Q: My Social Security disability monthly check is $864 and my mobile home space rent is $704 not including any utilities.I share the household with my girlfriend who earns about $45,000 but she has a daily 80-mile commute so the transportation costs to get her there are a real negative regarding gas and car repairs [...] [read full article…]
When the housing market was soaring, many baby boomers thought of their homes as piggy-banks that could be cracked open in retirement to finance retirement. High housing prices would allow us to leverage equity to finance our lifestyles, buy second homes or pay entry fees into retirement communities. That thinking was encouraged by the financial [...] [read full article…]
Q: I’m anticipating signing up for Social Security benefits late this year or early next year, as I will soon be 62. I rolled my lump sum retirement over into an IRA. When I begin taking distributions from my IRA, will my Social Security benefit be affected, since I am not yet full retirement age? [...] [read full article…]
While most debate on health care reform focuses on health insurance, debate is heating up on a bill proposing creation of a new government-sponsored long-term care insurance plan. The plan is sponsored by Senator Edward M. Kennedy (D-Mass) and goes by the name C.L.A.S.S. Act, which stands for Community Living Assistance Services and Support. Here’s [...] [read full article…]
The Great Recession is about to squeeze retirees where it hurts: the monthly Social Security check. By law, Social Security passes along an annual cost of living adjustment-or COLA-to recipients. The increase is tied to a broad measure of inflation in the economy, and a year hasn’t gone by since Social Security was created in [...] [read full article…]
