Creating Effective State-Sponsored Retirement Plans

By Gary Koenig, Vice President, Financial Security, and David John, Senior Policy Adviser, Financial Security State-sponsored retirement savings plans can help private-sector workers not covered by employer plans build financial security. How many workers? More than you might think. In 2013, about 55 million private-sector employees did not have access to a retirement plan at work, including more than 7 million in California, 2 million in Illinois, and about 1 million each in Indiana and Maryland. Research shows that middle …

7 Social Security Quirks You Should Know

Note: Join AARP expert Jean Setzfand today, Friday, October 24, from 2 to 3 p.m. ET for a live Facebook Chat with Yahoo! Finance about Social Security claiming and ask Jean or another expert your own question here: https://www.facebook.com/yahoofinance. See Setzfand’s advice in a story from Yahoo! Finance just posted today as well: http://finance.yahoo.com/news/3-ways-to-boost-your-social-security-benefit-163853751.html. As I travel and talk with folks about planning for their future, “when to claim Social Security benefits” is, hands down, the most frequently asked question …

Social Security Benefits to Rise 1.7% Next Year

Social Security benefits will rise by 1.7 percent starting in January, the Social Security Administration announced Wednesday. That’s a tad higher than this year’s 1.5 percent increase. It’s also the fourth straight year that the cost-of-living adjustment was below 2 percent for nearly 59 million retirees, disabled workers and their families. The adjustment amounts to about $22 a month for those who receive the average monthly benefit of $1,302. >> See AARP CEO Jo Ann Jenkins’ statement on the COLA “The …

8 Year-End Tax Moves to Make Now

As we enter the home stretch of 2014, it’s time to consider some tax moves. Here are a few you might want to consider: Give to charity. For those who itemize, making a charitable contribution could lower your taxes. Rather than just giving cash, consider giving your most highly appreciated securities. You usually will get a deduction equal to the full value of the securities and will not have to pay a capital gains tax. Max out your 401(k). Those over …

In Thailand, Retirement Is Not Always a Choice

Pa’ Noi manages the neighborhood restaurant that my boyfriend, Joe, and I love here in Thailand, where I’m doing part of my master’s program in gerontology. When we arrive, she greets and seats us, and patiently waits as we, the farangs (Thai for “foreigners”), fumble through our orders. When we finish, she brings us our check and our change, and she inevitably beats the busboys to a first swipe at our table. Pa’ Noi is 71, and she’s great at …

Free Financial Advice? What’s Not to Like?

Need financial advice on estate planning, retirement savings or something else? You can get it for free. From Sept. 27 through Nov. 8, hundreds of financial planners will be available to meet one-on-one with people in 25 cities in an annual event called Financial Planning Days. The initiative, in its fifth year, is sponsored by the Certified Financial Planner Board of Standards, the Financial Planning Association, the Foundation for Financial Planning and the U.S. Conference of Mayors. >> 8 Hidden College Expenses Financial …