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Surprise! Transportation is the second largest cost in retirement
For most older Americans, driving is not a choice, it is a necessity and is often taken for granted. According to the Bureau of Labor Statistics, transportation is the second largest cost in retirement with the with an average 65-year…
Social Security 2100 Act introduced
On January 30, 2019, Representative John Larson (D-CT), Chair of the Social Security Subcommittee of the House Ways and Means Committee, announced the introduction of the Social Security 2100 Act. The bill has over 200 original cosponsors would increase Social…
Catching up on your retirement savings
Many Americans dream of retiring and enjoying their golden years to the fullest; however, inadequate savings puts them at an increased risk of falling into or near poverty by the time their golden years roll around. According to Schwartz Center…
Today’s simplified variable annuities
Over the last few years variable annuities became more complex and expensive, but now some insurers are offering products that have fewer bells and whistles, are easier to understand and have lower fees. Variable annuities were originally introduced as a…
CBO: Medicare, Social Security spending topped $1.3T in 2018
The Congressional Budget Office estimated spending on Medicare and Social Security reached $1.3 trillion in 2018, according to the agency’s Budget and Economic Outlook: 2019 to 2029. Three things to know: Click here to continue reading article Notice: The link provided in…
If you’re contributing to a HSA, Medicare enrollment can be a liability
Are you turning age 65? Should you enroll in Medicare? Can you still contribute to your Health Savings Account? First, Medicare enrollment at age 65 is only necessary if you do not have qualifying health insurance through an employer. Second,…
Retiring early could be a huge mistake
According to a recent survey from TD Ameritrade, half of Americans say they want to retire by age 60. As tempting as it is to retire as early as possible, it’s often not the wisest route. The attached article list…
Retirement is the next step, not the end of the road
Retirement at its conception was simply industry’s way of forcing people out of the workforce when they reached was considered the end of their usefulness but today, retirement has a much more pleasant connotation. In the attached article, the author…
Consolidating your retirement accounts, just be sure to follow the rules
A typical individual who has worked for 30 years likely has switched jobs six or seven times and may have just as many former employer retirement plans. According to Millennium Trust Co. 25 million participants in workplace plans separated from…
New App Displays What Original Medicare Covers
Today, the Centers for Medicare & Medicaid Services (CMS) launched a new app that gives consumers a modernized Medicare experience with direct access on a mobile device to some of the most-used content on Medicare.gov. click here to read press…