Social Security 2100 Act Congress needs to act to ensure the future of Social Security. The 2018 Social Security Trustees report projects that beneficiaries will see a 21 percent cut in benefits by 2034 unless Congress takes action to prevent the funding shortfall. The Congressional Budget Office’s estimate is more dire, setting the year at…
Category: retirement
Women spend less than half of adult life in marriage- implications for retirement
A study by the Center for Retirement Research at Boston College found that the average US woman now will spend less than half of her adult life as part of a married couple. This “has significant implications for financial planning,” the study’s authors note. (8/21/17 Retirement Security Smartbrief). Do Women Still Spend Most of Their…
7 Retirement X-Factors for Your Nest Egg
Almost everything you need to know to plan for retirement is available on the blog post by Joseph Hogue, author of the PeerFinance101 blog: 7 Retirement X-Factors for Your Nest Egg. It’s never as simple as accumulating X times your salary or other “rules of thumb.” Check out: http://peerfinance101.com/retirement-x-factors-how-much-need/ Source: Financial Planning for Women
Do you have enough money to retire?
A common question for pre-retirees is whether they have enough money to retire. Of course, the most accurate answer is: “It depends.” How long are you likely to live? What lifestyle do you desire? What “guaranteed” sources of income do you have and how secure are those sources? What health expenses will you face? Will…
How to select a continuing care retirement community
“By combining independent living with a continuum of care, CCRCs offer a viable solution for older adults who are healthy today but seek the peace of mind of having care services readily available in the future.” While this blog post is written for financial advisers, it provides an excellent over view of CCRCs to help…
Test your Retirement Knowledge and Readiness
“How much do you know about planning for a long, financially secure retirement? Fidelity Investments recently prepared a two-part quiz that can help you answer that question. The first part concerns retirement savings and asks three key questions about how to put enough money away for a secure future.”“The second part of the quiz includes…
Tax time is the time to act on retirement savings!
It’s time to feed your “Financial Freedom Fund.” The federal government (under previous administrations… not sure how long this great deal will last….) offers a tax credit to help workers boost their retirement accounts. “The Retirement Savings Contribution Credit, aka the Saver’s Credit, is a tax credit that may be applied to the first $2,000…
Should you retire with a mortgage?
More and more Americans are retiring with a mortgage. With low interest rates many financial advisers suggest it is better to have a mortgage and keep other funds invested. Some people delight in getting a tax deduction for mortgage interest. However, too many taxpayers who do not prepare their own taxes do not understand how…
Take account of how spending varies throughout retirement
“Spending during retirement tends to vary as retirees age, rather than being a matter of steadily drawing down funds, writes Michael Kitces of Pinnacle Advisory Group. A projection of spending based on age banding can show that ‘retirees may not actually need to save as much or accumulate as large of a nest egg to…
How to Save for Retirement When You’re Self-Employed
Writer Abby Hayes explains the importance of starting early to invest for retirement and the options available for the self-employed. Whether self-employment is your only source of income or a supplement to a job, learn about the options and get started today. See: http://money.usnews.com/money/blogs/on-retirement/articles/2016-10-26/how-to-save-for-retirement-when-youre-self-employed Source: Financial Planning for Women