Why Social Security Is Not Enough

The severe economic crisis known as the Great Depression was so overwhelming to the US that it drained every possible means of financial aid for the unemployed, aging, widowed, orphaned and disabled.  In order to overcome the newly created obstacles resulting from a mass outbreak of poverty (and to help steer clear from it ever happening again), President Franklin D. Roosevelt appointed the Committee on Economic Security.  His goal was to create a national program that could establish a financial backup for the unemployed and the aging, plus enable each individual state to provide a better range of welfare benefits.  With all of this in mind, the committee went to work and came up with the 1935 Social Security Act, which also established cash relief for the above individual’s dependent children, the blind, and other needy folks. All was paid for with a simple payroll tax.

5 Tips for Preparing for Your Retirement

Retirement may seem like a long time away from wherever you are on the spectrum of life. Maybe you’ve just paid off your student loans, or just recently graduated from college.  Maybe your kids are still in diapers, or maybe you’ve just made their first college tuition payment.  Whatever point you’re at in life, one thing is for certain- any amount that you save now for your retirement will not go to waste.

Social Security Reform- and the Effects on your Retirement

On August 14, 1935, president Franklin D. Roosevelt signed into law what was considered my many to be the great moral successes of the 20th century. It provided a means of income for disabled or retired individuals, sort of a safety net that included unemployment insurance after the Great Depression. For over 60 years, millions of Americans have relied on their monthly Social Security check to keep them above the poverty line.

New FDIC Regulations for Retirement Accounts- Are you Affected?

You just may be.

For the first time in over 25 years, the US Congress has raised the limits of insurance coverage that protects your money if a banking institution fails from $100,000 to $250,000 for certain kinds of retirement accounts. However, these deposits must be held at a bank or credit union and insured by the FDIC (Federal Deposit Insurance Corporation) or the NCUA (National Credit Union Administration.)

If 65 is the “New 50”, just when are we supposed to retire?

You exercise, you eat healthy foods, you love your job, your home, your family- you basically love life! So why on earth would you want to retire and change everything that you love? If 65 is the new 50, just when are we supposed to retire?