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Three out of Four People Failed a Financial Literacy Quiz
In a recent survey of Americans aged 60 to 75, almost 3 out of 4 people failed to pass a quiz measuring financial literacy, and only 5 percent managed a grade of 80 percent or better. Read article here… Notice: The…
Social Security Benefits are Taxable
At the federal level, Social Security benefits are indeed taxable. With the 1983 Amendments, individuals earning more than $25,000 annually and couples filing jointly with more than $32,000 in annual income are subject to having at least 50 percent of…
Rather Take a Vacation than Save for Retirement?
According to a recent study by Country Financial, 51 percent of workers admit they do not factor retirement into their long-term financial goals and are more concerned with taking vacations. Read article here… Notice: The link provided in the text above connects readers…
Retirement Options for Freelancers
In a poll conducted by Greenberg Quinlan Rosner Research in 2016, at least 40 percent of the participating freelancers did not have a formal retirement plan. Read article here… Notice: The link provided in the text above connects readers to the full…
Ex-Spouse and Marrying Again
Are you collecting social security from a high-earning ex, and are you thinking of re-marrying but afraid that you will forfeit any retirement benefit? There is a little known Social Security rule you should be aware of. Read article here……
Do You Know the Difference Between HSAs and FSAs?
Do you know the differences between HSAs and FSAs? Each has its pros and cons and the rules governing them differ. Read article here… Notice: The link provided in the text above connects readers to the full content of the referenced article. The URL…
Can You Contribute to Both A Simplified Employee Pension and Roth IRA: Yes
If you are self-employed and want to contribute to a Simplified Employee Pension (SEP) or a solo 401(k), yes, you can also contribute to a Roth IRA. Read article here… Notice: The link provided in the text above connects readers to the…
Comparing your retirement age options
When evaluating at which age to start your retirement you may want to look at how your lifestyle might be affected by retiring at, say, age 65 instead of waiting until age 66 as planned. In this article appearing in…
Is Social Security going bankrupt?
There’s so much hyperbole today about Social Security’s financial status, including some who say it’s going “bankrupt”. Although there are some significant challenges with the program’s financial status, when it comes time for you to retire it will still be…
Regret taking Social Security early? Here’s a mulligan that may work for you
It’s pretty well known that Baby Boomers are retiring in record numbers, and many have chosen to start their retirement benefits early. But that choice to apply early means that they’ll see a significant reduction in their benefit amount, compared…