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Patience will pay off for you in a higher Social Security monthly benefit
Your Social Security benefit will be calculated based on the wages you earned during your 35 highest-paid years, but the amount you actually collect each month will also depend heavily on what age you claim these benefits. If you file…
Inspector General Warns Public About New Twist To Social Security Phone Scams
The Inspector General of Social Security, Gail S. Ennis, is warning the public that telephone scammers may send faked documents by email to convince victims to comply with their demands. The Social Security Administration Office of the Inspector General (OIG)…
Tax changes for 2020
It’s that time of the year again when our attention turns to taxes. The changes this year range from the inflation adjusted amount you can put in a 401(k) retirement plan to the individual income tax brackets that help you…
Should you stay or should you go?
Should you stay or should you go? One of the perks of retirement is getting to choose where to live. Suddenly the entire world becomes a potential place to retire; however, before you decide on a new town, state or…
American workers are contributing more to their 401(k) plans
According to the most recent report published by the Plan Sponsor Council of America, American workers have been contributing a greater share of their salaries to their 401(k) plans’ accounts. Savers stashed away roughly an extra percentage point of their salaries…
ABLE accounts let the disabled save without risk of losing essential benefits
ABLE accounts, also known as 529 A savings accounts, let the disabled plan, dream, and save big without risking essential federal benefits. Until 2014, when ABLE accounts were signed into law under the same tax code as 529 college savings…
Are you prepared for retirement? If not, here are some suggestions
A lot of people are unprepared for retirement. Some people get there and realize they don’t have enough saved or simply do not know what to do with their time. The attached article shares suggestions by financial advisers for what…
Are you spending your retirement money too quickly?
Since you spent majority of your life working and saving for your retirement, you want to make sure your money last as long as possible. Although each person’s planning is unique, there are some universal red flags that your retirement…
Business owners, spouses and Social Security
One of the most common questions asked by business owners is: Should they put a spouse on the payroll to make them eligible for their own Social Security benefits? In the attached article explores all the different options open to…
Keys to organizing your finances to protect yourself
This time of the year we all make a list of resolutions – maybe exercising more, eating better but did you add organizing your financial life on that list? If not, you should. Gaining a sense of control over your…