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Yet another “dearth of retirement savings” article
It’s becoming a well-worn theme, but the problem doesn’t seem to be diminishing. In fact, as this article points out, “about half of all baby boomers have less than $100,000 in retirement savings, and nearly one-third of them have less…
Understanding the Tax Implications of Being Self-Employed
When making the decision to join the ranks of the self-employed, it’s critically important ti understand the tax process and the simple fact that the self-employed are required to pay both ends of the Social Security and Medicare tax tab.…
Sen. Brown Speaks Out Against Raising Retirement Age
Speaking with local business and education leaders in Ohio yesterday, Sen. Sherrod Brown (D-Ohio) commented on President Trump’s tax reform efforts, suggesting that raising the rasing the eligibility age for retirement is “just wrong.” Sen. Brown’s remarks covered a number…
An argument for raising the retirement age to 70
Fortune.com reporter Jeff Bukhari takes a look at comments by former Reagan adviser Martin Feldstein suggesting that raising the full retirement age to 70 is a viable part of the future Social Security financial picture. Feldstein’s comments were publiched in the Wall Street…
The logic behind WEP and GPO
There are often misunderstood subjects–the Windfall Elimination Provision and the Government Pension Offset–and the question frequently comes up from those who’ve worked in jobs, or for periods of time, that did not withhold Social Security taxes from their paychecks. Certified financial…
Short-term Care Policies May Offer Alternative for Some
For those who have not made arrangements for long-term care (LTC) via insurance offerings, there may be an alternative that’s worth at least looking into. Although not very well-known, many insurers have a product line that offers coverage for nursing home…
Understanding Social Security’s “Compassionate Allowances” Provision
For anyone dealing with “early onset Alzheimer’s” or other forms of advancing dementia, it’s important to know that Social Security’s disability program provides for expedited review of claims. Mark Harvey, director of information and assistance for the Olympic Area Agency on Aging,…
Waiting until age 70 to file? You’ll be in the slim minority!
According to an article by The Motley Fool’s Sean Williams, a mere 3% of Social Security recipients wait until age 70 (or later) to begin collecting their earned benefits. In fact, 90% file for benefits at or before their Full Retirement…
The “Unsustainable” Growth in National Debt–A Call for Action!
Erskine Bowles, former White House Chief of Staff and author of the Simpson-Bowles proposal to address the federal deficits and escalating national debt, issued a cautionary statement about the future of America’s debt level, noting that if left unchecked, “by 2027…
More tips for your retirement years
The airwaves are full of articles and blogs offering things to think about as you look ahead to retirement. Most if these offerings are helpful, in that they cause one to ponder aspects of their lives they might not otherwise…