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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…
Decreasing your medical bills in retirement
According to Fidelity Investments, a couple who retired in 2017 can expect to spend an average of $275,000 for health care costs throughout retirement. This figure is likely to increase in 2018 and continue to rise during the following years;…
How Special Payments After You Retire Affect Your Social Security Benefit
(Source – blog.ssa.gov) After you retire from your job or self-employment, you may get payments for work you did before you started receiving Social Security benefits. We call those “special payments.” Usually, special payments will not affect your Social Security…