Funding Social Security Without Payroll Taxes

Last week I pointed out the strong improbability of Social Security failing despite President Trump’s promise to support eliminating the payroll taxes that fund it. Accomplishing this would require not only his reelection, but also Republicans retaining control...

Defunding Social Security? Highly Unlikely

I received this email from a long-time retired reader. “I’ve been reading a lot of stuff that says we may not have Social Security income before too long. This concerns me, of course—if my partner loses his Social Security as well as his federal retirement...

Happy 65: Moving to Medicare a Mixed Bag

Watch this video on YouTube This month marks a rite of passage for me. I am officially a senior citizen. I don’t feel the way I thought 65 would feel when I was 25, even though I see a 65-year-old in my mirror. The good news is that I now qualify for every senior...

Higher Life Expectancy, Lower IRA Required Distributions

Watch this video on YouTube If you are over 72 and own an IRA, 401(k), 403(b), or TSP, you may be on the receiving end of a gift from the President. In 2018 he issued an Executive Order on “Strengthening Retirement Security in America.” One of the...

Immediate Annuities May Fit Into Retirement Plan

Watch this video on YouTube Recently, a life insurance agent wrote me about my railings against the SECURE Act now allowing annuities in 401(k) plans. He politely—and accurately—noted my “unfavorable opinion towards annuities (and by extension insurance sales...

SECURE Act Details and Your Retirement Planning

Watch this video on YouTube After my recent column on the SECURE Act, a client asked, “What are you going to do about this? It makes the planning we’ve done useless.” The good news is that, while the Act will mean some retooling of estate and retirement...