Latest News
Proving to Social Security That You’re Alive Doesn’t Automatically Fix the Problem
We’ve been reading a lot lately about mix-ups and just plain errors in the updating of Social Security’s master file of deceased beneficiaries. The mistake can be fixed, but it’s not a simple–or quick–process, as explained in an article by Palm Beach…
Income Replacement and The Life Cycle Model
Andrew G. Biggs, resident scholar at the American Enterprise Institute (AEI), takes a look at how retirement income replacement rates are calculated according to the Social Security Administration’s Office of the Chief Actuary (SSA OACT). His analysis points out a bit of…
Spending Habits of Baby Boomers
Baby Boomers still hold most of the wealth in this nation even as they are starting to become outnumbered population-wise by Millennials. This makes Boomers a target for many businesses, and more and more businesses are restructuring, re-branding, and starting…
Female Boomers Have a Harder Time in Retirement
On average, women have a harder time in retirement than men do, and are even doing worse now than they have done historically. Female Baby Boomers are in more debt now than women of the same age in the 1990s, a…
Social Security Administration staff cuts mean longer waits when calling the SSA
While baby boomers are retiring in record numbers, the Social Security Administration has been losing staff and closing offices due to under-funding. Although many services can now be done online, calling the SSA with a complex question could mean you will…
More on Taxation of RMDs in Retirement
The issue of Required Minimum Distribution (RND) taxation continues to draw attention among people planning their retirement financial cash flow. In an article posted on blogs.wsj.com, Jonathan Guyton (principal at Cornerstone Wealth Advisors Inc.) provides some additional insights into the manner…
Attention Future Retirees: Some things to think about!
Entrepreneur Magazine’s website takes a look at changes rapidly taking place in the retirement landscape, and offers suggestions on how to correct some of the more prevalent misconceptions that exist in many folks’ financial plans. Using the Center for Retirement Research…
Financial Stability While Receiving Social Security
Over half of the beneficiaries of Social Security rely on the pay outs as their primary or sole source of income in retirement. This makes the system an important benefit for the majority of Americans; even those that do not…
Understanding the Relationships Between Social Security Benefits and Retirement Savings Plan Distributions
As you approach retirement, and as you focus attention on development of retirement savings plan distributions, it’s a good idea to keep yourself current on the taxation implications that can cause your Social Security benefits to be reduced…indirectly anyway. Matthew Frankel,…
The Importance of a Solid Income Plan for Retirement
Looking ahead to financial needs in your retirement years requires a major investment of time, but it also requires a firm plan for how you will shift from asset accumulation to asset use/distribution, and how you will approach the interim…