Estate Planning and Elder Law attorneys try to raise awareness about the limitations of the Social Security program as a source of retirement income. When you look at the statistics, you see that a significant percentage of baby boomers are finding out that they are never going to be able to retire. Many of them got into this disadvantageous position because they were expecting too much from Social Security. The amount of your Social Security benefit is calculated based on the 35 years during … [Read more...] about Social Security Benefit Alone Won’t Finance Comfortable Retirement
More Older Americans Remaining in Workforce
Retirement planning experts are noticing a growing trend among the nation's older citizens. A higher percentage of people who are in their mid-50's and beyond are remaining in the workforce. According to the Sloan Center at Boston College, the number of individuals who are at least 55 years of age who are still on the job has increased by 10% over the last 20 years. The average retirement age has risen by two years over what it was in the mid-1990's. There are various different reasons why … [Read more...] about More Older Americans Remaining in Workforce
Longer Lives Require Bigger Budgets
Planning ahead for the future is very important because your ability to earn may not be what it once was when you reach your elder years. If you don't take advantage of your prime earning years to feather your nest for your retirement and the twilight years that will follow, you could find yourself in a difficult position toward the end of your life. People are living long lives these days, with the average lifespan for a 60-year-old woman being about 85 years. Perhaps surprisingly the 10 … [Read more...] about Longer Lives Require Bigger Budgets
Self Employment Brings Rewards and Personal Responsibilities
More and more Americans are working for themselves, and this can be a very rewarding choice. You get to make your own decisions, and the sky is the limit with regard to your potential. In fact, many people are working as sole proprietors out of their homes, and this affords many advantages. Obviously you do not have to worry about a daily commute and this saves you money, saves you stress, and reduces your impact on the environment. Another advantage that goes along with working from home … [Read more...] about Self Employment Brings Rewards and Personal Responsibilities
Start Building Your Future in 2013
Now that we have ushered in a new year, it is time to make good on our resolutions. The suggestion here is to take this motivation and use it to start building your future in 2013. Planning is the difference between people who are comfortably retired with the ability to leave behind a robust legacy and those who are not. If you work with an experienced financial planning attorney to devise a sensible plan that is consistent with your capabilities and your objectives, you will be working toward … [Read more...] about Start Building Your Future in 2013
Three Commonly Asked Social Security Questions
The income that you receive from Social Security as a senior citizen is probably going to be very important to you. The Social Security Administration tells us that the majority of individuals who are on Social Security rely on their benefits for most of their income. While the above may be true, you would do well to understand the facts about Social Security so that you have a realistic viewpoint with regard to exactly what this program will do for you. To this end, we would like to provide … [Read more...] about Three Commonly Asked Social Security Questions
Be One of the “Lucky Ones”
When you look around as a working person who has seen his or her 70th birthday come and go you may view people who are your age who have retired as "lucky." There are indeed some senior citizens who have won lottery prizes, and perhaps there are those who have hit it big on the beach with their metal detectors. However, most people who are comfortable enough financially to enjoy their retirement years were by no means lucky. The difference between those who can retire with some modicum of … [Read more...] about Be One of the “Lucky Ones”
Medicare Part B Premiums Rising
When you are planning for your retirement years, it is important to understand what you can expect from Medicare and Social Security. Many people go forward with the misconception that these two government programs provide a comprehensive, turnkey retirement solution, but this is simply not the case. There are premiums and deductibles that must be paid while you are participating in the Medicare program, so it is not truly free health care. And, it should also be noted that Medicare will not … [Read more...] about Medicare Part B Premiums Rising
Spouse of Military Retiree Won’t Receive Pension
The best way to engage in veteran's benefits planning is with the assistance of a licensed and experienced San Jose estate planning lawyer. There is a lot to take into consideration, and you don't want to make any assumptions that create difficulties, or fail to take advantage of benefits that are available to you. Understanding all the different veteran's benefits that you may qualify for is part of the equation. But, you also have to examine how these benefits fit alongside the civilian … [Read more...] about Spouse of Military Retiree Won’t Receive Pension
Seniors Living Together Must State Wishes in Writing
Love and companionship are important to everyone, including senior citizens. When you are widowed or divorced you may eventually find a new partner, and this can make a huge difference in your life during your golden years. However, there is an interesting trend developing that has caught the attention of the elder law community. According to United States Census Bureau statistics, increasing numbers of individuals who are in their 60s are deciding to live together without getting … [Read more...] about Seniors Living Together Must State Wishes in Writing
