If you receive a government pension, your Social Security benefit may suffer a reduction due to a rule called the Windfall Elimination Provision. It pays to know how it works when you plan for your retirement income.
Inflation is the worst enemy of retirees. It is a far bigger threat to your financial security in retirement than any potential for investment loss. Preparing for inflation is crucial. Here are a few tips.
If you’re like most who think about how much you need for your golden years, you probably calculated based on still having a spouse. Widows, widowers and divorcees approaching retirement and about to file for Social Security, though, need to recognize filing options that can significantly increase monthly benefits.
Old age should come with a caution label for many reasons. Most of us expect to live longer than our parents or grandparents. And with longer life come difficulties – and sometimes financial predators.
If you already started Social Security benefits, can you change your mind? Yes. With a little trick called “file and suspend,” you can put your benefits on hold and restart them later to maximize retirement income.
Single folks who were never married have fewer Social Security filing options. Still, you should understand what they are and which fits your needs best.
Getting old is hard. Your parents’ ability to manage their own finances may decline as they age. Helping them with money matters is a sensitive issue you need to approach carefully.
Emotions involved with caring for the elderly can seem almost as overwhelming as the finances. As your loved ones age, what topics must you be ready to discuss? Beyond money, you need to talk about independence and basic preferences for the way individuals want to live or die.
Advancements in medical technologies, new procedures, diagnostic tests, and effective drugs continue apace. But like most things in life, there is an upside and a downside.
Those born in 1950 will turn age 65 next year. Confusion often reigns as these so-called “seasoned boomers” navigate various enrollment periods for Medicare and a plethora of choices. Let’s chart this maze.