Social Security and Medicare Woes

Posted by cameron

March 26, 2008 | Leave a Comment

We all know there are problems looming in both programs so yesterday’s annual press release, or announcement, concerning future shortfalls should come as no surprise. Treasury Secretary Henry Paulson basically stated that Social Security will only be able to pay 78% of benefits by the year 2041. Medicare comes sooner with a payout of 78% […]

The Next President and Senior Citizens

Posted by cameron

January 28, 2008 | 1 Comment

Although not yet a “Senior”, like millions of others, I will become one during the next Presidency. There are many important issues but the fate of Medicare and Social Security will likely be managed by the next President. For this reason I pay particular attention to this topic. In previous posts I have mentioned that […]

Pension Benefits for Women

Posted by maureen

November 16, 2007 | Leave a Comment

Despite the fact that most women contribute to the family income and have either 401K programs, pensions and social security benefits or a combination of all three, they often leave the financial decisions to their spouse. Many times a spouse will take action on his pension and, although current law requires spousal permission before […]

Barack Obama On Social Security

Posted by cameron

September 24, 2007 | Leave a Comment

In previous posts I have complained that Presidential candidates are not speaking to me about concerns I have for the future of Social Security for my children and me. Today I will say that Barack Obama has become the first. In this past week Senator Obama announced a proposal on tax relief for retirees that […]

Social Security Gov Retirement Benefits

Posted by cameron

September 17, 2007 | 1 Comment

This weekend I checked out the Senate Special Committee on Aging. I wanted to know what they are doing about Social Security, with emphasis on security. I’ll bet most people don’t even know it exists let alone what it does or achieves. They have a website where hearings can be watched on web casts. I […]

Social Security Benefit

Posted by cameron

September 4, 2007 | Leave a Comment

Did you read your social security benefit statement? I don’t know why I hadn’t noticed this before but there is an interesting little footnote to the benefits notice. I suspect that most people never get past the estimated benefits section. Right at the bottom of that section is a warning in bold letters. It reads, […]

Calculator-Planning-Retirement

Posted by cameron

August 27, 2007 | 1 Comment

We are all interested in free retirement planning tools and retirement calculators in particular, so I decided to provide a list of the ones I am aware. Having experienced some of the online calculators and those you can pickup on CD I personally decided to create my own spreadsheet but for those planning for the […]

Social Security and Disability

Posted by cameron

July 8, 2007 | Leave a Comment

I noticed on my Social Security statement that if I had a disability I could fast-forward to my full retirement age by effectively receiving a disability check that is almost the same amount as my full retirement age check. Not that I want disability but it did make me curious. What constitutes a disability? After […]

Social Security Tax Trap

Posted by cameron

May 22, 2007 | Leave a Comment

So you get your new statement from Social Security and it projected an increase of approximately 3% this year and 4 % last year. You think you are doing well. Think again. You are slowly but surely sliding into the Social Security Tax Trap. The Social Security payment increases each year when the government takes […]

IRS Retirement Forms and Worksheets

Posted by cameron

March 18, 2007 | 1 Comment

I have pulled together a series of links to important but separate IRS documents because I thought it would be good to have the information in one place.
Traditional IRA
Publication 590 is the core document. The following links drill down inside 590 to the relevant information:
Early withdrawal penalty - applies before age 59 1/2
Minimum withdrawal […]

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