By Sandra Block From Kiplinger’s Personal Finance Getting the most out of your Social Security benefits could significantly improve your retirement security, and if you’re married, it’s not a decision you should make in a vacuum. Before you and your spouse file for benefits, you should consider a host of factors, including your respective earnings…
Decisions You Must Make Before Retiring
Sooner or later, you will want to retire. When you do, you will want to ensure that you are both comfortable and healthy during that time so you can enjoy it. The Department of Labor (DOL) says the average length of retirement for Americans is 20 years. This much time requires that you do some…
Agency Puts Lump of Coal in Seniors’ Stockings
Just last week, I wrote a column in which I passed along my ideas for a holiday gift for senior citizens. One is a booklet published by the Social Security Administration called “Fast Facts and Figures.” It’s a short booklet (about 40 pages) crammed with fun and interesting tidbits about the Social Security program. Just…
IRS Warns of 50 Percent Penalty for Failing to Make Retirement Withdrawals
Throughout the decades, millions of Americans had small amounts from their paychecks withdrawn—before taxes were deducted—and invested the money in retirement plans. As those taxpayers retire or plan for retirement, the Internal Revenue Service is reminding them about required mandatory withdrawals from retirement accounts. Failure to withdraw funds or not taking the minimum required amount…
Impact of the SECURE Act on Beneficiaries
By Elliot Raphaelson From Tribune Content Agency IRA (Individual Retirement Account) expert Ed Slott (IRAhelp.com) recently summarized in a recent newsletter the significant impact the SECURE Act of 2019 had on IRA beneficiaries. In this column I will discuss some of the major changes. The first thing to understand about the changes wrought by the SECURE Act is…
Upcoming Changes to Social Security You Can Appreciate
December 16, 2022
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Some of the highest inflation rates in the United States for decades occurred in 2022. Although costs have skyrocketed this year, making things financially tight for many people, it also has a good side—for next year. The abnormally high rate means that the annual cost-of-living adjustment (COLA) made by the Social Security Administration (SSA) will…
10 Mistakes to Avoid as a Solo Retired Traveler
Consumers are taking the plunge into solo traveling, despite the cost of traveling surging in recent months due to higher inflation and interest rates. Traveling alone during retirement is nothing new, and millions of retirees and more mature adults are enjoying the excitement of experiencing a new country or culture by themselves. Most recent statistics…
The Dos and Don’ts of Paying Off a Mortgage Before Retirement
By Daniel Bortz From Kiplinger’s Personal Finance Many people strive to pay off their mortgage before they retire. But that isn’t always the best financial move. “Having fewer bills to pay in retirement makes your retirement savings go further and your mortgage payment is typically your biggest monthly expense,” says David Edmisten, founder of Next…
My Social Security Holiday Gift Ideas for You
My holiday gift guide doesn’t include a box of chocolates or tickets for a Caribbean cruise. This is a boring old Social Security column, after all, so my gift suggestions are related to that government pension program. Near the top of my list is my absolute favorite Social Security publication. Called “Fast Facts and Figures…
United Places Huge Order With Boeing to Replace Aging Planes
United Airlines said Tuesday that it ordered 100 new Boeing 787s, a large, twin-aisle jetliner, to replace planes that are nearing retirement age and allow United to expand its international flying. United also added to its order book for the smaller Boeing 737 Max, which is used on domestic flights. The companies did not disclose…
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