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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…
Good reason to hold off on taking your benefits
According to a new Nationwide survey, it found 14 percent of people now say they plan to delay their Social Security benefits as a result of the pandemic. Will you be one? But will it be the smartest move for…
A list of several planning steps to take with your loved ones before you retire
We all get excited as we approach retirement, daydreaming of how to spend our “golden” years and enjoying the fruits of our labors. However, there are some important decisions you should be making before the fun begins. Although some of…
Minimize your taxes in retirement so you don’t pay more than you have to
According to the Nationwide Retirement Institute’s Tax-Efficient Retirement Income Study, it found more than a third of current retirees did not consider how taxes would affect their retirement income when planning for retirement. It also found roughly one –third wish…
You don’t need to be super wealthy to be happy in retirement
People will tell you that retirement planning is all about numbers, but is that true? Most retirees will tell you that the numbers is only half the story. Yes, you will need enough money to get by but you don’t…
Using two tactics from the FIRE (Financial Independence, Retire Early) movement
In the TD Ameritrade’s 2020 Road to Retirement report , it indicates that only eight percent of savers between the ages of 50 and 59 have $1 million saved; however, only 37 percentage in that same age group have saved…
Before you begin claiming Social Security be sure you’re aware of these issues
Transamerica Center for Retirement Studies is reporting that approximately 37 percent of baby boomers say they expect Social Security to be their primary source of income in retirement. If your retirement plans rely solely on Social Security, make sure you…
Mary Beth Franklin: Pandemic and Retirement Concerns
The COVID-19 pandemic has created a wide swath of havoc worldwide. That’s, of course, and understatement, but one of the examples of this havoc is the growing concern among seniors about the impact of Social Security’s financing. InvestmentNews Contributing Editor Mary Beth…