise found 62 percent of Americans say they are more concerned about retirement than they were a year ago. So, what…