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A primer on Social Security
Social Security is unquestionably a complex topic and also a critical one for the nearly 63 million Americans who rely on it. Yet, the majority of people either already on Social Security or who contemplate applying soon don’t understand even…
Deciding when to claim Social Security
When to claim your Social Security benefit is not something to be taken lightly, and certainly not something you should do just because “it’s there”. Blindly claiming your benefits can result in some fairly significant consequences, while doing a little research…
Will your State, or the IRS, tax your Social Security?
If you’re in that stage of life when you’re planning to claim your Social Security benefits, there’s something you may not have taken into consideration – will either your State of residence or the Federal government take back some of…
Your imagination could be a key to boosting your retirement savings
Your imagination could be a key to boosting your retirement savings. Research conducted by investment manager Capital Group, found workers could be motivated to save more if they picture their future self, rather than only focusing on the dollars and…
Preparing for a successful retirement
You have been preparing for retirement for years, but how do you know that you’re really ready both financially and mentally? The attached article suggests eight steps to take to ensure you’re prepared for a successful retirement transition. Read article…
While Social Security is not in danger of going away completely, but…
Roughly 50 percent of workers aged 30 to 64 worried about their ability to collect Social Security benefits in the future. However, despite the rumors, Social Security is by no means on the verge of going broke. The program is…
Which COLA inflation adjustment is the best
In response to a request from two Republicans in Congress, the Government Accountability Office studied hypothetical COLA levels over the 30 years from 2003 to 2033, using calculations liked to the Chained Consumer Price Index for All Urban Consumers (CPI-U),…
CMS proposes Medicare Advantage and Part D payment and policy updates to maximize competition and coverage
Today, the Centers for Medicare & Medicaid Services (CMS) released proposed changes that will take significant steps in continuing the agency’s efforts to maximize competition among Medicare Advantage and Part D plans. These proposals will increase plan choices and benefits…
Is early retirement a bad idea?
If you are one of the half a million individuals that have joined the FIRE (Financial Independence, Retire Early) bulletin boards on Reddit, it’s fun to dream and no doubt it works for some but reality you’re probably not going…
Roth 401(k) accounts can help you save on taxes
A recent poll by Callan, an investment consultant, found 85 percent of employers offer Roth 401(k) accounts, which allow you to save after-tax dollars and take tax-free withdrawals in retirement. Provided you meet a set of conditions, you can stash…