New Social Security Statements Available
Have you checked your Social Security statement on the SSA’s website? You should; there’s a lot of good information there!
Have you checked your Social Security statement on the SSA’s website? You should; there’s a lot of good information there!
If you’re a baby boomer, you may want to begin your Social Security planning early – and it’s especially true when it comes to claiming Social Security! Today it’s different from when your parents filed their claims: they just went down to the Social Security office and put in the paperwork! Today, it’s far more complicated.
Retirement planning was much easier during working years than the challenge of managing after retirement. During the working years it’s relatively simple: just keep stashing money into your retirement plan and let the markets, over decades, do the rest!
We’ve all been conditioned to believe the well-known 529 plan is the “designated” college savings vehicle – people tend to think of it automatically when planning.
There may be times when a Roth conversion may be advantageous; but there are others when it may not be your best move.
Social Security can be confusing; even the hard-working people working in Social Security offices don’t always get it right. Here are the two questions advisors often get asked.
Social Security claiming mistakes can result in more than just lost income; you might end-up paying thousands in extra taxes later!
Longevity risk is real. Accumulating assets for retirement was a lot easier than managing retirement income. Now you practically have to be an actuary to make sure your money doesn’t run out before you do!
Longevity risk is real. Accumulating assets for retirement was a lot easier than managing retirement income. Now you practically have to be an actuary to make sure your money doesn’t run out before you do!
We all know the Fed target is 2% inflation; but, since COVID-19 and all the accompanying spending, it’s been tough going for the Fed. While the rate of inflation has been slowly declining, it’s still stubbornly around 3% – and with people living longer, it can still spell disaster for those facing retirement, especially with longer life expectancies.
Retirement milestones should actually begin the day you leave school and enter the workforce; but few people think about retirement at that age. They’re too busy starting careers. If they achieve early success, they won’t even be worried about retirement. It’s been my experience that it’s after age 50 they come through my door. By that time they’re done with stock tips and chasing rainbows. Age 50 has a way of making all of us start thinking.