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The Downside of Deferred Compensation Plans
As reported in an article by Kiplinger contributor Charles Rawl, the use of tax-deferred savings plans has been historically viewed as the preferred way to build wealth for a comfortable retirement. While this strategy does enable wealth building, often overlooked (or…
Beware of Social Security Scams
(Source: Social Security Administration) Social Security phone scams are the #1 type of fraud reported to the Federal Trade Commission and Social Security. Over the past year, these scams—misleading victims into making cash or gift card payments to avoid arrest for…
The Downside of Using Retirement Funds for Current Expenses
It’s tempting…every time you look at that steadily growing balance in your deferred compensation retirement accounts, you wonder if it’s feasible to “temporarily” use some of this cash to meet more current obligations. Well, as outlined in this article by The…
Examining the “$1 Million” Retirement Goal
Will it be enough? Christy Bieber, posting in the Sioux City Journal, takes a look at how attaining this goal–if one even can–will work out for you in retirement. She cites the impact of withdrawal guidelines, inflation, and longevity as factors that…
Saving For Retirement: Time to Take Stock
The Motley Fool’s Maurie Backman, in a post on their website, describes the difficulties many future retirees may face as a result of inadequate financial preparation for their post-career years. Citing statistics that show nearly of Americans woefully behind the curve…
Claiming Benefits Before Age 62
Most folks assume age 62 to be the absolute earliest age one can begin to draw benefits from Social Security. While that’s generally true, there are (as always) some exceptions to this rule. The Motley Fool’s Kailey Hagen, in a post…
“Boomers” Plan to Keep Working in Retirement
Reporting on a survey conducted by TD Ameritrade, Atlanta Journal-Constitution reporter Courtney Kueppers suggests “that young professionals are having a harder time moving up in the workplace due to fewer people retiring.” Citing the study’s finding that 40% of respondents indicate…
Some Thoughts on Avoiding the “Lack of Retirement Savings” Trap
” … more than 50% of Americans either break even or spend more than their income each year.” This alarming note by The Motley Fool’s Maurie Backman in a post on their website points to a looming problem for those inching…
Understanding the Use of a “Bridge Strategy” to Defer Social Security Benefits
Deferring Social Security benefits beyond full retirement age (FRA) is a classic way to ensure that you will be afforded the maximum inflation-protected benefits available to you. Through the application of Deferred Retirement Credits (DRCs) all the way to age…
A Look at the “Old and Broke” Crisis
Forexlive Managing Editor Adam Button, in a post on the Forexlive site, discusses the “almost universally ignored” plight of older Americans plagued by an inability to save for retirement. Citing Social Security’s underfunding and legiwlative disinterest in taking corrective action,…