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Social Security is no “Ponzi Scheme”
There are plenty of myths and accusations about how Congress has stolen Social Security’s assets or “borrowed” those dollars to fund other Government boondoggles, or that illegal immigration has drained the system from illegals’ collecting benefits, and that these are the reasons…
Could the Trust Fund last longer than now predicted?
While the most recent Trustees’ Report warns that the Social Security Trust Funds will be depleted in 2034 unless Congress acts soon to shore it up, investment firm Morgan Stanley is predicting a different scenario based upon it’s own workforce…
Social Security Inspector General’s Warning About Scams
It seems there is no end to the lengths scammers will go to try to con you. Most recently, Social Security’s Acting Inspector General has issued a warning to the public about a nationwide scam where callers claim to be…
Deadline for Medicare Open Enrollment is today!
Today is the deadline to sign up for this year’s Medicare open enrollment. If you are 65 years old or older, or about to enter that age group, it might be a good time to consider your plan options to…
How the largest “raise” in seven years is not necessarily a reason to celebrate
In October, the Social Security Administration announced the COLA (cost-of-living adjustment) for the upcoming year will be 2.8 percent which represents the highest benefit increase since 2012. However, not everyone is going to see this full increase in benefits. In…
LeanFIRE versus FatFIRE
Do you want to retire by 40? If so, you may want to adopt one of the F.I.R.E. (financial independence strategies retire early) strategies. The attached article outlines the two forms of FIRE strategies and the two factors that go…
Three simple things to win at 401(k) savings
Are you automatically enrolled in your company’s retirement plan? Are you actively involved or are you just sit-back-and-do-nothing type? If you are the sit-back-and-do-nothing type, this article is for you. According to research from Voya Financial, which administers 401(k) plans,…
Nontraditional paths to retirement
The results of a recent study by the Rand Corporation, focused on people in their mid-50s through age 71, only 37 percent of U.S. workers retire from a full-time job and stay retired. The study also found, “in the U.S.,…
Avoiding these four mistakes in retirement
Though retirement is often a rewarding period of life, it can also be a stressful one as well, specially from a financial standpoint. The more careful you are with your money, the less stress you’ll encounter. But, how do you…
Having a solid plan to replace your regular paychecks
According to a recent Gallup poll, 46 percent of those who are not yet retired projected they won’t be financially comfortable when they stop working. Similarly, in the Ameriprise Financial poll, only 21 percent of the retired respondents said they…