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Attention, Educators: Social Security Basics for the Young
(Source: Social Security Administration) Social Security has created a resource specifically for teachers and students. “Encouraging young people to save now for long-term goals that are decades away can be somewhat difficult. Let them know they have a better chance…
Social Security Services for the Hispanic Community
(Source: Social Security Administration) Social Security is with you throughout life’s journey. Hispanics make up our nation’s largest ethnic minority group with a population of 58.9 million, representing 18.1 percent of the nation’s total population. During Hispanic Heritage Month, we…
The Health Savings for Families Act of 2019 (H.R. 4576)
The Health Savings for Families Act of 2019 (H.R. 4576) would give families the ability to utilize the tax advantages of both a health savings account (HSA) and a health flexible spending account (FSA). This bipartisan legislation would eliminate the…
What is a custodial IRA?
What is a custodial IRA? It is a way for someone younger than 18 to open a Roth IRA. These accounts are managed by a parent or grandparent until the individual is no longer a minor (typically at age 18),…
Women are still lagging in retirement savings
According to a Merrill Lynch/Age Wave report, only 46 percent of millennial women report they are confident in investing, and about 63 percent of women ages 18 to 29 say “financial planning is too difficult to even think about.” That’s…
A majority of Americans say they’d rather cut back on expenses in retirement than make sacrifices now
A recent survey by TD Ameritrade found that 67 percent of Americans say they’d rather cut back on expenses in retirement than make sacrifices now to save for retirement. Although it’s good that workers realize they will need to make…
Don’t have access to a 401(k)? You can still save for retirement with these two accounts
Are you one of the more than 28 million full-time American workers who do not have access to a 401(k) plan? Not having access to a 401(k) shouldn’t keep you from saving for your retirement as there are still things…
Is 72 the new 65?
According to a new survey from Provision Living, while Americans can begin claiming full Social Security benefits between ages 66 and 67, many are continuing to work for both personal and financial reasons. The survey found that,,on average, respondents don’t…
Early retirement may not be the dream you’re envisioning.
For some of us, early retirement is a dream comes true; however, retiring early is more challenging than it may seem. So, if you are day dreaming about never sitting through another meeting or a dreadful commute again, make sure…
Auditors found that SSA paid out more than $40 million to 500 dead people
In the last year alone, inspector general audits found that the Social Security Administration paid out more than $40 million to 500 dead people in just three states: Texas, Maryland and Michigan. The U.S. Attorney’s Office in Detroit in the…