Taking full advantage of employer 401(k) or other retirement benefits will continue to be vital to successful retirement planning as reduced social security benefits becomes more likely the longer Congress waits to take action. A U.S. Government report compiled and released by the Government Accountability Office (GAO) found that 48 percent of individuals 55 and older had no retirement savings …
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 …
38% of Social Security Recipients Regret Starting Early*
Once you begin receiving your Social Security income benefits, it can be very expensive to change your start date.** It is a good idea to put in a lot of thought, and perhaps even a pencil to paper, before making the final choice. You can either receive a permanent 25% cut or a 32% increase, depending on when you choose …