seniors
Baby Boomers lack of retirement savings
Baby boomers have changed the face of the U.S. population for more than 70 years and continue to do so as more enter their senior years. According to a recent study, over half of boomers have little saved for retirement…
Is the 4% rule even relevant today?
In 1994, William Bengen introduced the idea of the 4% rule as a common rule of thumb in retirement planning to help you avoid running out of money in retirement. But times have changed, and so have retirement plans. However,…
Why are more individuals starting Social Security
In April, more than 72 million Americans collected Social Security benefits, according to the Social Security Administration’s monthly statistical snapshot, an increase of 195,000 from March. Why the increase? Is it because more individuals reached 65 and older, or is…
Retirement benefits of a HSA
Health Savings Accounts (HSAs) were established as part of the Medicare Prescription Drug, Improvement, and Modernization Act, signed into law by President George W. Bush on December 8, 2003, effective January 1, 2004. In the twenty years since the creation…
Help boost the amount of your monthly check
A recent Gallup poll found that 59 percent of retirees said their monthly Social Security check is their leading source of income. So, achieving a higher monthly benefit is essential to many seniors. But what if you were many Americans…
The two problems with COLA
The Social Security Administration calculates the COLA by comparing the average of the CPI-W for July, August, and September of the previous year with the average for the same three-month period in the current year. The percentage change is the…
Repealing WEP and GPO…More Legislative Push
In a post on asppa-net.org, the American Society of Pension Professionals & Actuaries provides a recap of actions in two states–Alaska and Louisiana–advocating for repeal of Social Security’s Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) based on the…
Can Annuities help with your Social Security strategy?
There are a myriad of options to consider when deciding to claim Social Security benefits. Eligibility spans eight years, from age 62 to 70. If you want to retire early and delay taking Social Security, how do you fill in…
Members of American Federation of Teachers attend hearing for HR 82 ( Social Security Fairness Act)
The Windfall Eilimination Provision (WEP) and Government Pension Offset (GPO) affect the Social Security benefits of some government workers who are exempt from Social Security Tax. This legislation was meant to help offset the fact that these workers are treated…
Should you delay taking Social Security benefits until 70?
A person who is eligible for Social Security can claim benefits anytime between 62 and 70. If you take it early your benefit will be reduced. If you wait until 70 you will receive the maximum payment. There is a…