Times Have Changed: How To Save For Retirement Today

his story is part of a series in support of America Saves Week 2021. Since 2007, this initiative has provided a call to action for U.S. consumers to save intentionally. Today’s theme is: Save to Retire. Once you reach a certain age, nearly every dinner party you...

6 Social Security Changes for 2021

These changes in Social Security taxes and benefits take effect Jan. 1 Every October, the Social Security Administration (SSA) announces its annual changes to the Social Security program for the coming year. Here are the Social Security changes that were announced in...

How COVID-19 is Affecting 2021 Retirement Planning

CORONAVIRUS Reactions to COVID-19 and the impact on consumer confidence is prompting many consumers to reassess their retirement and financial plans. A majority of today’s workers and retirees range from feeling cautious to pessimistic about the economic outlook for...

Retirement Services

FERS INFORMATION Eligibility is determined by your age and number of years of creditable service.  In some cases, you must have reached the Minimum Retirement Age (MRA) to receive retirement benefits.  Use the following chart to figure your Minimum Retirement Age....

How to Minimize Social Security Taxes

Your Social Security benefit may be taxable. Try these strategies to reduce your tax bill in retirement. MOST WORKERS PAY INTO the Social Security program throughout their career. Many people also pay taxes on part of their Social Security payments in retirement....

Equity Growth and Asset Protection

The author offers an introduction to how annuities can help. For investors, the last twenty years have been something of a roller coaster. The dot-com bubble, 9/11, the financial crisis, and now the recession associated with the COVID-19 pandemic have roiled stock...

Top 10 Retirement Tips For 2021

For many Americans, retirement may look different in 2021 than it has in years past. The severe economic impact of the Covid-19 pandemic could push many people to consider retiring early, with less saved than they may need. Whether or not your retirement plans are...

How retirement planning needs to change in the new year

Considering annuities, insurance, new investments and delaying Social Security? With all the changes 2020 brought and a new year around the corner, it may be time to revisit traditional approaches to retirement planning. The pandemic and near-zero interest rates...

5 Things You Need to Know About Finances When Turning 65

It’s a pivotal age for retirement planning — even if you aren’t ready to retire yet Gone are the days when most people retired at 65, received a gold watch, then lived off their pension and full Social Security benefits. But 65 is still an important age...

2020 Year End Review of Recent Retirement Plan Changes

Over the last year, both before and after the current pandemic, there have been multiple law changes that have impacted retirement plans and retirement benefits. There have been many articles and constant commentary on these changes, but as we reach the end of 2020,...

Marshmallows and Social Security

Should US retirees delay claiming Social Security until age 70, even if they have to spend savings until then? The Center for Retirement Research at Boston College proposes that strategy as a default option in retirement plans. What do Social Security benefits and...

Benefits of Fixed Indexed Annuities

Fixed indexed annuities (FIAs) address many basic retirement concerns: protection of hard-earned dollars, tax-deferred growth, balance, and lifetime income. Get some peace of mind — no matter what happens in the market. Consider these five key benefits: Guaranteed...

9 Signs You Are Not Financially OK to Retire

And one other reason to keep working Being ready to retire means more than being ready to stop waking up at 6:00 a.m. to put in long hours at a job you’re not thrilled about. If it were that simple, most of us would retire at 25. What it really takes to retire...

Time Claims to Maximize Social Security Benefits

Know your full retirement age, coordinate the timing of benefit claims with your spouse, and weigh the advantages of delaying your Social Security benefits. Social Security benefits have long been a critical part of Americans’ retirement income plans. After all, the...

Older Adults Can Jumpstart the Covid-19 Economic Recovery

Even in light of an all-consuming pandemic, there are some mega-trends that continue their powerful and profound impact on global society. One such trend is global aging, which has led to a reimagining and a reframing of the relationship between age and health,...

How To Maintain Financial Health During COVID-19

With COVID-19 making headlines around the world, it’s normal to feel uncertain about many aspects of life right now, including your finances. Even if you don’t catch COVID-19, you could be financially impacted by the fallout. Throughout this tumultuous period, your...

Covid-19 could upend plans for older workers who want to retire

KEY POINTS The economic downturn prompted by the coronavirus comes at a particularly bad time for older workers. New research takes a look at how well those individuals may fare when it comes to working from home or finding new employment. Results are so-so.  Older...

JPMorgan’s Kelly: Welcome to the ‘Back Roads of the Economy’

Recovery is starting quickly as states reopen, but the journey gets bumpier from here, Kelly and fellow strategist David Lebovitz warn. There is still a long way to go before the United States has a full economic recovery and it is therefore wise for investors to be...

My Retirement Plan Is You

Americans without retirement savings are increasingly moving in with their millennial children. Sian-Pierre Regis, 35, is used to living with roommates. For the past 10 years, he has split the rent on his apartment in the Chelsea neighborhood of Manhattan with two (in...