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Millennials achieving financial milestones at different times than earlier generations
According to a survey from Comet Financial Intelligence, millennials are still following the same basic timeline regarding the order in which financial accomplishments occur, but are getting to some goals at different times than earlier generations. Read article here… Notice: The…
Americans falling short when it comes to retirement savings
Americans are falling short when it comes to retirement savings and could be losing out on hundreds per year. The median retirement savings of all working-age families, those between 32 and 61 years old, is just $5,000 according to a…
The most important things to you need to know about IRAs
An individual retirement account (IRA) is a way to complement your employer’s savings plan such as 401(k), 403(b) or 457 plan; however, many savers overlook it as a retirement planning option. In a 2017 survey from TIAA, financial services company,…
Is the new retirement age is 70?
Suze Orman is saying “70 is the new retirement age – not a month or year before”. A research team after analyzing 292 different retirement income strategies, identified the best way for most people to withdraw their money in retirement…
Supplemental Security Income (SSI)
Supplemental Security Income (SSI) provides cash assistance to the most vulnerable Americans: low-income aged, blind, or disabled individuals who either aren’t eligible for Social Security or whose benefits are too low to provide a subsistence income. More than 8 million…
Medicare Advantage now accounts for about one-third of Medicare patients
Medicare Advantage health plans ended 2017 with a nearly eight percent increase (21 million enrollees) over the figure from the previous year. UnitedHealth Group, the top Medicare Advantage payer, increased membership by 14 percent to 5.24 million members. Read article…
Putting jobs out of work
At the World Economic Forum at Davos, a panel titled “Putting jobs out of work” refers to a McKinsey estimate that over the next 10 or so years, a third of all workers in Germany and the United States may…
Social Security’s minimum benefit
Social Security provide vital benefits after they retire and plays an important role in keeping older Americans out of poverty. In the rules governing Social Security, you’ll find references to a minimum benefit but before you count on that provision…
Things to consider when you start withdrawing your retirement savings
Withdrawing your retirement money isn’t quite as simple as just take the cash out of the bank. It’s important to look at the big picture and how it may impact your financial life. The article gives you five key things…
The rarest of Social Security rules
In 2015, MassMutual Financial Group administered a 10-question true-false quiz on Social Security and found that just 28 percent received a “passing grade.” However, there are also subtle nuances and rules to Social Security that don’t fall among “the basics.”…