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 who will...
When do you want to retire? For a lot of Americans, the answer is just as soon as possible. And it’s no wonder. Only 20% of U.S. workers are passionate about their jobs. 55% don’t like what they do. It’s a means to an end. They just want to...
Social Security, even with all its problems, is unquestionably an important component of retirement income for millions of American retirees. For about half of seniors, Social Security is 50% of their income, and 1 in 4 seniors say it makes up at least 90% of their income.
There are more...
Oh, you’ve seen it. Things that used to be popular fade away as they’re replaced by something newer, shinier, flashier, or more high-tech. Things like the Walkman, Pet Rocks, and Fanny Packs now exist only in the land of extinction, next door to the island of misfit toys.
But a...
Think hard! There must have been something good that came out of your marriage to your ex-spouse, but for the life of you, you can’t think of anything. Social Security may be the answer.
One of the obscure rules of the Social Security system allows you to receive a Social...
By Danielle Howard, CFP in MarketWatch
Danielle takes her plumbing metaphor a bit too far but provides sound advice on intentional money management in retirement. By which she means you need to pay attention to the little stuff, stop the small leaks before you find yourself with a depleted retirement...
“I
can’t wait to get on Medicare!” I’m hearing that more often from people
approaching 65 years old. Since the passage of the Affordable Care Act (ACA) in
2010 health insurance has become anything but affordable. I know people paying
more for their health insurance than they pay for their mortgage. On top...
It’s common knowledge that age 65 is when you enroll in Medicare. Failing to sign up at that time means that when you do enroll, you’ll be hit with late enrollment penalties that increase your Medicare premiums for the rest of your life.
But if you work past 65 and...
It’s
the end of an era, at least for Baby Boomers. Some have already retired; many
more can see the finish line of their working years. For Boomers with highly
appreciated company stock in their 401(k) a major decision is whether to do an
IRA rollover, leave the money in the employer plan,...