Via Barrons.com By Elizabeth White I never thought it would happen to me. All my life—working at the World Bank, getting my M.B.A. at Harvard Business School, starting my own retail company—I thought of retirement as golfing in Florida (not that I really wanted to). Even after my business failed—taking most of my savings with it—I bounced back. I reinvented myself as a consultant and … Continue reading So, You’re Retired but Don’t Have Enough Money to Be Retired. Now What?
Via CNBC By Maggie Fitzgerald Seniors lose an estimated $2.9 billion annually from financial exploitation, according to the Senate Special Committee on Aging. Impersonating the IRS was the No. 1 scam targeting seniors in 2018. More than 1,500 seniors across the country contacted the committee’s fraud hotline in 2018; however, Kansas Attorney General Derek Schmidt said in recent testimony that only 1 in every 24 … Continue reading (Mid-America Pension Rights Project): Scams cheat older Americans out of almost $3 billion a year.
Via Pensions&Investments By Margarida Correia Employees may leave their jobs but the money in their retirement plans can stay. That’s the thinking among a growing number of defined contribution plan sponsors, particularly those running large plans, recent studies from Alight Solutions and Callan LLC show. With baby boomers retiring, plan sponsors would rather not see their assets “walk out the door” as it could compromise their ability … Continue reading (Mid-America Pension Rights Project): More plans looking to hang on to assets of departing workers
By Denise Keiser, Fund Development Specialist at Elder Law of Michigan Every money goal needs a plan. For example, if your goal is to reduce financial stress in your life this year, having the right budget may be a simple solution. Even if you’re trying to pay off debt or save for a vacation, a budget is the planning tool you need to find success. … Continue reading Achieving Your Financial Goals: Part 2
By Vonda Vantil, Social Security Public Affairs Specialist The idea of applying for Social Security retirement benefits might seem daunting, but it’s not. There’s no need to visit an office. You don’t have to use the phone. We have an online retirement application that you can complete in as little as 15 minutes and from the comfort of your home or office. In most cases, … Continue reading Retire Online with Social Security Quickly and Easily
By Darling Garcia, Director of Community Services at Elder Law of Michigan The Earned Income Tax Credit (EITC) is a benefit for low to moderate income earners where the amount of tax owed is reduced and earners may receive an EITC refund. In a nutshell, to qualify for the EITC, individuals must earn income from working for someone or from self-employment and meet basic rules. There are … Continue reading Earned Income Tax Credit (EITC): Grandparents Caring for Grandchildren
By Denise Keiser, Fund Development Specialist at Elder Law of Michigan When it comes to New Year’s resolutions, there’s no better way to succeed than by setting SMART money goals. SMART is an acronym that is used in many goal-setting scenarios but is commonly associated with Peter Drucker’s Management by Objectives concept. By applying the SMART concept to your money goals, you will be well … Continue reading Achieving Your Financial Goals: Part 1