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Tips on finding your lost retirement money
Last year, the Government Accountability Office released a report stating that between 2004 and 2013 more than 25 million people left at least one retirement plan behind when they left a job. It is surprisingly easy to do, we switch…
Is it true that half of older Americans are without retirement savings?
In Andrew Biggs article for Forbes entitled: “No, Half of Older Americans Aren’t Without Retirement Savings”, he disputes the recent claims by the federal Government Accountability Office that 48 percent of U.S households aged 55 and over in 2016 “had…
Is a “bridge job” right for you?
For some people transitioning to retirement can be a difficult adjustment. For those individuals, a “bridge job” may be exactly what they need. What is a bridge job? A bridge job typically has characteristics that are different from one’s original…
Reimburse yourself for Medicare premiums from your HSA
Even though your Medicare premiums are automatically deducted from your Social Security check, you can take tax-free withdrawals from a health savings account to reimburse yourself for them. In Kimberly Lankford’s column “Ask Kim” she answers a reader’s question on…
The Government Accountability Office reports almost half of older Americans have zero in retirement savings
According to the U.S. Government Accountability Office, individuals 55 and older, 48 percent had nothing put away in a 401(k)-style defined contribution plan or an individual retirement account in 2016. This is actually an improvement from the 52 percent without retirement…
What will you sacrifice by retiring early
In Darrow Kirkpatrick’s opinion article appearing on MarketWatch, he writes “It is true that I enjoy enormous freedom now, thanks to the financial flexibility I achieved via saving aggressively and investing wisely throughout my career”, but I can’t do everything…
Spouses don’t realize when they need to save for two
Generally, two-earner households earn more than one-earner households, so they need more savings, but only about half of private sector workers have a workplace retirement plan at any given time. As a result, only one person in many two-earner households…
Need help with your Medicare costs?
(Source – www.medicare.gov/blog) If you have Medicare and you’re facing challenges with paying for health care, you may qualify for programs that can help you save money on medical and drug costs. People with limited income and resources may qualify…
Auto-enrollment helps, but it can only do so much
Although more companies are implementing automatic enrollment into a retirement plan, such as a 401(k) or 403(b), when a new employee start their jobs, but is it enough? While auto-enrollment is a good start, but Americans may still not be…
Sometimes leaving the workforce early isn’t a reason to celebrate
For some of us, leaving the workforce early isn’t a reason to celebrate. Whether because of a layoff or health issue, you might find yourself existing the workforce long before you’d planned to and struggling to manage the financial fallout.…