getty Continuing to work after age 62 can affect your level of Social Security retirement benefits, whether you are receiving benefits at the time or not. Knowing how continuing to work might change benefit levels can lead to better decisions about when to claim benefits and whether to continue working. You can begin claiming Social… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about whether a new application is necessary to receive retirement benefits after taking spousal benefits, taking early survivor’s benefits before retirement benefits and when Social Security considers you to be 70. Larry Kotlikoff is a Professor of Economics at Boston University and the… More
Tips on protecting yourself from losing a rate lock getty A rate lock is a commitment by a mortgage lender to lend a stated amount to a specified borrower posting a specified property as collateral, at a stipulated interest rate and points. An important proviso is that the loan must be closed within a specified… More
Hands holding piggy bank with Roth IRA. Pension plan. Getty There’s been a lot of talk about whether the backdoor Roth IRA and mega back door Roth conversions will be eliminated. However, this isn’t the only reason to convert money to Roth. The most common reason is to pay taxes on pre-tax money now so… More
Who’s Minding the Store? We’re seeing it more and more now at AgingParents.com: elders as landlords who can’t do the management job any longer. Sometimes it’s the adult children who bring the issue to our attention. They see Dad failing maintain those rental houses he has had for decades. If tenants complain, he does not… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about how high benefit rates can possibly be, whether there’s a Social Security benefit increase for caring for a disabled spouse and the accuracy of Social Security’s benefit estimates. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and… More
Rising interest rates mean mortgage borrowers should like rates ASAP getty Based on rumblings at the Federal Reserve, the likelihood of a mortgage price spike in the near future is high. A price spike will make a mortgage costlier for all borrowers who are not locked, and unaffordable for some. This article is about locking… More
As financial advisors, we like to think of financial planning as a series of discrete practices woven together—like budgeting, investment planning, insurance planning, retirement planning, estate planning, education planning, etc. But I don’t think that’s how non-advisors, and our clients, really see it. Consider for a moment: What are the typical triggers for someone reaching… More
U.S. Department Of Poor Bond Returns (photo by Samuel Corum) © 2021 Bloomberg Finance LP “Last year I moved a small amount of my 401(k) into the Vanguard Inflation Protected Securities fund. Turned out to be a good move for the 5.7% I earned in 2021. Not such good news for the small amount I… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about whether having reduced income before filing will reduce retirement benefit rates, potential effects of pensions based on income not taxed by Social Security and benefits potentially available after remarriage. Larry Kotlikoff is a Professor of Economics at Boston University and the founder… More
Make 2022 the year you supercharge your 401(k) contributions Getty Images Reducing your tax bill seems to be one of the biggest motivators for making 401(k) contributions. The good news for 2022, 401(k)-contribution limits have increased. Keep reading as we share five reasons to supercharge your 401(k) contributions in 2022. Increased 401(k) Contribution Limits for… More
Scammers convinced a North Carolinian to cash in his bank CDs and transfer the money into bitcoin held in a Coinbase account. The banks didn’t block the suspicious transactions, but the crypto exchange froze the funds. getty In late August, an elderly Asheville, North Carolina man received a terrifying call from someone claiming to be… More
Sixteen years after a forensic investigation of the Chicago teachers’ pension was first proposed, … [+] the pension claims it has finally contracted for a forensic review. Whether the investigation will examine potential conflicts of interest and malfeasance regarding its investments, the pension won’t say. getty Sixteen years after a forensic investigation of the Chicago… More
What the life of America’s Golden Girl, Betty White, might teach us about longevity, work, and … [+] retirement. (Photo by Vincent Sandoval/WireImage) WireImage Betty White died only a few weeks from her 100th birthday. Few people knew her, that is, really knew her as a person. Most of us knew her through her work.… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about how income earned after previous earnings are inflation indexed at 62 affect how benefits rates are calculated, recalculation of WEP reductions due to substantial covered earnings and the family maximum benefit. Larry Kotlikoff is a Professor of Economics at Boston University and… More
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