Tag Archives: Social Security
44 Social Security ‘Secrets’ All Baby Boomers and Millions of Current Recipients by Laurence Kotlikoff
Social Security’s Handbook has 2,728 separate rules governing its benefits. And it has thousands upon thousands of explanations of those rules in its Program Operating Manual System, called the POMS, which provides guidance on implementing the 2,728 rules. Talk about a user’s nightmare! As a young economist, I did a fair amount of academic researchContinue reading “44 Social Security ‘Secrets’ All Baby Boomers and Millions of Current Recipients by Laurence Kotlikoff”
Doctors, carehome owners and caregivers are some of my clients
They all know that health threats like cancer,stroke or disability can occur without warning. And that they are safe in knowing that they can leave behind a substantial estate with a stroke of a pen to their love ones. And that to act now means ensuring their retirement for lifetime income sooner than later withContinue reading “Doctors, carehome owners and caregivers are some of my clients”
For the 80 million Americans, social security is their only retirement income
There is a shortfall between what people have saved and what they’ll need to maintain their standard of living in retirement. And, certainly, what Americans have put away for retirement is paltry. Unless we all start saving like crazy, the pundits say, we’ll have nothing to live on during our so-called golden years. Or we’llContinue reading “For the 80 million Americans, social security is their only retirement income”
taxes,where your money go,itemized tax deductions
To retire or not to retire at 62 or 70 yrs old
Below are feedback from many retirement planners. Taxes An IRA is 100 percent taxable but only up to 85 percent of Social Security is taxable,” she adds. If you take Social Security at 70, “you’ll have more money available for your retirement years.” Reduced Benefit Although you are eligible to begin taking Social Security atContinue reading “To retire or not to retire at 62 or 70 yrs old”
Start saving at 25yrs old or prepare for new careers when you are older
A 25-year-old just starting to save would only need put away about $160 each month to generate $1,000 in monthly retirement income. Start saving at age 35 and you’ll need to contribute almost $270 a month to generate the same income. For every $1,000 in monthly income, a 45-year-old just beginning to save for retirementContinue reading “Start saving at 25yrs old or prepare for new careers when you are older”
The age you retire
The age you collect Social Security While you can start Social Security payments as early as age 62, you won’t get the full amount you have earned until your full retirement age. The full retirement age is 66 for most baby boomers and 67 for everyone born in 1960 or later. A worker born inContinue reading “The age you retire”
Zero market risk, tax free, asset protection, living benefits
The book of Patrick Kelly, The Retirement Miracle, tells us that: 401k retirement plan is not a conservative way to save for retirement and not tax free either Index Universal Life Insurance (IUL) (never takes loses like the 401k did) with living benefits allowing you to receive 75-90% of the face value of your insuranceContinue reading “Zero market risk, tax free, asset protection, living benefits”
Habits of Retirees by Tim Sprinkle
They keep us focused, keep us on task and help us organize the day-to-day tedium of our working lives. Hawaii-based retiree Rik Rodriguez surfs regularly to keep his mind and body sharp.But habits remain important even when the working stops. In fact, after waiting decades to give up on their full-time careers, many retirees wakeContinue reading “Habits of Retirees by Tim Sprinkle”