En español | On the morning of Aug. 14, 1935, Americans awoke in a country vastly different from the one we know today. The Great Depression had brought us to the point where, in the words of President Franklin D. Roosevelt, “one-third of the nation [was] ill-housed, ill-clad [and] ill-nourished.”
En español | As Social Security celebrates its 80th birthday, the program remains as popular as ever among all age groups, although some people are skeptical and confused about its long-term financial outlook.
The U.S. workforce has been turned on its (graying) head. New research finds that workers at or near retirement age are taking up a bigger share of the labor pool - a trend that's driven mainly by women. And in this ever-evolving jobs landscape, older men and women are projected to be working more in the next decade.
How much in retirement savings do I need for a secure retirement? Is $100,000 enough? How about $700,000? Even more importantly, how much monthly income can I count on those savings providing to supplement my Social Security benefits?
The Social Security benefit cut known as Chained CPI remains a piece of the deficit puzzle for reasons that baffle conservatives, veterans, progressives, and almost everyone in between. The $85 billion in sequester cuts for 2013 have begun and many in Washington have still said they're willing to cut the modest Social Security benefits we've earned by $127 billion over 10 years, even though Social Security by law remains separate from the budget and its deficit. Let's give every woman and anyone who has or has ever had a mother, sister, daughter, grandmother, aunt or girlfriend a reason to despise this wretched proposal.
Retirement may be a stone's throw away for older boomers but a survey finds that many are in the dark about how much it'll take to fund their golden years.
In 2011, the number of Americans taking early Social Security benefits dropped to a 35-year low, according to a new report from the Urban Institute. For the second consecutive year, those taking benefits fell (to 27% of the number of eligible older adults). That's down from 31% in 2009, reestablishing a 12-year downward trend interrupted only by the recent recession.
If you're worried about outliving your retirement savings, consider this: Don't withdraw more than 6 percent annually from your employer-sponsored 401(k) or 403(b) plan. Take more than that and you could be tempting fate. That's the harsh conclusion from the Institutional Retirement Income Council, a nonprofit think tank that looked at several strategies for new retirees.
Determining whether retirement savings withdraws are taxable, partially taxable or tax-free can be difficult. A lot of retirees get it wrong"”and the federal government is doubling down on efforts to correct them.
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