seniors
Retirement security has become an issue for many Americans
Americans’ growing concern about their future retirement while trying to deal with the higher living costs and the emergence of AI’s impact on the workforce. According to Thrivent, a financial services firm, almost half of the survey respondents are skeptical…
Even waiting a short time to apply can make a huge difference to your checks.
You can start Social Security as early as 62, but your benefit will be permanently reduced. Waiting until FRA gives you the full amount, and delaying until 70 can significantly increase your monthly payment. Let’s make it clear: there is…
Social Security COLAs are failing retirees
Social Security COLA is calculated by comparing the average Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the third quarter of the current year to the same period in the previous year, with the percentage increase…
You would want to avoid these common misconceptions
Social Security plays a critical role in retirement planning for many Americans. Social Security benefits serve as a stable, guaranteed income source that can be essential for maintaining a basic standard of living. Unfortunately, this important decision, if you get…
Retiring unexpectedly can impact your retirement plans
According to the recent report from TIAA Institute, “Americans are retiring sooner than they expected and most retirees wish they had done a better job saving.” These findings confirm similar findings from two recent reports from the Employee Benefit Research…
New legislation would put caps on retirement balances
New legislation introduced by Senate Finance Committee Ranking Member Ron Wyden (D-Ore.) and House Ways and Means Committee Ranking Member Richard E. Neal (D-Mass.) would require distributions for individuals with very large IRA and defined contribution retirement plan account balances.…
More ways to lower the cost of medical care in retirement
One of the most reported expenses in retirement is the cost of healthcare. Fidelity says a 65-year-old retiring this year can expect to spend an average of $185,500 on health expenses through retirement. However, according to the actuarial and consulting…
Actions needed to reduce improper payment and fraud risks
Each year, the Office of Management and Budget identifies programs considered high priority for improper payments. In 2025, the Department of Veterans Affairs (VA) Community Care program and the Centers for Medicare & Medicaid Services’ (CMS) Medicare Advantage program are…
Conflicting financial factors led to decline retirement savings
Conflicting financial factors have led to a decline in retirement confidence among Americans, according to the latest Schroders US Retirement Survey. Over half of the respondents said they will need $1.2 million to retire comfortably, but their expectations are far…
You want to become an expat
You’re considering becoming an expat; you are not alone. Over 760,000 retirees receive Social Security abroad, a number that has grown sharply in just two years. In 1974, only 10 percent of U.S. citizens expressed interest in moving abroad. By…