retirement
Retirement Thinking: Is A Half-Million Dollars Enough?
To many people, having a half million dollars set aside for retirement sounds like it should be sufficient to ensure a reasonable retirement. But is it? In order to answer that question, there are a number of factors that need…
There’s a clear advantage to claiming Social Security at a certain age.
Are you aware that the age you file for your Social Security benefits matters? You can start receiving your Social Security retirement benefits as early as age 62 but at a reduced amount. However, if you delay taking your benefits…
Social Security comes with its own rules and stipulations
Retirement planning involves coordinating your retirement savings vehicles, such as pensions, annuities, 401(k), IRAs, Thrift Savings Plans, and Social Security. Most individuals who have paid FICA taxes on their wages may qualify for Social Security benefits based on their own…
Americans more scared of running out of money than of dying
Bethan Moorcraft cites a “remarkable” statistic from a recent survey conducted by life insurance giant Allianz Life– 61% of respondents expressed a fear of going broke in retirement. Perhaps worse is that many still are not taking the necessary steps…
Social Security Cuts Coming. Advice is Bulletproof Retirement NOW
The Social Security cuts of 23% across the board coming in 2033 (give or take) is little news to those who follow that news, but it is understandably news to others. Financial experts have advice for those getting ready for…
Is Gen X the broke generation?
In a recent survey of individuals born between 1965 and 1980, Gen Xers found 56 percent of them said they have less than $100,000 saved for retirement, and 22 percent said they have no retirement savings. Almost two-thirds of the…
How is Social Security taxed
If you feel inflation has eroded your Social Security benefits, you are not mistaken, but that is not the only reason. Although the government will regularly adjust many things for inflation, one thing they have not since 1984; is the…
Important milestones to remember while retirement planning
There is no strict retirement age in the United States; however, there is one to begin collecting your Social Security benefits. You can start your Social Security retirement benefits as early as age 62; however, you are entitled to full…
Social Security mistakes you’ll want to avoid
Social Security can be confusing; however, it is a program that addresses many situations. There are high-income workers and low-income workers, early retirees, and late ones. Plus, there are children, spouses, ex-spouses, and widows and widowers to consider. So, it…
Why it is important to have an emergency savings account
A recent study by BlackRock’s Emergency Savings Initiative and the Defined Contribution Institutional Investment Association’s Retirement Research Center found “low-income households with a least $1,000 in emergency savings were half as likely to withdraw money from their workplace retirement savings…