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Understanding the Retirement Savings Contributions Credit (Saver’s Credit)
Kiplinger contributing editor Kimberly Lankford offers a briefing on the IRS Retirement Savings Contributions Credit (Saver’s Credit), a tax provision designed to provide incentives for certain individuals to add to their financial savings. Her post highlights the rules and the mannder in which…
Social Security’s Future: The Millennial Perspective
Call them Generation Y, Gen Y, or “echo Boomers,” but know one thing: this group of future retirees called Millennials appears to be growing worried about the future of Social Security. Millennials, generally considered to be those born from the…
Giving Thanks for the Watchdogs
On this Thanksgiving Day, let’s add a note of thanks for those who keep track of the never-ending stream of scams and frauds coming at us all the time. IN this regard, the editorial staff at petoskeynews.com recaps a comments from the…
Pace of Retirements Continuing to Accelerate
You’ve most likely seen the oft-repeated statistic that 10,000 “Baby Boomers” turn 65 each day (unfortunately, by the way, that specific statistic perpetuates the myth that age 65 is the “normal” retirement age!) Well, that 10,000 number is growing. In…
Thoughts on the “When to File” Question
Leaving the workforce before one’s Social Security full retirement age appears to be the most prevalent reason for claiming Social Security benefits early, according to a study reported in the Journal of Financial Planning. In an article posted by Marlene Satter on…
Social Security Decisions Can be a Source of Headaches
In their 2017 Brain on Finance Study, analysts from Northwestern Mutual note that 80% of Americans “are financially anxious…and that’s affecting their physical well-being.” From the extreme amount of concentration needed to make financial decisions to the corresponding stress that a do-it-yourself…
When Giving Thanks, Don’t Overlook Your 401k Plan
For anyone fortunate (and wise enough) to take advantage of the 401k plan offered by an employer, there is ample reason to give thanks for the benefit that these plans bring to their retirement planing processes. Forbes contributor Rick Unser highlights…
How Social Security Serves American Indians and Alaska Natives
(Source: Social Security Administration) Social Security honors and celebrates the rich culture and heritage of American Indians and Alaska Natives. We remember our commitment to be there with you throughout life’s journey during National Native American Heritage Month. Continue reading → …
Does Old Age Mean Hardship for You?
A Wells Fargo online survey of over 3500 working and retired adults conducted earlier this month revealed that 40% of its respondents felt that a life span exceeding 85 years brought with it a financial hardship. But there’s a solution,…
Once Again…Social Security Wasn’t Raided!
As The Motley Fool’s Sean Wiilams points out in a post on their website, there is no credence to the persistent myth that politicians have “stolen” money from Social Security’s Trust Fund reserves, making them responsible for the program’s looming…