The recent layoffs of federal workers have sent shockwaves through the U.S. government, leaving thousands of employees uncertain about their future. As the Department of Government Efficiency (DOGE) continues to downsize the federal workforce, many are forced to consider early retirement or apply for unemployment benefits. This article delves into the complexities of navigating these…
Retirement Planning Articles
Maximizing Social Security After Divorce & Remarriage
Divorce and remarriage can significantly impact various aspects of life, including financial planning and Social Security benefits. Understanding how these life events affect Social Security is crucial for making informed decisions about retirement and financial security. This article delves into the effects of divorce and remarriage on various types of Social Security benefits, such as…
Medicare Late Enrollment Penalties: Essential Guide to Avoiding Costly Fees
Medicare is a crucial health insurance program for Americans aged 65 and older and for certain younger individuals with disabilities. However, failing to enroll in Medicare at the right time can result in costly penalties that may last a lifetime. This article will explore the penalties associated with late enrollment in Medicare Parts A, B,…
The Hidden Risks of Target Date Funds: A Guide to Smarter Retirement Investing
Target-date retirement funds have become increasingly popular within employer-sponsored retirement plans in recent years, offering investors a seemingly simple “set it and forget it” approach to retirement planning. However, the static nature and inflexible asset allocation of these funds can present significant downsides for many investors. This article explores the potential drawbacks of static target…
House Passes Landmark Bill to Boost Retirement Benefits for Millions of Public Servants
The potential elimination of the Social Security Windfall Elimination Provision (WEP) has gained significant momentum with the recent passage of the Social Security Fairness Act in the U.S. House of Representatives. This development has sparked hope for millions of public sector workers and retirees who have long been affected by the WEP. Let’s explore the…
The Pros and Cons of a Backdoor Roth IRA
A Backdoor Roth IRA is a financial strategy that allows high-income earners to contribute to a Roth IRA, bypassing the income limits that typically restrict direct contributions. This strategy involves contributing to a traditional IRA and converting those funds into a Roth IRA. While it offers significant benefits, such as tax-free growth and withdrawals, it…
Top 3 Retirement Concerns for UMass Memorial Health Employees
After helping dozens of UMass Memorial Health employees with retirement planning over the past 30 years, I noticed many share the same top concerns. If you’re nearing retirement, you may have these questions, too. The good news? With the right guidance and strategy, these concerns can be addressed to help you retire confidently. UMass Memorial…
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