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Can delaying retirement really pay off?
According to a recent survey by the Transamerica Center for Retirement Studies, more than half of workers expect to work beyond age 65 and one in eight say they don’t plan to retire at all. However, experts say planning to…
5 reasons companies are bringing back retired workers
(By Leo Vartorella for Becker’s Hospital Review) As the pool of workers has shrunk with declining unemployment rates, companies are turning to retired employees to help with staffing, according to The New York Times. Continue reading article here… Notice: The link provided…
Planning for healthcare expenses in retirement
While Medicare does pay for the bulk of hospital related expenses, there can be thousands of dollars in out-of-pocket healthcare expenses. Retirees on average will face $4,300 in annual out-of-pocket healthcare expenses according to a report by the Center for…
Secure Choice – Illinois state-sponsored retirement program
Illinois is the second state in the U.S. to enact a program that will automatically deduct money from paychecks of about 1.2 million Illinois residents for retirement savings. By November of 2019, all companies with 25 or more workers must…
If you are in your 50’s, its crunch time for saving for retirement
If you are in your 50’s and you set a retirement savings target but have been neglecting it, you need to dust it off for a careful review. According to National Association of Personal Financial Advisors, you should be looking…
Be aware of these three ways you could reduce your Social Security benefit
The vital source of financial security in retirement for millions of Americans is Social Security; however, without knowing it Americans could lose some of their benefits. In the attached article by Matthew Frankel, he reviews three important benefit-reducing things Americans should…
One financial writer says age 64 may make most sense to start benefits
The Social Security Administration explains that, “If you live to the average life expectancy for someone your age, you will receive about the same amount in lifetime benefits no matter whether you choose to start receiving benefits at age 62,…
Just where does retirement income come from?
Social Security is the biggest source of income for retired Americans with the average monthly benefit per retired worker (not household) at just under $17,000 a year, or $1,412 per month. Social Security and income from private and government pensions provide about 50% of the…
Seniors stand to benefit with legislation moving through a key House committee
The House Ways and Means Committee is the origin in Congress of all bills related to taxes. In addition bills that touch Social Security and Medicare begin with hearings here. This past week, the Committee approved a package of 11…
Couples need better communication on Social Security & retirement
A Fidelity couples retirement study finds a stunning failure of communication between spouses when it comes to retirement. Despite the fact that anyone can fund out his or her future benefits on Social Security’s website, 60 percent of couples and 49 percent of…