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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…
Pre-retirees acknowledge Social Security & pensions may not be enough
Amanda Umpierrez, citing new research on alternative income options, writes that workers nearing retirement are increasingly skeptical that Social Security and pensions will be enough to keep them secure. Many are looking to add savings from 401(k) funds, IRAs, and annuities…
Student Loan Debt & Retirement: A Tough Combo
As if coping with the normal expenses of daily are not enough, Katie Brockman reports that about one-third of baby boomers are not saving any significant income toward retirement due to student loan debt. But it should not be an either/or choice. Since…
Age 60 without retirement savings? Do 3 things now
The good news is Americans in their 60s have a median retirement savings balance of $172,000. But enough older workers have little or zero in their 401k or IRA accounts. Maurie Backman advises these folks take three steps now: 1.) Start maxing out your…
Saving enough for retirement? Find out sooner rather than later.
It’s difficult to save for retirement, and that’s particularly true the further away retirement is. Reg flag warning. You may not be saving enough for retirement if any of the following three are true: 1.) You’re not contributing enough to your…
Social Security & The Marshmallow Test
It’s a classic. Do you eat a marshmallow now or wait for a guaranteed, bigger one later? So it is also with the decision of when to take Social Security benefits. Indeed, consuming now means having less money later. Read the…
What to Fear Financially this Halloween Season
It’s October and thus a time to be afraid of ghosts and goblins, but when it comes to finances, writer Russ Wiles of The Arizona Republic puts in perspective what we should fear versus what is overblown. Wiles discusses stock…
The Myth of “Greedy Geezers” & Social Security
The line goes something like this: The old are sucking all the blood from Social Security, leaving the young with nothing to count on when they will retire.” But it’s not so according to Teresa Ghilarducci writing in Forbes Magazine. …