Retirement

After years of the decline of defined benefit (DB) plans for employee retirement, it was surprising to see IBM announce the reopening of its DB plan. Meanwhile, we continue to see headlines on the paucity of retirement savings workers have in their largely self-funded defined contribution (DC) plans. IBM’s traditional DB pension plan had $25.1

Introduction Ethical questions arise during many estate plans. Sometimes, these are ethical issues that you and/or your family may have to grapple with. Sometimes, the ethical issues that arise are ones that you create for your professional advisers. While the adviser has to determine how they will address those issues, their decision may affect what

Those properly licensed people who help us manage wealth may not be fully informed about financial elder abuse. In exploring what their organizations do in this area, we have observed little training or inadequate training. ThinkAdvisor reports on a case involving a “court fight over a recently deceased grandmother’s $5 million IRA”, which, it states,

With the dawn of another election year, even a cursory glance at the headlines serves as a reminder of how volatile and divisive U.S. politics have become. Add to that a string of global crises and conflicts, and the desire to somehow escape from the chaos becomes easily understandable. As the founder of Live And

In Christianity alone, it is estimated that there are thousands—yes, thousands—of different denominations around the world. Each denomination has its own interpretation of Scripture and its optimal application. If you’ve ever been part of this world, you likely know many denominational devotees would, indeed, “die on that hill” for various individual tenets of the faith.

If you expect fabulous returns to continue, you’re likely to be disappointed. Look closely at the data and you’ll see why. By William Baldwin, Senior Contributor Emerging market stocks will beat U.S. stocks. Junk bonds will beat high-grade bonds. Inflation will be 2.5%. Prognostications from the market seers. Big financial institutions put out what they

Gift tax returns could be the most misunderstood, neglected, and overlooked part of estate planning. There are many people who know estate planning quite well but draw blanks when issues about gift tax returns are raised. The gift tax return is IRS Form 709. You can download it free from www.irs.gov. The first mistake people

Valentines Day brings up the subject of romance and finding a partner for those who are alone. Many turn to social media, dating apps, and any online resource they can find. Clever scammers know that there are endless opportunities for them to find and fleece naive older adults. Those who are most trusting of others

What’s the most you can receive from Social Security? The answer is…it depends on your age, your work history, your marital status, and your retirement decisions. Let’s start with answering the immediate questions about the maximum Social Security benefits payable in 2024, then we’ll explore how you can maximize your Social Security benefits. What Is

I know; you’re probably ready to come at me with a million reasons why my assertion in the title is emphatically untrue. But retirement planning is not the complicated problem that you imagine. No, no, retirement planning is complex. What does that even mean? And why does it matter? We have to be careful about

The Social Security retirement program will be unable to pay full promised benefits in about 10 years. To address this, two highly-respected experts would slash tax subsidies for private retirement savings and use the money to shore up the public system. Andrew Biggs, a former deputy administrator of the Social Security Administration and Alicia Munnell,

The American College of Financial Services just released its fourth Retirement Income Literacy Study. Every three years in the past decade The College has conducted a comprehensive survey of retirement income literacy, and these surveys have helped measure Americans’ understanding of key retirement planning issues. I draw four conclusions from the current iteration of this

A new bill winding its way through Congress aims to increase retirees’ net income from Social Security by eliminating federal taxation of benefits. Unless the You’ve Earned It Act miraculously becomes law, it is important that you understand how your Social Security benefits are taxed at the federal level. You’ve contributed towards your Social Security

Marriage is hard, and money makes it harder. Merging two lives, two beings who are always changing, is a delicate balance of individual autonomy and collective submission that requires perpetual calibration. Into this fragile ecosystem, each partner brings their own financial history, and the balance sheet—what you own and what you owe—is just the beginning.

Most of today’s pre-retirees and retirees will fall short of the retirement income replacement goal that’s commonly advocated by retirement planners. According to planners, you need a gross retirement income from all sources that ranges from 70% to 85% of your preretirement pay; attaining that goal will replace all your after-tax, spendable income while you

There seems to be a lot of confusion about whether you can pay your Medicare premiums from your health savings account (HSA). Technically, you cannot pay your Medicare premiums from your HSA. But yes, you can use your HSA funds to pay your Medicare premiums. Keep reading as we explain. Can You Pay Medicare Premiums

According to a study by the Pew Research Center, about 27 percent of American seniors live solo. They can include your aging parent or other loved one. Many are widowed or divorced. What is it like for them and what does it take to have a satisfying life? Retired business manager (RM), age 65, is

The labor market added another 353,000 jobs in January. The Bureau of Labor Statistics revised the estimates for the prior two months up by 126,000 jobs. Amid these strong jobs gains, the unemployment rate stayed at 3.7%. It now has remained below 4% for 24 months, the longest such period since the early 1960s. As

In late January, I talked with Bill, a client whose job, along with his healthcare insurance, was eliminated and he needs Medicare by March 1. My first question was, “Are you enrolled in any part of Medicare?” He replied that Social Security enrolled him in Part A, hospital insurance, when he signed up for retirement

Many Americans depend on Social Security to make ends meet each month. Depending on your total household income, you may be surprised that you owe taxes at the federal level on your Social Security benefits. Your state of residence will determine the taxes you owe on your Social Security benefits at the state level during