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The Plight of Younger Folks in Retirement Planning
From Social Security solvency concerns to the ever-present difficulties in saving for the future, planning for eventual retirement appears to be a growing worry for younger workers. In fact, as Maurie Backman points out in an article posted on wcfcourier.com, “67% of millennials…
Determining Financial Needs in Retirement: It Goes Beyond Social Security
Figuring out how much income you’ll need for a satisfactory lifestyle is not a simple thing, and the closer one gets to their intended retirement date, the more daunting the task appears.Certified Financial Planner and Aiken Standard columnist Greg Roberts provides…
Your “Primary Insurance Amount”; the basis of your benefit
Though most people never dig deeper than the benefit amount they will receive at any given age, the fact is that your Social Security benefit is based upon one number which is the foundation for computing your payment, regardless of which…
A primer on 401(k)’s: All you need to know
The 401(k) has become one of the most valuable retirement savings tools available. Employer-sponsored 401(k) plans are a great vehicle for workers to build their retirement nest egg, and do so with pre-tax money which will reduced their current income…
The basics about Medicare
Medicare is America’s healthcare program for seniors which will eventually cover nearly 100% of those in retirement. Despite that sobering fact, surprisingly little is known by most of those who will depend upon the program for by far the majority…
Social Security advice from a Financial Planner
Younger workers – today’s “millennials” – are skeptical that Social Security will even be there for them when the time comes, a view probably fueled by the latest report from Social Security’s Trustees which sets 2034 as the date the…
Social Security in the future – what will it look like?
Social Security is arguably the most important retirement program in America, especially considering that nearly 62 million beneficiaries rely on the program every month to make ends meet. But with financial distress rapidly approaching in the form of using and…
Retirement savings? For many, the amount is near nothing
Traditional pension plans have pretty much disappeared, and Social Security was never intended to provide more than 40% of your retirement income, leaving savings and investments as an increasingly critical component of anyone’s retirement plan. Trouble is, many who are…
Don’t panic; Social Security will be fixed
In this guest editorial from The (Plattsburgh, NY) Press-Republican, appearing in today’s (PA) Tribune-Democrat, the author reviews the future financial issues faced by Social Security. This is done against the background of the program’s history as well as the forecasts contained…
Clarifying the “Gig” Economy and its Impact on Workforce Statistics
Although the number of people engaged in self-employment continues to rise, the long-range implications of this trend may not be correctly assessed in many popular media accounts. Lawrence Mishel, Distinguished Fellow at the Economic Policy Institute points out in a post today…