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States and Congress are working on reshaping retirement planning
According to recent data from the Indexed Annuity Leadership Council (IALC), found although 57 percent of Americans surveyed are excited about retirement; however, many are unprepared to turn their dream golden years into reality. Similarly, the Pew Research Center found…
Are you apprehensive about retirement?
Often, people are a bit apprehensive about retirement. While some people might have been saving and planning for decades for retirement, others might not have given much thought to it. Experts say the transition should get more than just a…
Updating the Social Security number system
At a recent panel on updating the Social Security Number systems, experts in cybersecurity agree that most fixes suggested are either technologically untested, expensive to implement or both. They say the core problem with the national identity system that has…
Deciding when to take Social Security
A sizable amount of Social Security beneficiaries depend on their Social Security benefit for 90 percent or more of their retirement income. So, that is why it’s important for pre-retirees to figure the best time to take Social Security. Deciding when to take…
The budget deficit & Social Security
Mark Miller wades into the controversial debate about Social Security, Medicare, and Medicaid and the budget deficit. These three programs, along with Defense, are the biggest in the entire federal budget. So, naturally “deficit hawks” talk about needing to do…
Keep portfolio intact by taking Social Security early
Conventional wisdom, at least as measured by what most experts say in financial articles, suggests delaying Social Security benefits as long as possible. After all, delaying from full retirement age until age 70 yields an 8% annual benefit for waiting. But…
The young are spending. But are they saving too?
With Social Security replacing just 40 percent of pre-retirement income and pensions going the way of the dodo bird, one would assume young people to be hoarding their pennies to make up the difference to have a secure retirement. But that…
Social Security & Robocallers — What you need to know
Octavio Blanco writing in Consumer Reports addresses an alarming scam in this piece. Robocallers are using actual Social Security Administration phone numbers in order to steal important personal information from unsuspecting callers. The Federal Trade Commission says recipients of a call should hang up and…
Social Security just a piece of retirement. Learn about 401k plans here
Social Security income is an important monthly benefit to nearly 63 million people each month. But the program only replaces about 40 percent of pre-retirement income, and this varies depending on factors such as lifetime income, number of years in…
Social Security mostly, but not exclusively, for retirees
Sean Williams of The Motley Fool provides a plethora of data as to who actually receives Social Security benefits. If you guessed retired workers (defined as 62 and older) are the most numerous beneficiaries, then you are correct. Retirees are almost…