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Is rolling over your 401(k) funds into a new employer’s plan the best option for you?
Individuals who are changing jobs transfer funds directly from their previous employer’s 401(k) into their new employer’s retirement plan; however, that’s not always the best move. Although there is no real blanket answer for every situation, the article looks at…
Social Security’s lump sum death benefit
Are you aware of this little-known Social Security benefit: Lump sum death benefit? The Social Security Administration still makes good on its commitment to fulfill this relatively tiny benefit for certain family members of workers covered by Social Security. Read…
What traditional Medicare does not cover
Traditional Medicare, Medicare Part A and Part B, covers a large portion of your medical expenses; however, there are some pretty significant gaps in coverage. The attached article takes a closer look at what is not covered by traditional Medicare…
Did you forget to take your RMD? Here’s how to fix it
Did you forget to take your required minimum distributions (RMD)? Or did you miscalculate or take it from the wrong type of account? There is a good chance that some retirement account owners will fail to properly take all of…
How the “silver tsunami” is changing the senior housing market
With the rising senior population, sometimes referred to as a “silver tsunami,” several industries as diverse as health care, technology, and real estate are feeling the impact. In the real estate development marketplace, for example, changing expectations around retirement housing mean…
Millions of retirees count on Social Security to pay the bills
Majority of retirees count on Social Security to pay their monthly bills. This shows how important your Social Security benefits are and how they make the difference between paying the bills and struggling financially throughout your retirement. In Maurie Backman’s…
How gig economy workers can jumpstart their retirement savings
According to a recent survey by the online investment firm Betterment, seven in ten full-time gig economy workers say they are unprepared to maintain their current lifestyle in retirement while less than one third are regularly setting aside money for…
Taking a proactive approach to involuntary early retirement can soften the blow
According to Voya Financial about 60 percent of current retirees did not plan to retire when they did. The circumstances that lead to an involuntary early retirement are often hard to predict. You can soften the blow by taking a…
The Social Security myth that won’t go away
We have all heard and read about how the federal government is stealing from Social Security for last 50 years, but there is no truth in it. Both sides of contemporary politicians are guilty of perpetuating this falsehood. The attached…
Employees have other financial issues that get in the way of retirement readiness
According to the 2018 edition of PWC’s Employee Financial Wellness Survey, employees have other financial issues that get in the way of retirement readiness; such as, struggling with debt and supporting adult children and aging parents. The survey also found…