When corporations moved from pension benefits to 401(k) plans, workers had to become the financial planner, investment manager and actuary in order to successfully plan for retirement income.
Tag: Social Security
Life Expectancy in Retirement – The Ultimate Unknown
When we do financial plans for clients, the biggest planning unknown is how long do they need their money to last. According to a study by J.P. Morgan Asset Management, couples have a 49% chance of one person living to…
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Important Milestones on the Road to Retirement
As you begin to contemplate retiring there are some important milestones to be aware of before finally deciding to finally making the transition. Here are a few important ages to mark the journey to living on your retirement income: AGE…
These Free Tools Will Calculate Your Social Security Benefits
When to claim Social Security is one of the most important decisions retirees can make. Many websites offer free estimates of how much you may receive depending on what age you decide to take benefits. Researchers from the Social Security…
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Social Security Announces 0.3% COLA for 2017 and Raises Amount of Earnings Subject to Tax
Monthly Social Security and Supplemental Security Income (SSI) benefits will increase 0.3% in 2017, the Social Security Administration announced today. The 0.3% cost-of-living adjustment (COLA) will begin with benefits payable in January 2017. Increased payments to more than 8 million…
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Health costs may gobble up Social Security benefits
Health care costs could drain your Social Security benefits in retirement, especially if you're a woman. The average woman could spend an estimated 70 percent of her retirement check on health care costs, according to a recent study by the…
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6 Steps to Prepare for Medicare
Medicare is a valuable source of health insurance for people 65 and older, and making the transition from private health insurance involves some important decisions. These six steps can guide you through the process: 1. Enroll in Medicare Part B.…
Social Security Administration steps up privacy protections
The Social Security Administration had added a new security step for users to access their benefit information online. Starting this month, all users will need a text-enabled cell phone number to log into their accounts at Ssa.gov/myaccount. From now on,…
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How To Get Your Social Security Benefits Statement
You can get a personalized estimate of your future retirement benefits at ssa.gov/estimator. The Retirement Estimator gives estimates based on your actual Social Security earnings record, so make sure that your earnings have been credited correctly.
A Social Security and Medicare Checklist for Near-Retirees
What you don't know about Social Security and Medicare can hurt you. Both of these critical retirement programs have complex rules governing when you file for benefits, interaction with employment, and spousal and survivor benefits. Any one of these factors…
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