A look at this easy-to-administer retirement program. Do you want a simple retirement plan? A plan you can implement easily as an independent contractor or small business owner, without a lot of paperwork? A SIMPLE IRA may be the answer. A SIMPLE IRA plan gives you a tax break, while giving you and your employees […]
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Dispelling some misperceptions about the program. Some myths & misperceptions keep circulating about Social Security. These are worth dispelling, as more and more baby boomers are becoming eligible for their retirement benefits. Myth #1: Social Security will go away before you do. The federal government has announced that Social Security may become insolvent between 2033 […]
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The top financial considerations for those ready to make a move. Switching from one job to another can literally pay off. Data from payroll processing giant ADP confirms that statement. In the first quarter of this year, the average job hopper realized a 6% pay boost. The salary increase averaged 11% for workers younger than […]
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Some costs could rise, fall or even disappear. Your retirement may seem near at hand or far away, but one thing is certain: your future will differ from your present. Financially, that fact is worth remembering. Some of the costs you have paid regularly all these years may suddenly decrease or fade away. Others may […]
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Before you make any extra mortgage payments, consider some factors. Should you own your home free and clear before you retire? At first glance, the answer would seem to be “absolutely, if at all possible.” Retiring with less debt … isn’t that a good thing? Why not make a few extra mortgage payments to get […]
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New statistics point out an alarming financial problem. $6,876. That is the average amount of credit card debt owed by an American household headed up by an individual aged 65-69.1 If you are newly retired or close to retiring, that figure may alarm you. It is more than twice the amount of Social Security’s maximum […]
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The habits and values of wealthy Americans. Just how many millionaires does America have? By the latest estimation of Spectrem Group, a research firm studying affluent and high net worth investors, it has more than ever before. In 2015, the U.S. had 10.4 million households with assets of $1 million or greater, aside from […]
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Too many Americans have no life insurance. Their loved ones may pay dearly for that choice. September is National Life Insurance Awareness Month – a good time to think about the value and importance of insuring yourself. According to a recent Bankrate survey, 42% of Americans have no life insurance at all. They may […]
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A look at some popular & obscure options for receiving money with little or no tax. Will you receive tax-free money in retirement? Some retirees do. You should know about some of your options for tax-free retirement distributions, some of which are less publicized than others. Qualified distributions from Roth accounts are tax-free. If you […]
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