If you are looking for answers from President Barack Obama regarding the state of the economy, tune in tonight. His televised speech to Congress should give us an indication of just how much he is changing the way things are done in Washington. WASHINGTON – Barreling ahead on a mammoth agenda, Barack Obama is ready to offer [...]
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People have traditionally seen Social Security benefits as the foundation of their retirement planning programs. The Social Security contributions deducted from your paycheck have, in effect, served as a government-enforced retirement savings plan. However, the Social Security system is under increasing strain. Better health care and longer life spans have resulted in an increasing number [...]
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If you are an employee, that is earning salary from someone, you should receive a form W-2 from the employer. The form is a “Wage and tax statement” for the year. In order to file tax returns for 2007 you must either include a W-2 and in case the W-2 is not received by you [...]
Determining how much money you need for retirement is a highly personal and complex decision. It depends on a number of factors, including the retirement lifestyle you desire, your target retirement age and your life expectancy. While the general rule is that you need 70 percent of your pre-retirement income to retire comfortably, many financial [...]
Many people wonder where their Social Security tax dollars go. Generally, out of every dollar you pay in Social Security taxes: 70 cents goes to a trust fund that pays monthly benefits to retirees and their families and to widows, widowers and children of workers who have died; 19 cents goes to a trust fund [...]
Choosing when to retire and start drawing Social Security benefits is an important decision, and one that is unique to each individual. You can begin taking payments as early as age 62, based on Social Security regulations, but when you retire will have an effect on the amount of the payment you receive. How payments are [...]
What would happen if your paycheck suddenly stopped because you were ill or injured and couldn’t work? Could you still pay your mortgage or rent and monthly bills? You could if you had long-term disability insurance. Disability insurance provides monthly income when you’re disabled and unable to work. Without coverage, a disability can deplete your savings [...]
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