Social Security

Retirement planning encompasses a wide range of consumers and advocates, from those who have no idea what to do to those who will suggest anything, no matter how unrealistic, to all but a narrow niche of consumers.

Your plan, then, should be built on the middle ground, with reliance on no single product or tactic. Rather it should consist of a mix of proven, safe and thoughtful approaches that will generate enough income to ensure you never run out of money.

There are plenty of ideas to choose from. GoBankingRates.com, a website that tracks interest rates recently published an article listing 25 ideas for retirees to consider. I focused on those addressing retirement finances, and I liked three of them enough to highlight here – followed by another three of my own ideas that everyone should consider. More

With election season in full swing, the Republican and Democratic parties are running on platforms that explain how they would tackle difficult problems facing the country. I was particularly interested in their stands on Social Security. As the government’s most expensive program, which affects millions of workers and which faces the possible need to reduce payouts after 2037, leaders of the two parties will have to do something eventually.

What they choose to do would affect each of us in different ways, ranging from no change in our circumstances to potentially large adjustments in lifestyle. I consider myself neutral in the political debate, beyond desiring a solution that doesn’t lead to calamity. With that in mind, I present both parties’ stances on Social Security in this article, and also examine some possible approaches that I believe would lead to financial health for retirees in a second article to be released next week.

When it comes to Social Security, here are my general principals: More