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Striving for the ultimate in retirement saving
Majority of people want to save as much as possible for retirement, they want to become the ultimate retirement saver; however, you need to have a lot of extra savings sitting around if you want to max out all the…
The not-so-great side of Social Security
According to the Center on Budget and Policy Priorities, the Social Security program helps to keep over 22 million of the 62.5 million people receiving a monthly payment above the federal poverty line. However, it’s also a program with some…
The Family Savings Act of 2018
The “Family Savings Act of 2018” (H.R. 6757) proposes two IRA changes that are geared towards those IRA owners over age 70 ½. The third proposal is for families which allows penalty-free withdrawals for the birth or adoption of a…
Misinformation about Social Security abounds
Do you know how Social Security’s COLA is calculated? Misinformation about Social Security abounds on how federal government determines Social Security’s the cost-of-living increase. The attached article briefly reviews the formula and corrects some misinformation about it. Read article here……
Younger workers participating in 401(k) plans are using TDFs at a high rate
According to a new joint study from the Investment Company Institute and the Employee Benefit Research Institute found that at year-end 2016, 64 percent of 401(k) participants in their twenties held target-date funds (TDFs) compared with only 45 percent of…
Public sector workers retire no differently than the private sector workers
Even people with pensions, public sector workers, work into their retirement years. Reasons workers may take another job or reduce hours, instead of calling it quits, varies among all workers but ultimately it all comes down to financial security. You…
If You Are Young and Lose a Parent
Social Security is here for young people when a parent passes away. We know that the loss of a parent isn’t just emotionally painful; it can be devastating to a family’s finances. In the same way that Social Security helps…
If you plan to take your benefits early, you need to be aware of these potential consequences
According to the Center for Retirement Research at Boston College, roughly 45 percent of claimants take their Social Security benefits at age 62, with approximately 60 percent claiming between ages 62 and 64. Although there are plenty of valid reason…
Retirement will change your life
You can plan for your retirement, you dream about it but there is no way to tell for sure what retirement will be like until you actually retire. Retirement changes the structure of your days, your friendships and possibly your…
Medicare basics
Medicare can be intimidating with so many options, confusing terminology, and people everywhere telling you something different. So, what do you do? You start with the basics. Click here for the Medicare basics. Notice: The link provided in the text above connects readers…