Help The Middle ClassNews and Information For The Heart Of America
NEW LAW: Social Security Turns ‘Bill Collector’ – Defaulted Loans May Haunt Seniors (Wall Street Journal)
A little-noticed law could soon result in smaller Social Security checks for hundreds of thousands of the elderly and disabled who owe the U.S. money from defaulted loans and other debts more than a decade old.
Social Security benefits are off-limits to creditors, such as credit-card companies and banks. But the U.S. can collect debts to [...]
Retirement Savings In Danger – Most Americans Unprepared (CNN.com)
The percentage of American workers with virtually no retirement savings grew for the third straight year, according to a survey released Tuesday.
The percentage of workers who said they have less than $10,000 in savings grew to 43% in 2010, from 39% in 2009, according to the Employee Benefit Research Institute’s annual Retirement Confidence Survey. That [...]
Senate Rejects $250.00 Bonus For Seniors (Reuters/Los Angeles Examiner)
A measure to give older adults, veterans, and persons with disabilities a $250 check has been rejected by the Senate in a vote of 50-to-47. The payments would have added $13 billion to a $108 billion job-creation package pending in the Senate. Congress approved payments last year as part of the $862 billion stimulus package.
Seniors [...]
5 Reasons You Should Consider a Roth IRA (US News and World Report)
When it comes to opening an individual retirement account, should you go with a traditional IRA or a Roth? Traditional IRAs and Roth IRAs have their own unique benefits, but new rules in 2010 allow some investors who had been locked out of Roth IRAs the option to take advantage of Roth’s tax-free withdrawals. Whether [...]
RETIREMENT NEWS: Top Places To Retire In America (CNBC)
As the Baby Boomer generation begins to hit retirement age, millions will be searching for places to retire. So what’s the best location to settle down? The answer to that question is just as diverse as the needs, desires and expectations of Boomers themselves.
Although certain destinations may be particularly attractive – for reasons ranging from [...]
When To Start Taking Social Security (Yahoo! Marketwatch)
Calculating the best age to take Social Security benefits is tricky, but critical.
Many Americans take Social Security early, at age 62, because they really need it. They’re in poor health or unemployed or both. Others take benefits early because they’re worried they’ll lose out on what’s rightfully theirs if benefits are reduced. But few people [...]
10 Ways To Ruin Your Retirement Plans
Retirement should be a time to relax and enjoy the fruits of a lifetime of labor. Unfortunately, for many people bad decisions push the retirement horizon out of reach. As such, it is imperative that individuals understand the effects of these bad choices and take steps to avoid them. Let’s examine 10 mistakes that can [...]
6 Easy Steps To Retiring With $1 Million
Let’s face it; we all don’t make millions of dollars a year, and the odds are that most of us won’t receive a large windfall inheritance either. However, that doesn’t mean that we can’t build sizeable wealth – it’ll just take some time. If you’re young, time is on your side and retiring a millionaire [...]
Most Babies Born This Century Will Live To 100
Most babies born in rich countries this century will eventually make it to their 100th birthday, new research says. Danish experts say that since the 20th century, people in developed countries are living about three decades longer than in the past. Surprisingly, the trend shows little sign of slowing down.
In an article published Friday in [...]
Early Retirements Strain Social Security System
Big job losses and a spike in early retirement claims from laid-off seniors will force Social Security to pay out more in benefits than it collects in taxes the next two years, the first time that’s happened since the 1980s.
The deficits — $10 billion in 2010 and $9 billion in 2011 — won’t affect payments [...]
