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The Psychology of Retirement Fund Withdrawal Strategies
If your personality can classify you as an extrovert and more organized and thorough in your financial deliberations, you are more likely to avoid totally depleting your retirement funds early. Conversely, if you’re often worried or stressed or have an…
Truncated Social Security Numbers to be Allowed on W-2s Beginning in 2021
In a move designed to assist employees in protecting the privacy of their personal financial data, the Internal Revenue Service (IRA) has authorized employers to redact the first five digits of employees’ Social Security numbers on Forms W-2 produced after…
More on Working While Drawing Benefits
There are a few key points those electing to continue in the workforce after starting Social Security benefits should be aware of, from the Earnings Test implications to the potential taxation of benefits as a result of income levels. TheStreet’s Retirement Daily editor…
What should I do if I get a call claiming there’s a problem with my Social Security number or account?
(Source: Social Security Administration) If there is a problem, we will mail you a letter with your Social Security number. Generally, we will only contact you if you have requested a call or have ongoing business with us. Recently, scams—misleading…
The Earnings Test: Understanding How Withheld Benefits are Repaid
In this post on forbes.com, professor of economics at Boston University and Forbes contributor Laurence Kotlikoff provides an explanation of the manner in which benefits withheld as a result of the Social Security Earnings Test are factored back to the…
Savings Difficulties Expressed by More Than Half of Surveyed Workers
With 52% of American workers claiming concerns in accumulating wealth for retirement, it seems that we’re not making much in the way of headway in resolving one of the most daunting obstacles facing retirees-to-be. Bankrate reporter James Royal examinations the…
Planning for the Inevitable Recession in Retirement
There has been quite a bit of speculating on the subject of if–or when–the U.S. economy will experience a recession. Most economists view this as an inevitable future chapter in the country’s economic history, so what does that mean to…
Social Security Strategies for Divorcees
Maybe it’s far from your mind during a divorce, but paying attention to the intricacies of Social Security’s rules governing benefits for divorced partners can be particularly important in the long haul. ThinkAdvisor Contributing Editor Jane Wollman Rusoff takes a look…
More Reasons Why Social Security Must be Saved
Although this article comes at the subject from a somewhat different angle, the message is still crystal clear…the financial plight of America’s Seniors is such that an across the board cut in benefits would be devastating. The statistics presented in…
Thinking Ahead: Career Strategies to Improve your Social Security Benefits
Since Social Security benefits are mostly based on the highest earnings during 35 years of a career, it’s logical to do what ever one can do to improve the calculation process in their favor. And one of the surest ways…