Retirement Planning

Social Security has been around since 1935, and even after all those years, there is still a lot of confusion about the Social Security Spousal benefit. What is it? It’s an opportunity to receive a Social Security check based on their spouse’s work record. It’s beneficial for people who have very little work history of their own or if they’re [...]

Inflation, if it lasts long enough and hurts deeply enough, will make people rethink priorities. That seems to be the conclusion of a new Bank of America Report called Tracking the Confidence of Plan Participants which outlines current trends of workers who are enrolled in their employer’s 401(k) plan.   Across all age categories, the average contribution rate is 6.4%. [...]

You’re planning for retirement. You’ve got visions of what you want it to be—the traveling you’ll do, playing with that hobby you’ve never had time for, volunteering with a cause that’s dear to your heart. You’ve got a comprehensive plan that accounts for retirement income, taxes, and even things on your bucket list. But have you planned for the one [...]

Isn’t it what we all plan for? At some point in your life, you’ll stop working and enter “The Retirement Zone.” It will require income that may come from Social Security, retirement accounts, annuities, investments, or any number of sources. Yes, being a successful retiree requires planning. But you have to know what’s good planning and what are just myths. [...]

It’s just human nature. When we buy something, we want to pay the lowest price and get the best deal. That same principle applies to America’s seniors when they turn 65 and have to choose a Medicare Part D Prescription drug plan. The problem, though, is that choosing the lowest premium Part D plan may actually be more expensive in [...]

It’s called a “My Social Security” account. It’s often thought of as something for people getting Social Security benefits. In reality, there are positives for anyone who’s working and paying Social Security taxes.   Protect Your Social Security from Identity Thieves Once you set up a “My Social Security” account, you’re protected. There can never be more than one account [...]

I can, I will, I can’t, I won’t. Those are all responses we’ve heard in the past two years about deciding to retire. The response you give or the response you get is directly related to the U.S. economy.   Before COVID, American workers age 55 and above were retiring at a rate of approximately one million per year. But [...]

Social Security is usually thought of in terms of an individual’s retirement benefit. But it’s equally important to understand the benefits of Social Security for married couples. Whether you’re a Baby Boomer spouse with limited work history because you stayed home to raise the kids, or a married couple who discovered during COVID that a happy family doesn’t require two [...]

So, you’re almost eligible for Medicare. For many who have struggled with health insurance since Congress passed Obamacare in 2010, going on Medicare is a step up from the expensive, high deductible, limited option plans available to them. But Medicare can be problematic too if you don’t know what to look for. Here are 9 of the most common Medicare [...]