Where Will Your Retirement Money Come From? For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security Social Security is the government-administered retirement income program. Workers become eligible after paying Social Security taxes for 10 years. Benefits are based on each worker’s […]
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Important Birthdays Over 50 Tip: Average Benefit. In the beginning of 2014, the average monthly Social Security benefit for a retired worker was about $1,294. Source: Social Security Administration, 2014 Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half“ to make sure everyone knows they’re closer to the next age than the […]
“Audit” is a word that can strike fear into the hearts of taxpayers.However, the chances of an Internal Revenue Service audit aren’t that high. In 2013, the IRS audited 1.0% of all individual tax returns.¹ And being audited does not necessarily imply that the IRS suspects wrongdoing. The IRS says an audit is just a […]
American educational reformer Horace Mann called education “the great equalizer.”¹ In football, it’s been said that turnovers are the great equalizer. And anyone who’s ever watched CBS’s “The Amazing Race,” knows airport delays are the great equalizer in a race around the world. In taxes, there’s also an equalizer of sorts; it’s called the alternative […]
According to the most recent information available, Americans had individual life insurance with a total face value of $11.2 trillion.1 Due to a variety of factors, these individuals may find themselves in circumstances where the specific life insurance policy or annuity contract they own does not suit their needs.2 They may want to exchange products […]
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Most parents want to give their children the best opportunity for success, and getting into the right college may help open many doors. A recent study by Georgetown University found that 63% of marketable jobs in 2018 will require post-secondary education.¹ Unfortunately, being accepted to the college of their choice may not be as easy […]
Some people approach buying a car like they approach marriage, “till death do us part.” Others prefer to keep their options open, trading in every few years for the latest body style, the hottest technology, or the highest horsepower. Whichever describes you best, we all face a similar decision when it comes to acquiring a […]
You taught them how to read and how to ride a bike, but have you taught your children how to manage money? One study of undergraduates found 60% of college credit-card holders experienced surprise when told how high their balance had reached—and 40% admitted to charging items they knew they couldn’t pay for.1 For current […]
Although 90% of women say they are the chief bill-payer and shopper at home, more than 70% believe they are behind schedule when it comes to saving for retirement.1,2 And a full 60% say they haven’t tried to calculate how much they need to save in order to live comfortably in retirement.3 These figures suggest […]