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Vote Like Your Social Security Depends on it – It May.
Most Social Security recipients are keenly aware that Social Security is facing financial issues which could mean benefit cuts in the future. But the pandemic has almost certainly made “the future” much closer than it was before, which means that…
Sources for a little extra cash in retirement
While fewer jobs are offering pensions to help cover retirement costs and some are even canceling 401(k) matching contributions, some workers are struggling to set aside money for their futures right now. If you have concerns about your low 401(k)…
Should you still be contributing to your 401(k) during these uncertain times?
In the current economic climate, many companies are cutting jobs and/or benefits such as company match 401(k) plans. If your company has suspended retirement benefits and company matches, should you continue to contributing? While contributing to your retirement savings is…
2020 has been the year of change and it’s not over yet
This year has been the year of change. And we still have an election in November to get through but no matter what the outcome is, expect a lot of changes to take place. So far, we saw the SECURE…
Social Security Administration’s Newly Redesigned Retirement Benefits Portal
The Social Security Administration is working hard to continue improving their website to provide you with clear, helpful information, and easy access to our online services. Their new retirement portal is more user-friendly and easier to navigate, whether you’re ready to learn…
Social Security benefits might be smaller for those turning 60 this year
For a middle-income worker who turned 60 this year, they will see a 13 percent reduction in annual Social Security benefits. Why? The Social Security Administration benefits formula is complicated but it basically boils down to the fact the formula…
Should you claim your Social Security benefits early due to the pandemic?
For many Americans Social Security benefits are the keystone of their retirement plans so it’s critical to ensure you are making the most of them. One way is choosing the right age to begin claiming because it will affect how…
You need to be ready in case another crisis occurs
The COVID-19 pandemic has changed many things about our world and one of the most important things is the way we save for retirement. One thing COVID-19 has shown us is that the economy can turn on a dime, how…
Medicare’s Trust Fund is in trouble too
We always hear that Social Security is in trouble, which is true, but do you know Medicare is strained too? The Medicare (Hospital Insurance or HI) trust fund could run out even sooner than Social Security’s trust fund. The Medicare…
More education is needed on how to maximize your health savings account (HSA)
A recent study found older employees are slightly more aware than younger employees of how much money they will need for health care in retirement. The paper published by Optum Bank and Empower Retirement found most people seem to have…