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How to max out your 401(k)
One decision you will need to make when you sign up for your company’s 401(k) plan is: How much you want to, or can contribute to the account? So how do you determine the amount to save in your 401(k)…
Don’t fall victim to these retirement mistakes
You have been looking forward to your retirement, but did you plan for it? If you are not careful about making some key decisions in managing your money, you could wind up cash-strapped and miserable. The attached article outlines a few…
The problem with borrowing from your retirement plan
Workers are advised to sock away funds in an IRA or 401(k) to ensure that they have enough money to cover their living expenses in retirement. But without independent savings, these retirees risk struggling financially when they are older. According…
Social Security has a cash flow problem but it’s incapable of going bankrupt
According to an analysis by the Center on Budget and Policy Priorities, 22 million Social Security recipients are being pulled above the federal poverty line solely because of this monthly payout. Despite the urban myth, Social Security is incapable of…
Understanding these lesser-known Social Security rules in the course of your retirement planning
It’s important to understand Social Security rules so you can maximize your benefits once you’re eligible to claim them. In the course of your retirement planning, there are a few key facts about Social Security that you need to be…
Some basic Social Security questions answered
In this Forbes article, regular contributor Larry Kotlikoff answers questions about the effect of working while collecting Social Security benefits, as well as what happens to disability benefits when you reach full retirement age. In his “Ask Larry” series, Mr. Kotlikoff regularly…
Social Security may send annual statements again
In a 2011 cost cutting measure directed by Congress, Social Security stopped automatically sending annual benefit statements to workers 25 and older. Annual benefit statements were only sent annually to those age 60 or more, with younger folks getting a statement…
Social Security – Caring for our children
Children are among the the most vulnerable assets in our society, and Social Security is there for them. Social Security pays benefits to minor children of those collecting benefits, as well as disabled children, who together make up the over 4…
Medicare and Social Security – separate but connected
Although many seniors tend to think of these programs as two different parts of one program, the reality is that they are two entirely separate Government entities. The probable reason for confusion on this is that the two are closely aligned,…
Early retirement planning needs to be realistic
Sure, everyone would like to retire “early” – at whatever age “early” means to them. But those who want to actually reach that objective must take a very deep and honest look at what retirement means to them. Does it…