Tag Archives: retirement

Are you 50 and struggling to finance the Retirement you want?

If you are 50 or already into your 50’s and you have not saved enough for your retirement, there is no need to panic. There are steps you can take to improve your situation. You can start right now. 1. Save more. This is probably the most obvious step to take. Because your 50’s are typically your peak earning years, the IRS lets you save more money in your retirement plans starting the year you… Read More »

Should you downsize after Retirement? The answer isn’t simple.

It’s a question as old as Retirement itself: Now that the children are gone, should you downsize your home?​ Maybe move to your favorite vacation spot to enjoy the sunshine and natural beauty? Or should you stay put, relaxing in familiar surroundings and a community you know well? Today’s retirees enjoy more freedom than ever to choose where and how they live. Many retirees choose to downsize or move to be closer to family, to… Read More »

Your Social Security Checks May Be Lower Than You Think

Amid countless headlines about the projected Social Security shortfall that could necessitate a 23 percent cut in benefits by 2033, seniors are understandably frustrated by Congress’ failure to address the issue. But many future retirees aren’t aware the following factors could also diminish their Social Security income.   (1) In 2016, seniors who begin drawing Social Security before their full retirement age will see their benefits reduced by $1 for every $2 of earned income… Read More »

Growing Your Retirement Funds Faster

Recent market volatility may have left you staring at your 401(k) in dismay. If you’re not seeing the results you want, there are ways to help grow your 401(k) faster. Of course, the most obvious solution would be to contribute more. If you get a raise – raise your contribution amount. Hopefully, you’re already taking advantage of “free money” and contributing the full amount your employer matches, but you can always go above that amount… Read More »

Budget Deal Kills Popular Social Security Strategies

Last week, President Obama signed a two-year federal budget deal into law that included an amendment containing the most significant Social Security reform since 1983. The provision, which abolished two popular strategies used to maximize retirement benefits, could cost some Americans up to $50,000 in reduced lifetime accumulation.   Prior to the legislation, claimants could file for Social Security before their full retirement age, suspend payments and retain the option to retroactively unsuspend benefits. With… Read More »