Category

Social Security

SS program changes limit future planning options.

Social Security Changes Will Limit Future Planning Options

By | Financial Planning, Retirement Planning, Social Security | No Comments

A few days before Halloween, Congress managed to slip a couple of ‘tricks’ into the Bipartisan Budget Act of 2015 that impact many soon-to-be retirees and their retirement plans.  On October 28th, the House of Representatives approved a bill that could cost retirees tens of thousands of dollars in benefits by eliminating two Social Security claiming tactics known as file-and-suspend…

Read More
SS Check

Social Security COLA Increase Unlikely for 2016

By | Financial Planning, Retirement Planning, Social Security | No Comments

On August 14, 1935 President Franklin D. Roosevelt signed the 37 page Social Security Act into law, ushering in a new concept of retirement for millions of Americans.  But even as the Social Security program celebrates its 80th birthday, retirees will likely be receiving a nasty surprise this year. The latest annual report from the Social Security trustees is projecting…

Read More
Retirement Nest Egg

Americans Aren’t Saving Enough for Retirement

By | Retirement Planning, Social Security | No Comments

We have just surpassed the six year mark for our current bull market and while many retirement nest eggs look a lot healthier than they did in 2009, the question that remains largely unanswered is whether they are healthy enough for most Americans to comfortably retire when and how they want.   A number of other organizations are constantly taking a…

Read More

President’s 2014 Budget Proposal Contains 4 Big Changes for Your Retirement

By | Social Security | No Comments

While much of the nation’s attention has been focused on the federal government shutdown that was avoided earlier this month and the mistake-plagued rollout of Obamacare, another proposal coming out of Washington D.C. has avoided much of the media and public’s attention. President Obama’s 2014 budget blueprint for 2014 includes the following four provisions that could have lasting effects on…

Read More

Americans are Not Saving Enough for Retirement

By | Social Security | No Comments

A new report paints a bleak picture for the future retirement prospects of many Americans. New data released by the Employee Benefit Research Institute in their 2013 Retirement Confidence Survey indicates that fifty-seven percent of workers have saved less than $25,000 for retirement, not including the value of their home or defined benefit (pension) plans. The data suggests that the…

Read More

Fiscal Cliff Resolved, but Further Challenges Remain

By | Social Security | No Comments

Congress approved legislation in late December to avert billions of dollars in tax increases and spending cuts, helping the United States avoid what many were calling the ‘Fiscal Cliff.’ The resulting legislation is formally known as the American Taxpayer Relief Act of 2012. But other political and financial challenges remain, including how to tackle the short term debt ceiling issue…

Read More