Retirement
As many as 9,224 widows and widowers aged 70 and up have been underpaid beneficiary benefits for years — at a cost to them of nearly $132 million in lost benefits, according to new report. The report from the Inspector General of the Social Security Administration (SSA) raises concern that many retirees fail to understand […]
So, when one thinks of a place to live out retirement, what state comes to mind? Florida. The state of Florida is the common answer to living out retirement if popular culture, or real-life surveyed preferences, are to be believed. In fact, most people choose Florida as their preferred place to retire out of all […]
The retirement plans we consider a part of conventional wisdom were perfected during the times of our grandparents and their parents. They lived in a much different world. Social Security is no longer enough these days for most retirees. And by the time you actually reach your retirement age, the world is going to be […]
What’s the best age to start taking Social Security? This is a very good question! You have the option to take retirement benefits as early as age 62. However, s0-called “full” retirement benefits are payable at age 67. And, if you or delay collecting your retirement benefit until age 70, it will be for a […]
Millions of Americans receive Social Security benefits every month, and many of them depend on these payouts to support a large part of their monthly budget. However, the payout can vary according to where you reside after retirement. The highest is New Jersey, at just over $20,000 a year. Clearly, this is not an adequate […]
Equity investors increasingly invest in funds with passive strategies. Instead of using an active strategy of picking certain stocks, passive funds park money in assets with returns based on stock indexes reflecting the whole market, the good, the bad and everything in between. But active strategies can outperform passive ones, not only in stock trades […]
By the year 2034, it is estimated that the reserves of the Social Security Administration will be depleted by 25%. That means that, by that year, Social Security recipients may end up getting about 76% of their monthly benefits. A Social Security recipient receiving $1,500 monthly now, the current payout average, would end up getting […]
One of the best tax credit and reduction opportunities for anyone with a retirement account is also one of the least-known ones. Do you know about the saver’s credit and what it can do for you? Here is what you need to know. What is the saver’s credit tax break? The saver’s credit is officially known […]
Annuities and mutual funds are two of the common choices of investments for many retirees. There are upsides and downsides associated with investing in either of these options, as is the case with all financial products. If you are someone who is about to retire, does it make more sense for you to invest in […]
The pop-culture myth of retirement as a fun-filled stage of life and leisure and a rite of passage is just that — a myth. Retirement is really about creating a post-work lifestyle. To fund that, a retired person should have a dedicated retirement account, or several accounts, in addition to Social Security benefits, that will […]
