2 ways to boost retirement savings
Many workers are unaware they have the option of making catch-up contributions to retirement accounts, missing out on an opportunity to boost savings.
Social Security benefits
Medicare won’t cover this key expense, and it’s eating into retirees’ savings
Dental expenses can eat away a considerable amount of retirees’ savings, but these costs are important to prevent health complications and other medical expenses.
Protect retirement savings against market crashes
The worst thing investors can do is panic and sell.
Why full retirement age is so important for Social Security
Retirees who opt to file at a much later date can earn delayed retirement credits that could boost their benefits by as much as 32%.
The most likely cause of financial ruin — and few prepare for it
Even middle-class households who have health insurance are at risk, as a researcher points out that they are the ones who filed for the most bankruptcies.
Social Security scams are a growing threat to retirees
One tip for seniors: They should register their My Social Security account as early as they can before other people can create the account.
7 things retirees need to know about their 2018 tax return
Seniors are more likely to opt for the standard deduction, which increased under the new tax law, but those who want to maximize their deductions have several considerations.
When taking Social Security at 62 could be wise
Conventional wisdom says to postpone filing for benefits until full retirement age or, even better, until your 70th birthday. Are there some cases when that doesn't apply?
Maximum 401(k) contributions climb for 2019. Here’s what that means for savers
Workers should consider contributing the maximum amount to their 401(k)s, whose contribution limits have increased for this year.
Here’s when seniors might be looking at Social Security cuts
Seniors are advised to take measures to prepare for a possible shortfall in retirement income, as there is no guarantee for an immediate fix to the problem.
Social Security is 66% of retirees’ primary source of income — that’s a problem
Benefits are meant to replace just 40% of preretirement income, so many retirees should consider creating new income sources, such as running a small business or renting out a property.
Restricted application Social Security strategy is on its way out
This strategy enables retirees to restrict their application to spousal benefits and allow their benefit to grow until they reach 70.
Getting close to retirement? Here are 6 key considerations
Employees who plan to retire next year should ensure they have enough savings to cover their healthcare expenses before making a decision.
Are there advantages to signing up for Social Security and Medicare at the same time?
There can be benefits in enrolling simultaneously, but there are also incentives to consider in waiting on Social Security instead of claiming benefits at 65 when Medicare kicks in.
4 critical questions to ask during a market downturn
Clients can often retire smoothly even during a downturn if they diversify and rebalance their portfolios properly, as well as pay off debts and maximize their Social Security benefits.
Misconceptions about health costs when you’re older
A widely held view is that a lot of spending is wasted on “heroic” measures at the end of life, but it’s difficult to know which patients are in their final year.
New 401(k) legislation could bring big changes for retirement savers
One of the major provisions of proposed legislation would require 401(k) plans to offer annuities so participants could create new income streams.
Social Security will be around when you retire, but don’t expect to live off it
Despite Social Security's financial woes, the revenue shortfall can be easily fixed, say experts at Boston College Center for Retirement Research. But it will only go so far in paying for living expenses.
Is your client really ready to retire?
Seniors should not only have a financial plan in place, but activities to keep them preoccupied.
