The United States Census Bureau issued a report back in 2010 that contained some data that is very relevant to those who are interested in elder law, retirement planning, and estate planning. Your anticipated longevity is going to be a very important piece of information to work with when you are attempting to come up with a budget for your retirement years. And of course, if you have specific ideas regarding what you would like to be able to do for your loved ones after you pass away this is … [Read more...] about Take Increasing Longevity Into Account When Planning Ahead
As we all know employment markets have been tight over the last several years, but Americans have a tendency to find a way. There has been an increase in the number of people who are self-employed, and this can be an option for those who are willing to take matters into their own hands. Economic Modeling Specialists International has stated that there has been a 14% increase in the number of people who work for themselves for the most part between 2001 and the present time. There are some … [Read more...] about Self Employment & Retirement Planning
We would like to take a look at three of the most commonly asked questions regarding the Social Security program. How Much Will I Get? The way to find out this information is to sign up on the Social Security Administration website and view your personal statement so you can gain an understanding of approximately what you can expect to receive when you qualify for benefits. You can then use this projection to help you gauge exactly how much supplementation is going to be necessary. When Can I … [Read more...] about Answering Top Three Social Security Questions
When you want to be prepared for the future starting and contributing into an individual retirement account can be a good idea. In addition to an IRA's use as a way to generate resources for retirement such an account can also be a good estate planning tool if you want to gain tax efficiency as you set aside resources for the benefit of succeeding generations. You may begin contributing into a traditional individual retirement account with the expectation of needing these funds yourself … [Read more...] about The Benefits of Stretching an IRA
The goal that most people have while they are traversing their career paths is to be able to retire someday and do so in comfort. When you work to support your family over the decades you invariably have limited spare time. As a result a lot of things that you would like to do probably have gone undone. The objective for many is to be able to have these experiences once they retire. This is easier said than done. The income that is derived from Social Security is limited, and this alone is not … [Read more...] about Are You Drifting or Building?
You must have a thorough understanding of the benefits that are available to you when you are planning for retirement as a military veteran. Most people are aware of the fact that you are entitled to a retirement pension after 20 years of service. If you do retire after serving 20 years your pension benefit will be based on a percentage of your base pay. The longer you stay in the higher the percentage will be when you do begin to draw your pension benefit. After 40 years of service you would … [Read more...] about Survivor Benefit Plan Protects Spouses of Military Retirees
There are intestacy rules of succession in place that would hold sway if you were to pass away without having executed any estate planning documents. Most people are going to have more specific designs so it is not a good idea to rely on the probate court to distribute your assets in accordance with intestacy laws. However, if you are married your spouse would be provided for under these laws. But if you are in a committed live-in relationship with someone without being married this individual … [Read more...] about Senior Lifestyle Trend Has Estate Planning Implications
Retirement planning is integral for serious minded individuals who want to be able to enjoy a certain modicum of financial security during their senior years. Putting yourself in a position to be able to pay your way for perhaps a couple of decades or more without working can require some long-term financial discipline as you act within an intelligently conceived framework over an extended period of time. In order to be able to reach your objectives you must accurately project your future … [Read more...] about Paying Property Taxes Can Be Challenging for Some Seniors
People sometimes decide that they would like to continue working even after they reach the age of Social Security eligibility. Some simply enjoy their work and they see no real reason to step away. Others continue working out of financial need. If you do not want to be forced to work as a senior citizen you would do well to engage in some intelligent retirement planning. When you work up a cogent plan for the future with the assistance of a good South Carolina financial planning attorney you … [Read more...] about Is There a Penalty for Working While Receiving Social Security?
The Social Security rolls are swelling these days as the baby boomer generation reaches the age of eligibility. As more and more people start to receive their Social Security benefits the cost of administering the program is going to continue to rise as well. Providing income is not the only expense. At the present time 10% of people who are receiving Social Security are getting paper checks in the mail each month. Given the high volume of recipients overall the cost of sending out these checks … [Read more...] about Paper Check Option Being Eliminated by Social Security Administration