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About Social Security’s financial woes
For anyone who reads about current events and also looks to the future, it’s no secret that America’s Social Security program has financial issues which are rapidly coming to a head. The truth is that at its current course and…
Social Security demographics: Who collects benefits?
With nearly 62 million Americans receiving Social Security benefits, you might be interested to know how that breaks down in terms of number of retirees, how many receive spousal benefits, disability benefits, and dependent child benefits. The answers are all…
Watch out for income taxes after retirement
Although many people only worry about income taxes once a year when they need to file, a wiser person will be conscious all year about the tax implications of any financial moves they make. Especially in retirement when RMD’s (required…
Don’t be afraid to retire. It can be wonderful!
Those approaching retirement can conjure up all kinds of emotions, ranging from joy and happy anticipation to fear and anxiety over not having that work-life to govern their days. In this article by Mike Causey at Federal News Radio, he…
Making your Social Security check bigger
So who wouldn’t want a bigger Social Security check? The answer, of course, is no one. But why then do so many people claim their benefits in such a way as to get less than they could? While sometimes claiming…
Make sure you’re financially ready before deciding to retire
Once you make the decision to step across the threshold into your so called golden years, you’ll find it pretty difficult to go back, so it’s crucial that you make sure you’ll be able to live comfortably. Living comfortably means…
Shedding light on Medicare’s mysteries
Considering that Medicare covers nearly every American senior citizen over the age of 65, it’s surprising how few people actually know how the program works, what it does and doesn’t cover, the difference between Medicare and Medicaid, and a variety…
What was learned from the Equifax data breach?
While certainly only one of many hacks which compromised consumer data, the Equifax breach was monumental in terms of the number of consumers affected and the amount of personal data stolen. So what, if anything, has been learned from this…
Managing taxation of your Social Security benefits
Many seniors are surprised to find that their Social Security benefits may be taxable if their retirement income exceeds certain thresholds set by the Internal Revenue Service. The thresholds – $25,000 for single filers and $32,000 for married filing jointly…
Don’t obsess on investment returns during retirement
When it comes to financial planning for your retirement, many advisors will discuss the returns you should be expecting on your investments. But focusing only on investment returns obscures the true lurking hidden risks which can upset your retirement comfort and…