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The “Motherhood Penalty” and its impact on Social Security benefits
A Reuters post edited by Lauren Young and Steve Orlofsky takes a look at the financial factors associated with motherhood and the impact on future retirement benefits. The article expands on the premise “The price women pay for raising a family…
A Frightening Look at Taxation
Daily Reckoning Managing Editor Brian Maher provides a sobering look at the U.S. economy, as seen through the filter of taxation. And it isn’t pretty, especially given the amount of tax revenue need to support programs like Social Security and Medicare.…
Making Your Retirement Nest Egg Last
The Employee Benefit Research Research Institute (EBRI) recently reported some positive news for those concerned about outliving their financial resources. Specifically, their conclusion is that statistically, seniors are drawing down their financial reserves at a slower pace than previously projected, a…
The Importance of Coordinating Bills with Your Benefits
For those heavily dependent on Social Security to cover their monthly living costs (and that’s more than a third of all beneficiaries), it is critical to take steps to coordinate due dates with the arrival of that monthly benefit payment.…
Building a Portfolio for Today’s Retirement
As most folks are aware, today’s (and tomorrow’s) retirement world differs markedly from the “old days,” when a pension and Social Security made is smooth sailing. So, what can one do to adapt to the new world–the one where the…
Scammers’ Focus Shifts to Disability Recipients
It appears that the fraudsters, scammers, and all-around bad guys have adopted new targets–vulnerable Social Security Disability Insurance (SSDI) recipients. In a letter to Law Firm Newswire, Brandon, Florida’s David W. Magann, P.A. explains how the new scam works. Check out…
A Quick Review of 10 Common Scams Targeting Retirees
U.S. News & World Report contributor Rachel Hartman, in a post today on money.usnews.com, takes a look at 10 financial scams designed to separate seniors from their hard-earned financial resources. Much has been written about all of these rip-offs and cons, but it’s…
Notice of rescission of Social Security Rulings.
(Source: Federal Register) In accordance with 20 CFR 402.35(b)(1), the Acting Commissioner of Social Security gives notice of the rescission of Social Security Rulings (SSR): SSR 67-28; SSR 68-13; SSR 68-36; SSR 68-37; SSR 68-52; SSR 68-78; SSR 70-23c; SSR 72-27;…
Gallup: Financial Concerns Continuing to Plague Future Retirees
Nearly half of Americans tracked in Gallup’s random polling of over a thousand adults aged 18 and older expressed concern that “they won’t be financially comfortable when they retire.” Compared to a similar polling just after the turn of the millennium,…
Re-examining the 4% drawdown rule of thumb
It’s been around a long, long time, this assumption that CNBC once defined as “withdraw 4 percent a year, and you have excellent odds of having enough money for 30 golden years.” But now, with all that’s happened and happening…