Subscribe to Spending RSS

Benefit Hitch: Deemed Filing

Submitted by Jim Blankenship on Monday, December 1, 2014 - 12:00pm

Think you have Social Security filing all figured out? There are many kinds of benefits and many ways to make sure you can file for all those benefits you want. Just know about a rule you probably never heard of: deemed filing.

Avoiding Retirement Regrets

Submitted by Josh Patrick on Friday, November 7, 2014 - 12:00pm

Retirement is one of the biggest changes you ever make. Too often I see people regret retiring. They did not think through some of the problems that are likely to happen. You don’t want to be part of that group. Instead, think about retirement in a way that helps you decide whether you are ready for the big day.

Retired? Spend More (Pt. 2)

Submitted by Larry Frank Sr. on Wednesday, November 5, 2014 - 3:00pm

How can you get comfortable with uncertainty about retirement income? Establish a prudent figure for the coming 12 months, pre-set your possible decisions for market dips and update your plan annually. Your plan may even contradict what you thought you knew about spending in the golden years.

Setting Retirement Income (Pt. 1)

Submitted by Larry Frank Sr. on Monday, November 3, 2014 - 12:00pm

How much can you spend in your retirement? Answering this pivotal question requires you look hard at your current spending and how long you can expect to live – and at new approaches to using both factors in your plan.

An important part of your annual update of your retirement plan is new facts and circumstances. The problem: You may overlook important variables even as basic as the right retirement age.

Survivor Benefits: 8 Questions

Submitted by Jim Blankenship on Monday, October 27, 2014 - 12:00pm

Social Security survivor’s benefits become available when a Social Security recipient dies and leaves surviving dependents: a spouse, children and other dependent family members. For many, the benefits constitute a transfusion to diminished household budgets at a tough period of life. The devil’s in the details of these benefits, though, and here are some answers you and yours need ahead of time.

Q: What survivor benefits are available to my spouse?

Social Security Do-Overs

Submitted by Jim Blankenship on Tuesday, October 14, 2014 - 3:00pm

Social Security benefits constitute a big part of many retirement plans. Advice abounds about how and when you need to file. What if you goof?

Generally, you can file for your Social Security retirement benefits when you reach age 62. Most financial advisors recommend you delay filing to better maximize your lifetime benefits.

Let’s say that’s the advice you followed when you first filed. After all, you paid into the system for your entire working life and you deserve to get the money back out, right? Plus, who knows when Social Security will go bankrupt?

You’re a Millionaire? Big Deal

Submitted by Lewis J. Walker on Wednesday, September 17, 2014 - 9:00am

For many, millionaire status is a pipe dream. But to be reasonably comfortable in your golden years, a million dollars is only the threshold.

Celebrated in song, literature, movie plots and motivational seminars, becoming a millionaire status was a sign of financial independence. In the past, perhaps. Today, not so much.

10 Key Pre-Retirement Steps

Submitted by Tom Orecchio on Thursday, September 18, 2014 - 3:00pm

Retirement takes a lot of planning and decades of preparation. You’ve gathered assets, set up a home and perhaps raised children. Now is the time to enjoy all you have achieved. But as you move from the world of work into retirement, here are 10 key steps to take first.

They are:

1. Prepare a budget that takes into consideration typical monthly costs and your plan for big potential expenses (e.g., travel, home renovations, moving).