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Wage garnishment of your Social Security check
Do you know that certain types of debt can result in wage garnishment, including your Social Security check? Good thing is, for most types of debt, such as personal loans, credit cards and medical bills, Social Security cannot be garnished…
Do you know these four HSA attributes?
Today’s employees are woefully under-informed regarding the advantages of a health savings account (HSA) according to data from Bank of America’s 2019 Workplace Benefits Report. They found only 11 percent of employees surveyed could correctly identify the four attributes of…
For those individuals who may live to be 150, you need a good retirement plan
According to Guinness World Records, the oldest person alive is currently 116 years old and they say that the first person to live to be 150 is alive. So how do you plan for retirement if you may live to…
Gray divorce is costly and complicated
A recent research paper on divorce found that about one percent of married Americans over age 50 get divorced each year. In a gray divorce, women are disproportionately affected financially by divorces: the average woman sees her standard of living…
Not knowing these three things could shrink your Social Security benefits
Social Security is a complex program with lots of rules; however, if you don’t educate yourself on how the program works, you could wind up reducing your benefits and potentially struggling financially as a result. The attached article reviews three…
7 Reasons Sen. Warren’s Social Security Plan Will Fail
Sean Williams of The Motley Fool takes aim at Sen. Elizabeth Warren’s (D-MA) plan to increase beneficiary payouts by $200 a month, or $2,400 a year. Her plan would also update a number of rules, and set minimum monthly benefits at 125%…
How To Increase Social Security Payments After You’ve Retired
There’s no magic bullet to boost Social Security benefits or secret stash of cash for folks despite on-line articles that suggest these things. Essentially the ways to maximize benefits are or should be well known. This piece by ABC news…
Best Advice for Financial Success
With Social Security on replacing about 40% of pre-retirement income and its long term financial health imperiled due to congressional inaction, saving money has never been more important. Katie Brockman reports on a survey from New York Life. The top five pieces of…
5 Reasons to Retire as Early as You Can
With so many articles stating to delay Social Security and to work as long as possible, Selena Maranjian’s piece here from The Motley Fool provides a different viewpoint. For those who have saved fairly diligently, early retirement is possible. She dives…
Congressional Budget Office Update to Social Security spending
The Congressional Budget Office (CBO) has issued its annual update to its long-term projections on Social Security. Click The latest update to read the full 90 page PDF document or click here for the brief highlights posted by the National Association of Plan Advisors. Two noteworthy…