Social Security is the largest social safety net program in America; for 2012 total expenditures were $786 Billion. When talking about Social Security most people refer to the retirement benefits, however there are two other important parts to Social Security, survivors benefits and disability benefits. Social Security stopped sending automatic …
I’m working in New Jersey right now, just a bit down the road from Philadelphia, and in my google news browser the article “Rampant overtime spikes city employees pensions in Philadelphia” popped up and spiked my interest. What is Pension Spiking? For certain municipalities, increasing overtime greatly increases pensions. In …
Many company retirement plans offer a 401K match, and allow employees to contribute anywhere from 1% of their pay up to 75% of their pay. The match is given every week that the employee contributes. There are two ways to miss out on the company 401K match, by not contributing …
It seems that many advisers are questioning if $1 million is enough money for a comfortable retirement. At the same time, they keep selling the “necessity” of having 75-85% of your current income to retire. I think that both of these notions are incorrect for most people. For someone earning $100,000 …