Title: America’s $7 Trillion Retirement Crisis Is Only Getting Worse
Article Snip: "...Economic turmoil took a toll on savings in the first half of 2022 and that’s just the tip of the iceberg as many in the US lack employer-sponsored plans. ..."
Reference: www.bloomberg.comTitle: Bill would eliminate federal taxes on Social Security benefits: ‘You Earned It, You Keep It’
Article Snip: "... Minnesota Democrat is pushing Congress to eliminate federal taxes on Social Security. U.S. Rep. Angie Craig, D-Minnesota, recently introduced the “You Earned It, You Keep It Act” to repeal federal taxes on Social Security benefits for retirees across the country. ..."
Reference: www.al.comArticle Snip: "...For civilian federal employees covered by the General Schedule and some other pay systems, Biden said there would be a 4.1 percent across-the-board base pay increase..."
Reference: thehill.comTitle: States Where Your Retirement Will Cost Less Than $45,000 a Year
Article Snip: "...To help you choose the perfect place to retire, GOBankingRates used data from the Bureau of Labor Statistics to find the top 10 states where you can live out your golden years for less than $45,000 annually The study analyzed factors like groceries, housing, utilities, transportation, healthcare and the overall cost-of-living index in each state, all of which contribute heavily to your yearly expenses in retirement. These indices were then multiplied by the average annual expenditures of Americans aged 65 and older, which provided the final ranking of the top 10 states. ..."
Reference: yahoo.comArticle Snip: "...Adcock hasn’t even considered the possibility of returning to full-time work, or even picking up a side hustle. “Absolutely, positively not. That’s never entered my head even a little bit,” says Adcock, who previously worked in information technology for 14 years. “That is the worst-case scenario.”..."
Reference: www.cnbc.comTitle: St. Mary's County Navy retiree wins $100,000 scratch-off prize
Article Snip: "...BALTIMORE, Md. (August 17, 2022)—He enjoys playing Maryland Lottery scratch-offs that offer prizes totaling six digits or more, so when the retired U.S. Navy man claimed a prize Aug. 9 at Maryland Lottery headquarters in Baltimore, it was for a substantial sum: $100,000! The loyal player sets money aside for recreation, using only those funds to enjoy his Lottery hobby and sticking to a strict limit. ..."
Reference: somd.comTitle: The Number Of Years $100,000 Will Add To Your Retirement Fund, Visualized
Article Snip: "...Their model estimated spending at $50,595 per year, based on the average amount for persons between the ages of 65 and 74. They determined social security would cover nearly 39 percent of those yearly costs, leaving a retiree with around $2,559 worth for out-of-pocket expenses, which according to estimations could bump up by 2.2 percent each year...."
Reference: digg.com
Title: Gardening in Retirement Grows in Popularity
Article Snip: "...When people retire, especially from laborious jobs,they desire to wind down from working for someone else or a... Here is an example of a pond and garden being developed over time. In this example, a 41 year retiree from the federal government, says his pond area is simply an easy way to bring nature to your backyard while increasing aesthetic value. Join us for a 9 minute tour of a north Alabama backyard pond and garden. "
Reference: A Backyard Water GardenArticle Snip: "...Deciding how much to save for retirement depends on the investor’s circumstances, the report says. This includes their income, the age at which they start saving and the lifestyle they have become accustomed to. For a 25-year-old making less than $90,000, the necessary annual savings rate ranges from 3% to 8%, depending on return assumptions and time horizons, while a 50-year-old man may need to save between 13% and 38% of gross income to achieve the same outcome. These figures demonstrate how early savers have a much better chance of achieving retirement success. ..."
Reference: www.planadviser.comTitle: 15 Cheap, Beautiful Places To Retire
Article Snip: "Retirement should be about enjoying your life with minimal stress and spending some time in an environment you find pleasing. To do that on a budget though, you'll need to choose a retirement destination that's not only affordable but also features a hospitable climate. To assist you in your relocation plans, GOBankingRates looked at hundreds of U.S. cities to find the cheapest places to retire that feature favorable weather. More often than not, retirees will find the most affordable and sunniest retirement destinations in the southernmost state of the continental U.S. -- Florida. In fact, one third of the 15 U.S. cities on this list are in Florida. To rank in the study, each city had to meet the following requirements..."
Reference: yahoo.comTitle: How is Social Security taxed?
Article Snip: "...If your total income is more than $25,000 for an individual or $32,000 for a married couple filing jointly, you must pay federal income taxes on your Social Security benefits. Below those thresholds, your benefits are not taxed. up to 50 percent of your benefits if your income is $25,000 to $34,000 for an individual or ..."
Reference: www.aarp.org
Article Snip: "...looking for direction on how to navigate through your federal retirement benefits? In this book, you will find out about the TSP Modernization Act of 2017 and how the changes will affect you. You will learn about your FEGLI options, Health Insurance options, and what to do with your TSP (while you are working and in retirement). One critical mistake can cost you thousands of dollars. If you are wanting a successful and happy retirement, with total peace of mind, then this book will strategically guide you along your retirement journey and answer some of those questions that you have. ..."
Reference:Title: Social Security Expansion Act (SSEA) | H.R.8005
Article Snip: "U.S. Rep. Peter DeFazio (D-Ore.) and Senator Bernie Sanders (I-Vt.) introduced the Social Security Expansion Act (SSEA) in both houses of the U.S. Congress on June 9, 2022. This legislation seeks to keep Social Security solvent through 2096. But it goes beyond just keeping the program going. The SSEA would boost benefits for current and new Social Security beneficiaries by $200 per month, or $2,400 per year. Individuals wouldn’t have to wait until their full retirement age under the bill, either. Anyone who turns 62 would be eligible for the increase."
Reference: www.koamnewsnow.comTitle: Americans Changing Spending Habits Due To Soaring Inflation, November Might Witness Worse
Article Snip: "..."As bad as inflation seems now, Americans are likely to feel even more in the months ahead, as they burn through those accumulated savings," said the National Review. ...Seventy per cent of Americans are using their savings to cover rising prices, it said, citing a recent Forbes Advisor survey of 2,000 US adults"
Reference: www.india.comTitle: Federal Employees’ Retirement System: Summary of Recent Trends
Article Snip: "...Workers who retired under FERS received an average monthly annuity of $1,834. Employees retiring under FERS had a shorter average length of service than those under CSRS. FERS annuities are supplemented by Social Security benefits and the Thrift Savings Plan (TSP). ..."
Reference: www.everycrsreport.comTitle: Retiree warns others after losing $8,500 in check-washing theft
Article Snip: "...Retiree Cindy Redmond noticed something was wrong after she mailed two checks from her south Charlotte home. ...“(I) put the mail in the mailbox around (9 p.m.) and then went out for a walk about (10 p.m.) and saw the mailbox was open and empty,” Redmond said. “You get a gut feeling that’s not right. Our mailbox is never left open.” ...“It appears that the suspect was able to wash the check,” said Officer Johnathan Frisk..."
Reference: www.wsoctv.comTitle: Man driving U-Haul with an outstanding warrant for postal theft, arrested after police chase
Article Snip: "...The Caddo Mills Police Department reported that Harper, 31, of Southaven, Miss., was being held in the Rockwall County Jail as of Monday morning. The officer did a check of the truck’s registration and was alerted that it had been stolen out of Holland, Mich...Inside the stolen truck, police found marijuana as well as identification, bankcards and tax information belonging to other people. They also found...Harper also has an outstanding warrant for postal theft, according to police."
Reference: www.rockwallheraldbanner.comTitle: Meet the Stone Mountain Hookers—a women’s fishing club
Article Snip: "...Betty Pompey, a Stone Mountain community leader who retired as an executive with the U.S. Postal Service, said she had some fishing experience while living in Savanah. “I showed up with large surf-fishing lures and a big, heavy-duty rod, prompting some laughter,” said Pompey. Now others in the club have rods, reels, line and hooks suitable for local lake fishing for the Bream, Bass, Crappie and Catfish. ..."
Reference: ocgnews.comTitle: What is one of the best things i can do to prepare for retirement?
Title: Social Security Benefits: How to avoid mistakes and get full payments?
Article Snip: "Make sure you are not missing out due to a simple error..."
Reference: www.marca.com