Today, many Americans rely on savings in 401(k)-type accounts to supplement Social Security in retirement. This is a pronounced shift from a few decades ago, when many retirees could count on predictable, constant streams of income from traditional pensions.  The question is: has this shift improved the average American’s retirement prospects?  According to the Economic…
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I’ve written numerous articles over the years about strategies for maximizing your Social Security (SS) benefits. But the most fundamental decision all retirees face is when to start taking payments. If you need the money, you may have no choice but to start taking payments as soon as you can. But if that’s not the…
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I’ve written many times about various things you can do in order to maximize the chances that your post-retirement life turns out to be everything you’ve hoped it could be.  What is the number one thing you need to do?  In a word, save!  And I mean save early, save often, and save as much…
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Detroit has recently joined Stockton and San Bernardino in filing for bankruptcy.  It’s the largest city in the U.S. ever to go this route.  How Detroit resolves its inability to pay in full the promises it has made to creditors and retirees will affect municipal bond holders, the insurers that guarantee such bonds, state and…
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I wrote a blog not too long ago about how much we need to be saving for retirement. It turns out that small business owners are among those most at risk. A recent AP report posted by MarketWatch shared the stories of a number of business owners who simply ignored their own future and focused…
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