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6 Ways to Spend Your Social Security Payroll Tax Cut
Tweet Share on Facebook March 10, 2011 CommentWorkers are getting a temporary tax break on the amount they pay into the Social Security trust fund in 2011. The Social Security tax rate has dropped from 6.2 percent of taxable wages up to $106,800 annually to 4.2 percent this year, due to provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Here’s how workers are planning to spend their extra 2 percent of take home pay this year.
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Workers Have Austere Retirement Expectations
Tweet Share on Facebook March 8, 2011 Comment (2)Most Americans no longer expect their retirement years to be filled with travel or leisure. Instead, workers think their post-work life will be filled with anxiety as they watch their life savings dwindle each year.
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Should Government Workers Get to Retire Early?
Tweet Share on Facebook March 7, 2011 CommentMany state and local government workers can retire and collect a pension after a few decades of service, regardless of how old they are. Some public sector employees who started working in their 20s and never changed employers are eligible to collect pension benefits for life beginning in their 50s.
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5 Obstacles to Delaying Retirement
Tweet Share on Facebook March 4, 2011 Comment (1)Delaying retirement by a year or two is one of the most straightforward ways to make up for a lack of retirement savings. Working longer packs the double punch of giving your more time to save, while reducing the number of years your savings must last. But simply pushing back your retirement date won’t be an option for everyone. Here are five reasons you may not be able to delay retirement.
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7 Conflicts of Interest in Your 401(k) Plan
Tweet Share on Facebook March 1, 2011 Comment (3)Employer-sponsored 401(k) plans are riddled with conflicts of interest, according to a Government Accountability Office report released this week. The analysis found a variety of 401(k) service providers are recommending investments that may not be in the best interests of retirement savers and deliberately structuring their relationships with 401(k) plans to avoid being held responsible for poor performance. Here are seven conflicts of interest that could hinder your retirement savings efforts.
