Latest News
Lower retirement costs by spending less – see how here
This article by Maurie Backman notes that retirement is more expensive than people think. Nearly half of older households wind up spending more money, not less, during their first two years of retirement. However, these five steps can be taken to reduce your retirement costs…
Fifteen years to Social Security retirement fund insolvency
The Committee for a Responsible Federal Budget (CRFB) is a non-partisan watchdog agency in Washington DC that frequently comments on issues related to the federal debt, runaway deficit spending, and reform of entitlement programs like Social Security and Medicare. In…
Do these 15 things with an on-line Social Security account
The Social Security Administration (SSA) has been shifting its resources online for current and future beneficiaries for years now. This is the list of 15 things you can do online with an account, and to read the full piece by…
Social Security as a sole retirement lifeline? “Fuhgeddaboudit!”
It may seem hard to believe, but even in 2019 too many Americans are not saving enough for retirement. Consider that an unfathomable 45% of Boomers have zero set aside, and perhaps worse is the belief that Social Security will sustain retirees…
Answer these three questions before filing for Social Security
Deciding when to begin collecting Social Security benefits is among the most important life decisions one can make. Maurie Backman suggests asking these questions: 1.) Am I at full retirement age (now age 66 and 67 for those born in 1960…
The “lump sum death payment” that won’t pay for flowers today
It’s precisely because so many people know about the one time $255 payment that Congress has been unable to eliminate it to save money in the Social Security program. But, as Tom Margenau explains, there is much misunderstanding about this…
What is a Savings Incentive Match Plan for Employees?
What is a Savings Incentive Match Plan for Employees, (SIMPLE) IRA? It is the small-company version of a 401(k) plan and it works a lot like a traditional IRA. Some of the perks are appealing, there are some definite drawbacks…
Retirement is an exciting period of life, but it’s not necessarily a less expensive one
Majority of us assume that our expenses will naturally go down once we retire, but that is not necessarily so. According to a recent report from the Insured Retirement Institute, the average American aged 65 to 74 spends $55,000 a…
Is working longer your retirement plan?
While working longer may be your “retirement plan” and it is a common-sense way to increase your ultimate retirement income; however, you may not be able to count on working as long as you like. To increase the odds that…
Adult households under 35 are drowning in nearly $2 trillion in debt
According to a recent survey by Merrill Lynch and aging think tank Age Wave, found one in four adults under 35 with a 401(k) has already made an early withdrawal. Why? Adult households under 35 are drowning in nearly $2…