Mutual Funds

Economic Security Planning, Inc. Today’s column addresses questions about whether filing for retirement benefits will mean an end to spousal benefits, whether filing for divorced spousal benefits at 62 would affect retirement benefits and what happens to the money a person paid into Social Security when they die. Larry Kotlikoff is a Professor of Economics

Thus far, the risk pooling discussion has focused on annuities. Another form of risk pooling for longevity is available through life insurance, and this chapter* explores the ways that life insurance can potentially be incorporated into lifetime financial planning. This discussion is mostly about whole life insurance in comparison to term life insurance, but other

By Richard Eisenberg, Next Avenue Andrew Saul Andrew Saul In recent years, the Social Security Administration had a pretty lousy — and worsening — reputation for customer services. Nearly 125 of its field offices were shuttered and hold times on the agency’s 800-number line were often infuriatingly long. Then Andrew Saul was sworn in as

getty With the markets reacting to the recent Presidential election, now might be the perfect time to explore the option of rolling your current or former employers’ 401(k), 403(b), or profit sharing retirement plan to an Individual Retirement Account (IRA). There can be some major benefits to rolling your 401(k) plan into your IRA, but

The old 4% drawdown formula is now hazardous. Try 3%. Security getty Lucky you, to be retiring today, when your retirement assets are so richly valued. But not as lucky as you think. Rich stock and bond prices help only so much. The big question for someone living off savings is how much can be

Economic Security Planning, Inc. Today’s column addresses questions about whether a spousal benefit should always be half the other spouse’s retirement benefit, whether the Windfall Elimination Provision applies to spousal benefit and how divorced spousal benefit rates are determined. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of

Despite CDC warnings urging us not to travel, millions of people will still be visiting with their families this Thanksgiving. Yes, it’s high risk. Yes, aging parents are more likely to get seriously ill if exposed to Covid-19 from a family member who carries the virus without feeling any symptoms. Nonetheless, families may choose to

How to invest money for beginners can be confusing at best. It’s an important decision with long-term consequences, and everybody seems to have an opinion on the “best” approach. In this article we’ll turn down the noise and listen to the one voice we can trust—Warren Buffett. NEW YORK, NY – SEPTEMBER 19: Philanthropist Warren

The logo of the US Social Security Administration is seen outside a Social Security building, … [+] November 5, 2020, in Burbank, California. (Photo by VALERIE MACON / AFP) (Photo by VALERIE MACON/AFP via Getty Images) AFP via Getty Images Just in time for Joe Biden to carefully scrutinize — or toss into the circular

The Ohio Retired Teachers Association (ORTA) recently voted to raise funds for a forensic audit of … [+] the $80 billion State Teachers Retirement System of Ohio. getty The Board of Directors of the Ohio Retired Teachers Association (ORTA) recently voted to raise funds for a forensic audit of the $80 billion State Teachers Retirement

Economic Security Planning, Inc. Today’s column addresses questions about when it’s possible to file for spousal benefits, who can still file restricted applications for spousal benefits only, divorced spousal benefits after early retirement benefits and eligibility for disability benefits close to full retirement age. Larry Kotlikoff is a Professor of Economics at Boston University and

getty Medicare premiums and other costs will increase in 2021, the Centers for Medicare and Medicaid Services (CMS) recently announced. But the CMS reported earlier that premiums for the private sector version, Medicare Advantage plans, will decline for 2021. The basic monthly premium for Part B, which covers most doctor’s services and similar non-hospital care,

I talk a lot about Roth 401(k)s and IRAs in articles, podcast episodes, and even client meetings. … [+] Generally, that message is for someone in their early 20s who is new to the corporate world and probably not making a lot of money. getty I talk a lot about Roth 401(k)s and IRAs in

By Richard Eisenberg, Next Avenue Raymond Jetson Next Avenue Raymond Jetson’s passion, which led him to be a 2020 Influencer in Aging, is motivating older Black men to mentor Black youth and young adults. The pandemic’s brutal impacts on the African American community have only intensified Jetson’s efforts. “It exacerbated the inequities that we reflect

Many people approaching their retirement years will need to be resilient and resourceful. getty An acquaintance in her early 60s was proud that she had saved $100,000 towards her retirement. In her case, it was a terrific accomplishment, since she’s a single mom with moderate income. She asked me for suggestions to help her plan

getty Year-end tax strategies are common and impactful tools to help you leverage the tax code and better plan for your future. Using concepts like Roth conversions, charitable giving, tax loss harvesting, minimizing capital gains, and making sure you maximize all possible savings to tax deferred accounts can all be helpful in maximizing your savings. This year

If you’re considering early retirement, you’re in good company. COVID-19 has been a catalyst for older Americans to leave the workforce voluntarily due to their high risk of infection. Quitting a job poses financial challenges for early retirees who suddenly have fewer years to accumulate assets and more years to live without a regular paycheck.

getty Have you seen it? It’s kind of hard to miss. The stock market has been acting “unusual” in many ways these past two weeks. It may be signaling a harbinger of things to come. There’s a significant difference between market volatility and market rotation. In the former, most recently experienced this past March, the

If you are the parent of a college student who does not file a tax return and whom you are not claiming as a dependent on your tax return, there is an important deadline looming.  This Saturday In order to receive an Economic Impact Payment of $1,200 from the U.S. Treasury, the student needs to

Economic Security Planning, Inc. Today’s column addresses questions about whether — and when — severance and paid time off count as wages under Social Security’s earnings test, some potential effects of filing early and some requirements for divorced spousal benefits to be paid. Larry Kotlikoff is a Professor of Economics at Boston University and the

What will retirement look like for those trying to live on just Social Security Benefits? getty There are people out there who can survive on Social Security alone. Maybe they have always been living on a small income. Perhaps, they have paid off a home or have other ways to live frugally. For the rest of

getty Readers, I have been remiss. I have been watching reports of major pension funds overseas divesting from fossil fuel corporations, and have been placing the topic on my to-do list, intending to share this development with readers “someday.” Last year in Norway, for instance, the $1.6 trillion Government Pension Fund Global will divest from

By Next Avenue Editors Next Avenue For the past six years, Next Avenue — public media’s first and only national journalism service for America’s older population — has released a list of “Influencers in Aging.” We’ve named 20 trailblazers who are each uniquely changing how we age and think about aging. This year’s list includes

Peter Mallouk, President & Chief Investment Officer of Creative Planning Photo courtesy of Peter Mallouk Peter Mallouk knows how to make a good investment. In 2004, Mallouk bought Creative Planning, a Registered Investment Advisory firm based in Overland Park, Kansas that was managing $30 million; this year, the firm crossed $50 billion in assets under management. Mallouk

WILMINGTON, DELAWARE – NOVEMBER 16: President-elect Joe Biden delivers remarks about the U.S. … [+] economy. (Photo by Joe Raedle/Getty Images) Getty Images An amazing thing happened in this year’s presidential election. A major party candidate proposed raising Social Security payroll taxes. And won. More than that, it was never even an issue. What ever happened

Are you tired of renting? Are you considering purchasing your first home? Do you dream of owning a house that can provide both you and your family a sense of stability and community? For many Americans, home ownership is an important part of the American dream. Being a homeowner means having a space to call

getty Out-of-control medical expenses are one of the greatest fears of retirees and pre-retirees. Many people are concerned that high medical expenses could deplete their nest eggs . But most people can put a lid on how much they spend out of pocket on retirement medical expenses, and there are a couple of tools that

getty Reformers have long bemoaned the manner in which poor workers pay too high a “marginal tax rate” when both “regular” taxes and government benefit phase-outs are combined together. A recent article at Accounting Today summarized the situation: “About a quarter of lower-income workers effectively face marginal tax rates of more than 70 percent when

By Chris Farrell, Next Avenue Getty Images The upcoming Joe Biden-Kamala Harris administration’s immediate challenges are obvious: Fight the worsening pandemic and bolster the economic recovery. But the 2020 election may also mean that older Americans will see major policy changes affecting their retirement and health care coverage. In fact, legislation to improve retirement security

New nationwide poll shows 1 in 3 people over the age of 65 think they can just “snap out” of their … [+] depression. getty A new national poll found that almost two out of three Americans age 65 or older who are worried about having depression won’t go get treatment and a third believed