For all but the ultra-wealthy, Social Security benefits will play a part in your retirement cash flow planning. Under its original design, it was meant to replace about 1/3 of the average persons retirement cash flow needs. Without proper planning it may end up being a larger piece of one’s retirement income. As retirement approaches, estimating income for the retirement …
The Secure Act – Key Provisions Affecting Retirement & College Savings Plans
There are a few new rules and numbers to keep in mind regarding retirement plans as legislation passed by Congress 2020 includes changes affecting millions of American retirees. The Setting Every Community Up For Retirement Enhancement Act, known as the SECURE Act, was signed into law by the president on December 20th. Provisions of the law are intended to facilitate …
Senior Bankruptcy – Retirement Planning
November 2018 The rate at which seniors file for bankruptcy has more than tripled since 1991 amid reductions in retirement and benefit payments. Of the people that are filing for bankruptcy each year, 12.2% are aged 65-74 versus 2.1% for the same age group in 1991. Adding to financial burdens, the age at which full benefits are paid by Social …