Latest News
Do you know what the Social Security tax is?
What is the Social Security tax? The Social Security tax is the amount of money that gets taken from almost every American worker paycheck to pay for Social Security benefits. You pay a portion of your salary, and your employer…
Deemed filing rules do not apply to survivor benefits
An internal SSA report found that agency representatives gave widows and widowers incorrect guidance 82 percent of the time based on a random sample of claims by surviving spouses who were also entitled to claim their own retirement benefits. According…
The truth behind health care costs in retirement
Most Americans are aware that health care expenses will be significant during retirement, but it can be tough to decipher exact amounts to set aside for medical treatment. According to a 2018 Employee Benefit Research Institute and Greenwald & Associates…
Your side job can give you a better retirement
If you have both wage income from a job and income from a part-time self-employment (Schedule C income), you may be missing out on a unique opportunity to simultaneously save on taxes and accumulate additional savings for retirement. How? The…
Steer clear of these four retirement planning mistakes
Retirement can be a fulfilling time in people’s lives, but it can also be a stressful one. In Maurie Backman’s article, she reviews four retirement planning mistakes you probably don’t even realize you’re making and how to avoid them at…
Property tax deferrals could free up additional retirement income
Many retirees are struggling, amid longer life expectancy, high healthcare costs and low interest rates, to live on their retirement income. Some retirees are turning to property tax deferrals, whereby you put off paying the taxes on your home, are…
Pros and cons of a Roth conversion
You have probably heard about the option to convert your traditional IRAs or retirement plans into a Roth account, but do you know what that entails? The attached article explains when this strategy makes sense to employ. If you think…
The Windfall Elimination Provision
Many people assume the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) were put in place to prevent people from “double dipping.” It may have been one of the reasons, but it’s not the main reason. The attached…
The retirement dilemma still hasn’t been solved
According to a professor of economics at the New School of Social Research, “people who were doing well before the financial crisis recovered faster and recovered more successfully.” However, some individuals are still left picking up the pieces after the…
Don’t make bad choices when it comes to retirement
Too many people make bad choices when it comes to retirement; a handful of decisions can make the difference between saving enough for a long retirement or coming up short. So, how can we make better decisions for retirement planning?…