Social Security
The Social Security trust fund is now expected to be depleted by 2034, according to a recent report from the Social Security and Medicare trustees.[1] That’s one year earlier than they reported last year, and the pandemic is to blame. Less was collected in payroll taxes when unemployment was high, and more people claimed benefits. […]
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Inflation is on the rise, and Federal Reserve Chairman Jerome Powell recently testified to Congress regarding the Federal Reserve’s commitment to controlling inflation. He admitted that inflation is “well above target” but didn’t indicate any major changes in Fed policy in the near future.[1] Retirees may need to be concerned about inflation, which can eat […]
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You’re used to receiving a paycheck, and perhaps you’ve been used to it steadily increasing over the course of your career. You may have experienced what’s known as “lifestyle inflation” and may not plan to downgrade in retirement. Whatever the case, it’s important to know where your retirement income will come from. It could come […]
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Today’s retirees may be the richest the world has ever seen with Baby Boomers holding more than half of U.S. household wealth as of the end of 2020.[1] While you may be looking forward to traveling, working on your golf game, or retiring early to enjoy more free time, you first have to overcome some major […]
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