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Preparing single women to fly financially solo in retirement
The divorce rate in the U.S. has steadily declined since 1990, while the rate of divorce among individuals 50 and over has doubled. For those 65 and older, it’s tripled. Becoming single is a stressful and emotional experience and can also…
The maximum 2018 Social Security benefit
In 2017, the average Social Security benefit paid out to a retired worker is about $1,372 per month; however, many Americans who have earned relatively high salaries throughout their careers get much more. The attached article calculates what the maximum…
The Beneficiary Enrollment Notification and Eligibility Simplification Act
According to the Congressional Research Service, 750,000 Medicare beneficiaries got socked with a Medicare Part B late-enrollment penalty in 2014. Confusion about the Medicare enrollment rules is the reason a bipartisan group of legislators is pushing a bill in Congress –…
Auto-IRA savings options
Morningstar Inc., an Independent Investment Research firm, recently published policy paper calling for the creation of a federal retirement savings mandate for workers without access to employer-provided defined contribution plans. Although not a novel idea, this is the first time…
Ways to make sure the lesser-earner gets maximum Social Security benefits
In Lynn Brenner’s column appearing on Newsday’s website, she answers a question on “How to calculate spouse benefit on retirement.” Read her answer here… Notice: The link provided in the text above connects readers to the full content of the referenced article. The URL…
Avoid these common mistakes when filing for Social Security benefits
The rules and claiming strategies for Social Security benefits are complex and confusing that many uniformed and/or overeager retiree have lost money by making the wrong choice. The attached article list some common mistakes to avoid. Read article here… The…
Four options for low-cost retirement plans for entrepreneurs
James B Lockhart III, co-chairman of the Bipartisan Policy Center’s Commission on Retirement Security and Personal Savings and a former deputy commissioner of the Social Security Administration, said during a recent panel discussion: Bridging the Retirement Divide: Reaching Small Business…
Ten states that impose the lowest taxes on retirees
According to Kiplinger’s 2017 analysis of state taxes, these 10 states impose the lowest taxes on retirees. All of them exempt Social Security benefits from state states and most exempt at least a portion of other retirement income. Read article…
Steps you should take before retiring abroad
According to Social Security Administration statistics, the number of Americans retiring abroad grew 17 percent between 2010 and 2015 and now totals 400,000. The attached article list 13 financial steps you should be taken care of in advance of your…
Common post-retirement tradeoffs
Most retirees will encounter at least one unexpected financial scenario and managing health care costs continues to be a big concern for retirees. The attached article list some common post-retirement tradeoffs. Read article here… Notice: The link provided in the text…