Retirement Watch Weekly
Social Security Underpays Beneficiaries
About 450,000 beneficiaries were underpaid $500 million since 2008 by Social Security, according to an Inspector General audit. More than 85% of those beneficiaries were identified in a 2008 audit, but the SSA didn’t take corrective action. These were not errors discovered by beneficiaries but are errors uncovered by SSA’s internal system. But the systems […]
Hype About “Secret Estate Planning Accounts” Exposed – Cash Value Life Insurance
Let’s begin the year by revealing the facts behind some rather questionable marketing pitches for Estate Planning. Have you heard of the Secret 770 Account? The President’s Account? What about Banking on Your-self® or Infinite Banking? Becoming Your Own Banker, The Personal Bank, or The Retirement Miracle? If you read financial publications, especially online, you […]
Filling the Biggest Hole in Your Retirement Health Care
The biggest gap in your retirement medical insurance probably is one you hardly think about and that gets little attention. Among the many needs not covered by Medicare is dental care. You also won’t find dental coverage in Medigap (Medicare supplement) policies. Unless problems with your teeth and mouth are related to an accident or […]
Winning IRA Strategies for 2015
Too many people leave money on the table when managing their IRAs. There are a lot of decisions to make, and the wrong choices can result in higher taxes or even penalties. That’s a shame, since IRAs are among the most valuable assets most people own. Resolve this year to review the IRA strategies discussed […]
Closing the Door to Your Greatest Fraud Risk
Your greatest risk of being scammed or having your identity stolen might be one you don’t suspect. The big headlines are generated when information thieves access the databases of major retailers or other well-known businesses. But the headlines are behind the times. Medical records are the latest hot target of information thieves. A medical record […]
January 2015
January 30, 2015 04:25 p.m. Your Retirement Finance Week in Review Next week I’m going to be at the World MoneyShow in Orlando, Fla. So, I might not send a weekly review, or it might come at a different time than usual. If you can’t make it to the MoneyShow, you still can catch one […]
Facts and Myths About Social Security
Almost everyone has a Social Security number and is eligible for Social Security benefits. Yet, survey after survey indicates people know little about the program and their benefits. Also, much of what people think they know is wrong. Let’s took a look at some key misunderstandings and oversights about the program. Understand benefit statements. The […]
Four Strategies for Secure Retirement Income
William Baldwin of Forbes looked for ways to generate $40,000 annually for 25 years, taking very low risk. All the strategies work, though some are harder to implement than others. Of course, the costs vary. One point to consider is that there’s no inflation protection. Another point is that the cash flow isn’t all income […]
