Economic Security Planning, Inc. Today’s column addresses questions about applying for spousal benefits only while delaying retirement benefits, when someone can become eligible for retirement benefits and how filing for widow’s benefits at 60 affects the amount of the benefit. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president
Retirement
Snow birds escaping winter and vacationing on tropical beach paradise. getty Tens of thousands of older adults head to warmer climates for the winter. As hips and knees begin to wear out, arthritic joints make shoveling snow an agony, and icy sidewalks become a fall magnet, heading south, for many, is as much a necessity
By Richard Eisenberg, Next Avenue getty Having trouble managing your finances, research has shown, can be an early sign of cognitive difficulty and even dementia. But two fascinating recent studies suggest how important it can be to your mental health and your wallet to keep up your financial literacy and your confidence about it as
One key to success when diversifying your investment portfolio to include property overseas has nothing to do with purchasing property overseas. It has to do with your exit. Here are eight strategies and tips for selling for maximum return when the time comes. Resale Tip #1: Don’t Buy Common iStock.com/Suwaree Tangbovornpichet As the adage goes,
Economic Security Planning, Inc. Today’s column addresses questions about when you can submit your application to begin benefits, Social Security’s earnings test, working part time while receiving disability benefits and what happens to money paid in Social Security taxes but not collected. Larry Kotlikoff is a Professor of Economics at Boston University and the founder
When, and how, to apply for PPP Loan forgiveness. Getty The Paycheck Protection Program (PPP) was a huge component of the CARES stimulus package aimed at helping smaller businesses and non-profits stay afloat in the beginning of the pandemic. The program was fraught with administrative changes and nuances, but nonetheless 5.2 million loans were granted
Large green wave breaking in ocean getty At about the time the first baby boomers were entering their 60s, the term “silver tsunami” started being used by demographers, economists, and others who were concerned about the shifts in human population. At that time, it was being used to warn us that there would be a
Car wash owner in Baja California, Mexico Chuck Bolotin An American citizen client we recently moved to Mexico reported to me with sadness that his son told him that because my client was no longer living in the US, my client was no longer “an American.” This is not an uncommon accusation and one that
Get Forbes’ top articles on pressing issues that matter to your financial well-being—personal finance, investing, taxes and retirement—delivered to your inbox every week. Target was closed on Thanksgiving and is making Black Friday look different this year. Getty Images Prospects for a peaceful presidential transition seem to have pleased the market gods with both bitcoin and
getty How much do we need? A very common question we receive from aspiring retirees as they are deciding when to stop working and start the next chapter of their lives. As you can imagine, that number can be very different from person to person depending on a variety of factors. First, your plan needs
Can you really get a Medicare giveback from a Medicare Advantage plan? getty A friend forwarded me an ad he saw online. The headline read, “Seniors over 65 are getting huge benefits this year. See if you qualify for $144 a month.” How can I get this? he wondered. Another friend asked whether I saw the commercials
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 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
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
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
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
Holiday Zoom calls can be a great time to share lessons learned about retirement planning. getty Will you be Zooming during the holidays with your older relatives and friends instead of getting together in person? Wondering what you’ll talk about? It can be unsettling to be face-to-face on the screen with anybody for a long
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