“If you are an individual turning 65 today, in order to be 95% sure that you are not going to outlive your retirement plan, you will need to generate income for 33 years.” Dr. David Kelly, Chief Global Strategist, JP Morgan Asset Management, “The annuity advantage in the new economy” Hard to believe, but in the […]
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Leaving Your Job? Take Good Care Of Even The Smallest Retirement Accounts
Most small 401(k) retirement accounts don’t get the respect they deserve. The majority of employees, especially the younger ones, cash out their small 401(k) accounts when they leave their employer for a new job elsewhere. Eight out of ten small accounts (defined as those with balances under $1,000) are cashed out. Over 60% of balances […]
Ask Mari: Will Switching To Part-Time Work Hurt My Social Security Benefits?
One of our clients asked a great question that other day as we met to discuss retirement plans with her and her husband. At age 60, she is not yet old enough to start claiming her Social Security benefits (that starts at age 62). But she wanted to know if switching from full-time to part-time […]
What’s On Our Fall “To Do” List
It’s fall, and the leaves are changing color for our friends up north. Here in Florida, it’s still hurricane season (until November 30) which undoubtedly means more rain and a close eye on the tropics for another two months. As we enter the last quarter of the year, here’s a quick rundown of what is […]
Retiring? Avoid This Big 401(k) Rollover Mistake
Three-quarters of retirees “de-risked” their portfolio by reducing stock exposure when they quit working and rolled their workplace 401(k)s to an IRA. The de-risking dilemma That may seem like a good idea. But unfortunately, in some investment environments, making big, sudden changes to your fund mix at retirement can be a major mistake, according to […]
Why No One Likes IRMAA: Medicare’s Stealth Tax Targets Higher Income Retirees
Back in 2018, we ran our first blog article about IRMAA, the stealth tax raising Medicare premiums for higher income retirees. Three years later, we continue to get calls from clients complaining about these nasty Medicare premium hikes, and it seems like even more of our retired clients are being bit by these back-door tax increases. […]
More 401(k) Millionaires Than Ever
Baby boomers are joining the ranks of the million dollar retirement club in record numbers, thanks to powerful growth in market values over the last decade. Fidelity Investments says the number of customers with 401(k) accounts totaling over $1 million in value exploded by 84% over the past twelve months, while IRAs of similar value […]
Look for Big Cost-of-Living Jump in Your Social Security Benefits for 2022
The official numbers aren’t out yet but you can look for a big cost-of-living hike in your Social Security benefits for 2022. The increase is designed to help your benefits keep up with inflation. Word on the street says your monthly benefits will jump by 6.2% or perhaps even more starting next January. That would […]
4 Facts To Understand So You Don’t Outlive Your Savings
Retirement today is a whole new ballgame, and it might run a few extra innings. That may not be the best sports analogy, but it’s one of the main takeaways from an online conversation sponsored by Barron’s with gerontologist and aging expert Ken Dychtwald, CEO and founder of Age Wave. Dychtwald is a prolific writer and […]
Giant Government Retirement Plan Going Green
Over 6 million workers from government agencies and uniformed services will soon have the option of going green when it comes to their retirement plan investment choices. The government version of a 401(k) is the Thrift Savings Plan, a giant $762 billion defined contribution plan that collects employee salary deferrals and government matches for over […]
About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ has helped hundreds of individuals and families build wealth and plan for a more secure financial future for over 30 years. Her advice has appeared in publications such as Wall Street Journal, Kiplinger’s, Money Magazine, Business Week, and CBS MarketWatch.
