Policymakers have been talking on and off for decades about ways to make Social Security solvent and adequate. However, the conversation often seems stuck in the 1980s, the last time Social Security was addressed, with a small set of policy tools to raise revenue or cut benefits being recommended by each politician or group.
When I tell people I work for AARP, one of the first things they do is talk to me about their retirement plans, and often in terms of when they retire. More and more, however, I’m hearing about the kinds of plans they have if they retire .
By midnight on April 18, millions of Americans will have hit the File button in their tax preparation apps or dropped their tax returns in the mail. With 2017 tax season almost behind us, it’s a good time to take a look at taxes as they relate to Americans over 50 — specifically, older Americans’ impact on the federal coffers as well as the impact taxes have on their own wallets. And there’s another reason to look at this issue now: In the coming months, tax reform promises to be a hot topic of discussion in Washington, D.C.
If you have protection against future catastrophic out-of-pocket costs for basic life functions, consider yourself lucky. The vast majority of people in the United States don’t.
Many of us understand that saving for retirement and for the long term is one of the most important actions you can take to ensure a secure future. So is protecting that savings.
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