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Ten Most Common Social Security Questions

Social Security – An increasing number of “Baby Boomers” are retiring every day; an estimated 76 million in all. Yet very few who are ready to receive their Social Security benefit, understand how the system works. Therefore, I have put together a list of Social Security facts for you to consider, when your day to clock out for the last time arrives. Even if you are already receiving Social Security benefits, this information can be very helpful, especially if you have been on Social Security Disability, and you are reaching full retirement age. This information will be especially beneficial for those who are considering full or part-time employment after your benefit payments begin. The details are in no particular order. Read more

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8 Sobering Facts About Retirement

Thinking about retiring? Most everyone does. The question is, how do you plan to make this happen? All and sundry seem to have an opinion and a “strategy” for funding your permanent vacation, so rather than add to the noise, this article will focus on some sobering facts.

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Five Rules for the Beneficiary of an IRA

Whenever we here the letters “IRA” we get a picture in our mind of an investment that has some kind of tax benefits and consequences to it. We know that the money that’s made inside an IRA is not taxed until it is removed. We know that when we put money into an IRA we get to deduct it from our income tax. Most people know that at 70 ½ (or the year following), we have to start taking money out of the IRA and pay ordinary income tax on that amount. But that is about the extent of people’s knowledge of what an IRA is and what it does.

But when it comes to inheriting an IRA, most people are completely in the dark. Not knowing how to set up and transfer an IRA upon the death of the original owner can cause an irrevocable tax nightmare. Let’s start with the first person in line.
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