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Spotlight on Widow/Widower Benefits: Understanding the Math
The recent Social Security Administration’s inspector general report highlighting the lack of correct direction provided to surviving spouses has received quite a bit of media attention over the past few weeks. With so much money on the table, it’s important that…
Reasons Why DRCs Are Unattractive to Many
According to this post by Sean Williams of the Motley Fool, less than a tenth of retirees elect to take advantage of the Social Security’s Delayed Retirement Credit provision. It’s a guaranteed 8% return on your benefit from fill retiremenht…
Gray Divorce: Some things to think about.
With the rate of divorce among folks 65 and over tripling since the 1990s, the phenomenon of “:gray divorce” has worked its way into everyday life. The divorce itself is one thing, and can it can be amiable or not,…
Taxation of Social Security Benefits
It’s a shock to some, but your Social Security benefits might well be subject to federal income tax. In fact, the better you’ve planned financially for your retirement. the more likely your benefits will be taxed. Time.com’s Martha C. White explains…
Social Security Myths and Misunderstandings
It’s been said that as you age in to Social Security eligibility, you automatically have two experts to guide you: your neighbor on the left, and your neighbor on the right. If you don’t have any neighbors, you’re probably better…
Is having $1 million in savings ideal for retirement?
Is having $1 million in savings ideal for retirement? For years, financial experts tell us to aim for $1 million figure but some say maybe less will suffice. However, most older Americans simply haven’t saved enough to live comfortably once…
Exceptions to the RMD rule
As we near the April 1st deadline for taking those first RMDs, some of you might be able to delay them. The RMD rules cover all qualified retirement plans, including traditional IRAs and employer-sponsored plans. In the attached article written…
Can tapping into your IRAs early boost your Social Security check?
A new study suggests Social Security payments can be boosted by early withdrawals from workplace automatic individual accounts (auto-IRAs). The Pew Charitable Trust said in a recent report by starting Auto-IRA payments between 62 and 66, people can delay collecting…
Financial planning for special needs participants and caregivers
Voya Financial, Inc. has enhanced Voya’s myOrgangeMoney online with new financial planning features to support people with special needs and their caregivers. With the latest addition to the company’s suite of educational retirement-planning tools and resources, plan participants who are…
Planning for retirement contentment
In a poll of recent retirees by Nationwide Retirement Institute, it was noted that 28 percent of the participants reported life worse in retirement than when they were working. This collaborates several other surveys that found roughly a quarter of retirees say life…