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Living on Social Security alone won’t mean a comfortable retirement
Financial Advisors have been preaching for years that, even if you maximize your benefit amount, your Social Security income won’t be enough to provide you with a comfortable retirement in your so-called “golden years” – you’ll need some kind of…
If you are self-employed, here is how to save for retirement
Only 30 percent of small business owners felt even “somewhat confident” that they will be financially ready to retire at some point according to a recent survey by Paychex. Why? The culprit is: A lack of savings. According to Forbes,…
Will financial literacy prevent poverty in retirement
A recent recommendation from the federal government that financial literacy course become “mandatory” for college students. Why? The motivation for this recommendation is from the government’s Financial Literacy and Education Commission, is “empowering individuals to make optimal financial choices”. In…
The many faces of phased retirement
As the workforce ages, phased retirement grows. Depending on your organization, a majority of phased retirement programs allow employees to return to work while collecting some specific benefits. Employers may have a limit to the number of hours the employee…
Here is why you should not claim Social Security at 62
Many would-be Social Security beneficiaries use a break-even analysis to decide when to claim their benefit. A break-even analysis tells them the age (or ages) when it makes the most financial sense to claim benefits. But experts say it shouldn’t…
Medicare is a patchwork of several different programs
Do you know that Medicare is a patchwork of several different programs? Figuring out what is and isn’t covered by Medicare can be a challenge for majority of enrollees, but the attached article reviews the various sections of Medicare coverage.…
Annual list of the best and worst states for retirement
The personal finance website Bankrate.com rates all 50 states from best to worst for retirement, factoring in criteria such as weather, crime rates, cultural opportunities and affordability. To find out where your state landed on the annual list of the…
Social Security spousal benefits rules
You may be eligible for spousal Social Security benefits if you are married or were married in the past. The amount you receive will be determined by factors including your spouse’s full benefit, when you begin payments and your own…
Social Security benefits are not exempt from being taxed
Many people are surprised to find out that Social Security benefits are not exempt from being taxed. Even though your state doesn’t tax your Social Security doesn’t mean those benefits cannot be taxed on the federal level. The attached article…
Post-retirement blues
As they enter retirement, some seniors may struggle with their value or sense of purpose and some, finding fulfillment can feel like an uphill battle according to The American Psychological Association. However, there are meaningful activities that can help prevent…