Three Big Wins for Retired People in New Budget Act

Budget Act Safeguards Social Security, Medicare for Older Americans – AARP  People of retirement age and their families scored three significant victories in the budget act passed by Congress. 1. We preserved every cent of current Social Security recipients’ benefits. Millions of Social Security recipients were …

Not Ready to Retire – Keep these things in mind!

Dear Carrie, I’m turning 65 and am still working. I have no immediate plans to retire, but I’m wondering what I need to know as I navigate through this transition over the next few years. Dear Reader, Your question raises very important issues. As workers, we Baby Boomers have spent decades building our nest …

Why a High Income Can Make It Harder to Save for Retirement

Q: My employer’s 401(k) plan considers me a “highly compensated” employee and caps my contribution at a measly 5%. I know I am not saving enough for retirement. What are the best options to maximize my retirement savings? I earn $135,000 a year and my wife makes $53,000. – E.O., Long Island, NY A: It’s …