Latest News
Does the “mortality gap” mean low income people collect less Social Security?
It has been chronicled in many studies that higher income people tend to live longer than lower income people. Now a study by the Center for Retirement Research at Boston College has concluded that the mortality gap between lower and…
Inherited IRAs
Americans have more than $28 trillion in assets in retirement accounts including $9 trillion in IRAs. It is not uncommon for a retiree’s IRA to be their largest asset apart from the family home; making it highly likely that at…
Don’t let high medical costs destroy your retirement
In a recently published estimate of retiree healthcare costs by Fidelity, a 65-year-old-couple would need $280,000 for all their medical expense during retirement. As women tend to live longer, a 65-year-old female would need around $147,000 compared with a senior…
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…