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More Perspectives on Taxation of Retirement INcome
The common belief that your overall tax obligations will drop dramatically in retirement is rapidly evaporating, and an article posted on www.washingtonpost.com helps explain why. Written by personal finance columnist Michelle Singletary, the article examines the impact of taxes on Social Security…
Some Social Security Backgrounders
Social Security is a broad and complex area, no question about that. To help put the overall concept in perspective for you, though, there are several basic factors that, once understood, might be able to help you comprehend the system…
Thinking about retiring at 62? Here’s what that means.
It’s an attractive thought, bailing out at the first opportunity and grabbing your benefits. But while many folks focus only on the short-term benefit of cashing in those benefits, the longer term impact of higher benefits later is frequently overlooked.…
Retirement Taxes: Here’s What to Expect
As The Motley Fool’s Dan Caplinger suggests, many folks look toward retirement as a time when tax burdens are lighter, and more of one’s income can be devoted to personal pleasure. Indeed, that was one of the enticements of the…
Tax Day Thoughts: Social Security Implications of Tax Cuts
Former chief of staff for Congress’ Joint Committee on Taxation. Edward Kleinbard examines the recent tax package crafted by Congress in terms of its long-term implications for programs like Social Security and Medicare, given the federal deficit issue. Kleinbard’s analysis focuses on…
Survey Results: Social Security Plays a Big Role in Retirement Planning
A survey of 1000 seniors, conducted by online student loan refinancing marketplace LendEDU, reports that nearly 7 in 10 seniors consider Social Security “critical” to their retirement planning. In addition, more than half of the survey respondents reported that they have not…
Social Security Claiming – Year-by-Year
In a post to day on www.fool.com, The Motley Fool’s Maurie Backman takes a look at the imlications of filing for Social Security benefits at each year from age 62 to age 70. She includes a chart showing how one determines…
What does the future of Social Security hold for millennials?
Each and every month over 62.1 million people receive Social Security benefits making it this country’s most important social program, although that’s arguable given the importance of Medicare. According to Pew Research Center, 51 percent of millennials surveyed didn’t expect…
How to boost your Social Security benefts
Most retirees rely to a large extend on the Social Security program for money they need to cover basic living expenses. However, if you want to make the most of this program, it’s essential to start planning well before you…
Rebuilding your identity in retirement
As a retiree, you imagined a world of constant joy and leisure. But, in reality, some retirees feel adrift, purposeless, and shaken to the core. Retirees who are accustomed to feeling useful and wanted sometimes find themselves struggling to adjust…