With pensions dying out and the responsibility to save enough in your working years to pay for decades of life without a paycheck squarely on workers’ shoulders, the traditional idea of retirement may no longer be realistic for most. That might not be a bad thing, though. Working full-time until 65 or 70 years old, then…
The Importance of Incorporating Your Retirement Accounts in Your Estate Plan
You know you need to do some estate planning to properly protect yourself, your assets, and your loved ones. But is your plan complete, or did you leave a few key assets out of those documents by mistake? Most people are unaware that retirement accounts are an important estate plan component. Fewer still understand the…
Low Average Retirement Savings By Age: What To Do About It
If you look at the average retirement savings by age, you might find them alarming. You may even come to the conclusion that Americans are facing a pretty dire situation. Just take a look at the median retirement savings of families by age, reported by CNBC: 44 to 49: $6,200 50 to 55: $8,000 56 to…
What to Do if You Receive Incorrect Information from Your Local Social Security Office
The Social Security system is notoriously frustrating. For example, did you know that it is not the job of the Social Security Administration to advise beneficiaries how best to take their benefits? This means staffers at your local Social Security office may not understand every arcane rule or unusual circumstance you may face. Some beneficiaries…
How Remarrying Late in Life Could Affect Your Social Security
The Social Security Administration uses many factors to calculate benefit amounts for beneficiaries, including marital status. For long-married couples who are lucky enough to grow old together, calculations for spousal and survivor benefits are fairly straightforward. However, widowed or divorced Social Security beneficiaries can run into complications if they decide to remarry later in life….
How Social Security Calculates Widow and Widower Benefits
Social Security offers several different types of benefits to the survivors of deceased beneficiaries, but widow and widower benefits are the type of survivor benefits that affect the most beneficiaries. Though it can be unpleasant to think about you or your spouse dying, it’s a good idea for married couples to include widow or widower…
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