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Uncashed payout checks from retirement plans are still taxable
The IRS’s Revenue Ruling 2019-19 spells out that you owe tax on the amount for the tax year in which the plan distributed the money even if you don’t receive your check or cash it until the following year. The…
Is student loan debt holding up your retirement?
Student loan debt is often portrayed as a problem that affects the young, but according to recent research on student loan debt by The Ascent, billions of dollars are owed by people over the age of 50, including loans being…
This simple retirement question stumps a lot of people
There are plenty of questions and factors to consider when you are preparing for retirement. But there is one of the simplest retirement questions out there that stumps a lot of people. A third of workers cannot answer this basic…
You can enroll in Medicare in one of three ways
One of the frequently asked questions is: How do I sign up for Medicare? If you are not already receiving Social Security benefits, you will be automatically enrolled in Medicare at age 65 if you’re already receiving Social Security benefits,…
Social Security’s disability program and wounded warriors
The Social Security’s disability program is an important part of our country’s obligation to wounded warriors and their families. For military members who return home with injuries, Social Security is a resource they can turn to at www.socialsecurity.gov/woundedwarriors. This site…
Longevity planning for couples
People 50 years old and older have the highest divorce rate of all age groups according to Pew Research. In fact, the Baby Boomer divorce rate, gray divorce, has doubled since the 1990s. Social observers have offered many reasons including…
Are you a FIRE follower? If not, may be you should be to achieve your retirement goals
The Financial Independence, Retire Early (FIRE) followers are often dismissed as starry-eyed dreamers, but these super savers share tips on how to manage on less than $40,000 a year. By adapting some of the FIRE principles to fit your lifestyle…
Annual costs for employer-provided health plans are rising faster than wages and inflation
The Kaiser Family Foundation conducted their 2019 Employer Health Benefits Survey and found the annual costs for employer-provided health plans are rising at a faster clip than wages and inflation. The study found premium contributions, copays, and deductibles rose by…
Five feasible solutions to improve retirement savings in the United States
Because nearly half of households headed by someone age 55 or older have no retirement savings, with one estimate putting the median retirement account balance across all savers at $40,000, the Aspen Institute Financial Security Program held its third annual…
In time for Halloween, 10 of the scariest retirement statistics
What do American workers fear? Is it debt, medical bills, emergency expenses, or finances in general? If you are in your 40s, 50s, or 60s, there is the additional dread of a retirement with little money. The attached article includes a…