Social Security, although originally intended to be a supplement to Americans’ retirement income, has become a major source for many. The Center on Budget and Policy Priorities found that half of senior citizens get 50% of their income from Social Security and that 1 in 4 seniors receive 90%...
For adults, planning for retirement is a life-long pursuit. We have dreams of a wonderful lifestyle after saying goodbye to our careers. We never expect to be dependent on our kids, or the government or anyone else. This is what we’ve worked for. Unfortunately, almost half of retirees discover...
Planning for retirement. We spend most of our working career preparing for it, saving for it, covering every contingency. When you finally wave goodbye to the company, you’re ready for all that planning to take over. But does your planning take into account the taxes you’ll have to pay...
Planning, planning, it’s all about planning when your goal is retirement. When you hang up your career, you don’t want any surprises, or at least as few as possible. In the 21st century, retirement is completely different than it’s ever been.
As a kid, I saw people retire after working...
The IRA is a great retirement savings vehicle; money grows on a tax-deferred basis and that’s a good thing. Eventually, though, you have to pay the IRS piper when you choose to withdraw funds for retirement or when you’re forced to withdraw the Required Minimum Distribution at age 72.
Let’s...
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If you turn 60 years old in 2020, your Social Security benefit may get hit with a double-whammy. People turning 60 this year are at the tail end of the Baby Boom generation, and the first Americans ever required to wait until age 67 to receive full Social Security...