Big Social Security COLA will be offset by Medicare premium rollercoaster

Retirees can look forward to the largest Social Security cost-of-living adjustment next year since 2012 – but don’t break out the champagne just yet. For many, higher Medicare premiums will take a big bite out of their raise. The 2018 Social Security cost-of-living adjustment (COLA) will not be announced until October, but inflation trends point […]

Yes, disability really is a part of Social Security

Quiz time: what do the letters “SS” stand for in SSDI? If your answer is “Social Security,” congratulations. You know that Social Security Disability Insurance is part of Social Security. That seems obvious, but the Trump administration wants you to think otherwise. “If you ask 999 people out of 1,000, (they) would tell you that […]

Ready, set, go: New fiduciary retirement advice protections are here

Friday is the day, folks. Starting on June 9, all financial advisers providing guidance on retirement accounts must adhere to the new U.S. Department of Labor rule requiring that they act in your best interest rather than their own. The controversial rule survived a bruising seven-year battle against entrenched interests in the financial services industry, […]

Working longer: Good aspiration, but not a plan

Many older Americans, asking how they’ll be able to afford retirement, have settled on an answer: Work longer, or never stop working at all. Working longer can make sense as a way to mitigate the risks of rising longevity and declining guaranteed income from pensions and Social Security. Adding even a few years of work […]

Watchdogs step up fight against elder financial fraud

Thieves follow the money, and wealth accumulates as we age. But the aging brain is not always well-suited to financial decision-making – and that creates opportunity for financial fraud and abuse targeting the elderly. “It’s a perfect storm,” said Elizabeth Loewy, general counsel for Eversafe, a technology firm that monitors customers’ bank and investment accounts, […]

One problem with delayed Social Security claims: Risk of higher Medicare Part B premiums

Delaying your Social Security benefit as long as possible is a great way to boost retirement income, but the strategy comes with one built-in downside. Most seniors enroll in Medicare at 65, but those who are not yet receiving Social Security run the risk of much larger annual increases in their Part B premiums. Healthcare […]

Behavioral economics works for retirement saving; let’s try it in the states

How to get people to save for retirement? There are two schools of thought: cajole and educate, or give people a little push in the right direction. Pushing has been ascendant over the past decade for a simple reason: it works. Fueled by “behavioral economics” – which focuses on the psychological and emotional factors in […]

Retirement rankings? They’re all over the map

What’s the best place to live in retirement? New Hampshire boasts low taxes and a vital cultural climate. Mexico has warm weather and a low cost of living. The Provo-Orem metropolitan area of Utah, with about 115,000 residents, promises an outdoorsy lifestyle, proximity to Salt Lake City and plenty of opportunities to take classes at […]

Future of retirement planning belongs to the cyborgs

Who will help you plan for retirement – a robot or a cyborg? Pundits have been saying for some time now that the future belongs to robo-advisers – automated portfolio services that use algorithms to manage investments. The robo-services have attracted interest as a way to deploy low-cost advice, but retirement planning guru Michael Kitces […]

Income Annuity Decision: Start Now or Wait Until Later?

Fewer workers expect traditional pensions when they retire these days, yet most also are acutely aware that longevity is rising–and that they run the very real risk of running out of money at an advanced age. These concerns have boosted awareness of the importance of optimizing Social Security and have sparked growth of a relatively […]

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