Retirement

By Richard Eisenberg, Next Avenue Editor getty You might not think there’d be much difference between the way members of Generation X (who are 40 to 55) and boomers (56 to 74) feel about money, since they’re age-adjacent. But truth is, survey after survey is showing that Gen Xers are far more financially fragile and

Economic Security Planning, Inc. Today’s column addresses questions about widow’s benefits when a spouse dies before full retirement age, whether continuing income will increase benefits, having worked in the US and a foreign country and the possibility of taking spousal benefits before retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University and

Social Security is falling short because of persistent wage inequality and political inaction; President-elect Biden has comprehensive plans to strengthen Social Security. A woman with her children walks with a placard reading ‘Social Security, not Global Security’. … [+] Thousands protesters marched again against the ‘Global Security Law’ bill promoted by French President Macron and

Organize a compilation of your 2020 trust planning now! getty So, you created one or more trusts in 2020 with interesting sounding acronyms: SLAT, DAPT, SPAT, etc. And now you are just happy to be done. Well, you are not done yet! You and your advisers should prepare a compilation of the planning documentation you have

Blueberry vendor at Lake Chapala, Mexico Bryan Clark Although you don’t know me, here’s a fun riddle that could apply to lots of people, and maybe even you: “Guess what these four things have in common for the author of this article: blueberries, shrimp, and the services of Raul (my local auto body shop owner)

Start 2021 with New Year’s resolutions that can really improve your life in retirement. getty It’s likely you’ve seen or made typical New Year’s resolutions that could make your retirement better: save more, spend less, lose some weight, and so on. While those resolutions can definitely help improve your life, following are four New Year’s

Within the last 12 months, we have essentially seen the passage of three major pieces of federal legislation that impact retirement planning. Far and away the biggest retirement planning bill of the three was the SECURE Act, passed at the end of 2019, and mostly going into effect in 2020. However, due to COVID-19 and

Young graduates wearing rented gowns and mortarboards applaud a speech in the central hall of their … [+] university during their graduation ceremony, on 13th July 2017, at the University of York, England. (Photo by Richard Baker / In Pictures via Getty Images Images) In Pictures via Getty Images Before my wife and I got

FEBRUARY 29, 2020: A set of gold-plated tea cups (Photo by Robert Alexander/Getty Images) Getty Images Most likely you will pay your Social Security taxes all year round. But some high earners will stop paying before their hangover headache hits in the wee hours of New Year’s Day.  Social Security benefits are paid by the

getty The clock is running out on 2020. If you’re like the 83% of Americans who think that 2020 was either just “OK,” “bad,” or “terrible,” you’re probably looking forward to ringing in the new year. But if you have an hour or so to spare before the ball drops, a smart money move before

“If I have seven figures in a retirement account, is it possible I’m saving too much for … [+] retirement?” getty In my line of work, I meet a lot of people who are concerned they haven’t saved enough for retirement. But interestingly, I’ve also heard the opposite. “If I have seven figures in a

Senate Majority Leader Mitch McConnell walks to his office after leaving the Senate Floor on … [+] December 21 Getty Images On Sunday, President Donald Trump signed a $900 billion stimulus bill expected to address the health and economic fallout of the COVID pandemic. The relief measure includes a one-time $600 payment per eligible adult

The controversy over the deductibility of payroll expenses by Paycheck Protection Program (PPP) loan recipients has finally been settled, less than a week before the end of the year.  The Consolidated Appropriations Act, 2021, signed into law Dec. 27, 2020, allows deductibility of … [+] payroll expenses by Paycheck Protection Program loan recipients. getty Deductibility

getty How do you write about something that didn’t happen? On Sunday night, President Trump, after much delay, signed the combo Covid-relief and omnibus appropriations bill. Since I had been bookmarking a variety of articles that anticipated the inclusion of retirement related provisions in that bill, and even more voices calling for the need to

Senator Brown helps a small group of workers protect their pensions. Now is time for pensions for all American workers. UNITED STATES – OCTOBER 16: Sen. Sherrod Brown, D-Ohio, speaks to a member of the United Mine … [+] Workers of America during an event in Dirksen Building with workers and retirees to call on

getty The Economic Impact Payments, or stimulus checks as they’ve come to be known as, were one of the most hotly debated aspects of the COVID-19 relief package Congress agreed to earlier this week. When the CARES Act was passed back in March, qualifying individuals received $1,200 checks. That amount is down to $600 under

How a reverse mortgage can be part of an integrated retirement plan getty The practice, almost without exception, is to deliver HECMs as a stand-alone. HECM reverse mortgage lenders are barred by HUD rule from delivering HECMs in conjunction with any other financial instrument. And every annuity provider we have queried has an internal rule

Nobody promised it would be easy to live 25 to 30 years in retirement. getty The fact is, human nature often gets in the way of planning effectively for retirement. Even when people take the time to learn about various retirement strategies and financial products and services, for various reasons, sometimes they just don’t get

Follow-through is as important in estate planning as for your golf swing. getty 2020 estate planning was a wild ride! Throngs of wealthy Americans had their advisers assist them with all types of planning. Much of the planning was based on the fear that the Democrats would control Congress and pass harsh tax legislation. Regardless

Stewardship and Charity: Charity, caring, giving, and helping others are all part of the holiday spirit.  The holidays, perhaps particularly Christmas, are a time when people strive to be generous. Christians are encouraged to give generously and regularly. This is based on the concepts of stewardship. The concept of stewardship stems from a simple premise: