Almost one-quarter of the 65 million people receiving Social Security rely on it for 90% of their retirement income. They’re locked in and there’s nothing they can do to get a bigger check except cross their fingers and hope for a cost-of-living raise every year. No one wants to be...
With the end of the year in sight, lots of plans are being made—what gifts to buy, what the menu will be, and how to shed the extra weight that will inevitably be acquired. But part of your holiday planning needs to include a year-end investment checkup...
“So, who do I want to get my IRA? My spouse? My kids? But I don’t want to leave out the grandkids. Oh, I’ll just fill it in later.” You’d be surprised how often that mental conversation goes on when someone is looking at the beneficiary section of...
“I can’t wait to retire!” Have those words ever come out of your mouth? Oh, the thought of divorcing that demanding, unreasonable boss; doing what you want when you want; burning all the bridges you never intend to cross again. It’s the payoff for all those years of hard work.
At the beginning of every year, Americans receiving benefits from Social Security and Medicare find out what changes have taken place and what it means to their bottom line. This year is no exception. For 2019, Social Security recipients get the biggest annual raise they’ve had for quite a while. Some...
Just the thought of retirement is fraught with what-ifs. What if I live 30 or 40 years after I retire? What if I run out of money? What if I need long term care? But the retirement issue almost no one talks about is Senior depression. It’s usually underdiagnosed,...
It’s shocking to say, but a large percentage of future retirees are woefully misinformed about Social Security—how they claim benefits, when they claim benefits, and how much they’ll receive—just to name a few Social Security topics. Financial author Mary Beth Franklin just reviewed the latest annual survey of people retired and those...
If you have an IRA then you know that at age 70 ½ the government forces you to begin taking distributions so they can tax money that has, up to now, escaped their clutches. Most people use the Uniform Lifetime Table to figure their Required Minimum Distribution. Find your age,...
Nobody has a crystal ball, but it’s certain that the American landscape is changing and the change is driven by the Millennial generation. Millennials are changing attitudes, workplaces, work ethics, what’s acceptable and what’s not. They’re driven more by technology than relationship. They see things from a...
Among America’s older population there is a growing concern about the state of their retirement and many are choosing to stay in the workforce much longer. In a previous article I listed concerns of older workers about whether they will ever be able to retire; concerns that...