Social Security is facing a big problem. In eight years, the program will have only enough funds to send recipients 76% of their promised benefits. Imagine a retiree currently receiving $1,000 in monthly benefits suddenly getting just $760 per month. That 24% cut in income would be devastating to many. Senator Bill Cassidy (R-La) believes […]
Bill Cassidy’s “Big Idea” Read More »
I am routinely asked, “Is the U.S. headed for a financial crisis? And, if so, what can we do to get ready for it?” I get the feeling some questioners expect me to reply, “Buy 40 acres and some livestock, plant a garden, and stock up on gold and ammunition.” While that isn’t what I
Three Challenges Facing America Read More »
On a regular basis, people come to me and say some version of: “Do I really need disability insurance? I mean, I have a desk job, and as long as I have my mind, I can always do my work, right? Besides, wouldn’t my employer’s workers’ compensation insurance take care of my basic needs if
The Truth About Disability Insurance Read More »
No, I’m not a prophet. But since people regularly ask me, “Will Social Security and Medicare still be around when I retire?” let’s explore that question. One of my clients lives abroad. I only see him about once a year. At our last visit, I was shocked at how much he’d trimmed down. “You’re not
Are Social Security and Medicare Running Out of Money? Read More »
Don’t you “love” it when you forget to buy something at the grocery store? So often I get nine of the ten things I was supposed to buy, but there’s always that one item I don’t remember until I get home. “Seriously? You forgot the tomatoes? How am I supposed to make spaghetti sauce without
Checklist for 60-Somethings Read More »
“I wish I had all the money I’ve paid into Social Security. I’d be rich.” Over the years, I’ve had one or two (hundred) folks say something like that to me. Recently I got so curious, I decided to run the numbers. On myself. (By the way, did you know you can go to the
About that Money You’ve Been Paying Social Security Read More »
How much income will you need in retirement? Here’s an eight-step plan for figuring that out. 1. Start with your current income. As an example, let’s assume you make $100,000 annually. 2. Assume some inflation. No one knows what inflation rates will be between now and your retirement. What we do know is that postage
Will Your Retirement Income Be Enough? Read More »
Some people collect baseball trading cards. Other people collect antique books. I collect Social Security statements. Mine. Yes, I am that boring. The oldest one I’ve got dates back to 2003, so I’ve got almost 20 years’ worth of Social Security (SSA) statements. But they contain my work records all the way back to the
How Secure is Your Social Security? Read More »
“Should I refinance my house and get a 30-year mortgage? Is that crazy?” She was nearly 65 and had a six-figure mortgage attached to her house. She was single and had a good income as a nurse. But as she looked ahead, she could see trouble coming. “I make nearly $5,000 per month now, and
Retire Debt in Retirement Read More »
Wouldn’t it be nice to work at one of those places that offered big-time retirement perks? I mean the kind of employer that promises to send you millions of dollars over the course of your retirement. Guaranteed. You might be closer than you think. When it comes to retirement, attitudes naturally change as we get
Social Security: Attitudes Alter with Age Read More »
Speak with an Advisor