Get Your Social Security Statement Online

social security statement online

Once a year my wife and I each receive in the mail our Social Security Statement. It shows us our earnings record for both social security and medicare. And it gives us an estimate of our future social security benefits depending on when we decide to retire. Recently the Social Security Administration made these statements […]

Published or Updated: May 25, 2012

2012 Retirement Confidence Survey

Savings Reported by Workers

The Employee Benefit Research Institute recently released its 2012 Retirement Confidence Survey (pdf download). It’s not a pretty picture. The survey covers a lot of retirement issues, including confidence you’ll have enough to retire (most aren’t so confident), what age you think you’ll retire (in 1991 11% said 65; in 2012 it jumped to 37%), […]

Published or Updated: May 4, 2012

Medicare ‘As We Know It’ Dead in 2024

So this is a good news, bad news, more bad news, and really bad news situation. The good news is that the financial stability (or lack thereof) of medicare and social security haven’t changed much since last year. I’m afraid the good news stops there. The bad news is that Medicare Part A (hospital insurance) […]

Published or Updated: April 23, 2012

What’s New for IRA Retirement Accounts (2012)

Each year the IRS puts out a comprehensive guide to Individual Retirement Arrangements (I always thought IRA stood for Individual Retirement Accounts, but it’s Arrangements). Called IRS Publication 590, it was last released on December 16, 2011. It covers new rules for both 2011 and 2012. Because the deadline for 2011 IRA contributions was April […]

Published or Updated: April 19, 2012

Traditional IRA Contributions and Deduction Limits For 2012

2012-IRA-Contribution-and-Deduction-Limits-Covered-by-Employer

As I’ve written about in the past, an IRA is a great way to save for retirement. If you qualify, you can stash money away for retirement, deduct your contributions from your taxable income, and let your nest egg grow tax-deferred until you take it out during retirement. The rules on contribution limits and whether […]

Published or Updated: October 28, 2012

Reader question: Should you invest in a 401(k), a Roth IRA, or pay off credit card debt?

Recently a reader e-mailed me with the following question: I definitely do want to open a Roth IRA as soon as possible because I hear it’s typically better than the Traditional IRA. However, I’m not certain whether one should be putting money way in one’s 401K or Roth. As you can tell, I’m not that […]

Published or Updated: January 7, 2012

Social Security Increase (COLA) for 2012–3.6%

Social Security Benefits Increase 2012

The Social Security Administration announced that monthly Social Security and Supplemental Security Income (SSI) benefits will increase 3.6 percent in 2012. Called a Cost-of-Living Adjustment, or COLA for short, the 3.6% increase is the first raise in benfits since 2009. About 55 million Social Security beneficiaries will see the increase beginning in January 2012. Another […]

Published or Updated: October 20, 2011

Retirement Income Security Made Simple

Sources of retirement income

If you’re about to retire, you’ve got to be deadly serious about your retirement income security. All kinds of thoughts might be running through your head. “What if I need more income for some unexpected reason? What if my investments don’t do as well as planned? What if I live longer than I expect? Should […]

Published or Updated: March 29, 2014

Everything You Want To Know About Annuities

Annuities

An annuity is an insurance product by which you make a lump-sum payment or series of payments. In return, the insurer agrees to make periodic payments to you beginning immediately or at some future date. Annuities can be used as part of a retirement strategy as many retirees want to receive a steady stream of […]

Published or Updated: March 15, 2013