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Caution: Tax Season equals Scam Season too!
It’s almost like a rite of spring – income tax season seems to bring a whole new bevy of scam and fraud schemes, all designed to get at your money. As stated in this article, no Government agency – not the IRS,…
Will you pay income tax on your Social Security benefits?
Many are surprised to find that their Social Security benefits may be taxable income. If your “combined income” – that is all of your other income plus 50% of your Social Security income – exceeds certain levels, your benefits may…
Workplace Retirement Plans: A solution for the retirement crisis?
There’s little question that workplace retirement savings plans – think 401(k), IRA or any other qualified retirement savings plan – work well and add much to the retirement security of American workers. Indeed, 4 out of 5 workers with access to…
Proposed “Cradle Act” would add to America’s retirement crisis
A Congressional bill known as “The Cradle Act” was recently introduced in Congress proposing to use future Social Security benefits to pay for parental leave earlier in life. The concept under the Act, is that parents could get early benefits during a…
Retirement planning: Your finances aren’t the only thing to plan for
Nearly all retirement planning exercises focus almost entirely on money, how to accumulate it, the amount of savings needed, and how to draw upon it during retirement. But, an equally important consideration is how you wish your retirement to be…
Small nest egg won’t last a lifetime; but a larger Social Security payment will help
In this USA Today financial article by columnist Peter Dunn, a reader questions whether his $80,000 nest egg and small pension can sustain him in retirement. Mr. Dunn offers an evaluation of his predicament and counsels that the reader’s small nest…
Medicare’s “Extra Help” for paying prescription drug costs
The high cost of prescription drugs is being discussed all over the political spectrum these days, but the fact is that prescription drug plans are available to all who are on Medicare. However, those plans – known as Medicare “Part…
“Unretirement” is an option many are taking
“Unretirement” – that is, going back to work after you have retired – is an option that many are finding attractive or necessary these days. In fact, 39% of today’s workers over age 65 have previously retired from the workforce…
Make Social Security part of your overall retirement plan
When it was first enacted, Social Security was a simple thing – you claimed at age 65 and collected until you died. But many changes – actually enhancements – have been made over the years to ensure that your survivors…
When should you claim Social Security?
When to claim Social Security is, of course, a question that everyone approaching age 62 must wrestle with. Some claim simply because “it’s there”, while other are more pensive and evaluate the various options available. Some claim as soon as…