Planning When to Jump: Tools for Estimating Social Security Retirement Benefits

Posted on Apr 1, 2016 in Featured, Peoples Bank News |

Retirement planning is often mind-numbingly complex. Financial planners and advisors can reduce some of that load, but still, many decisions and financial considerations are required for one or more scenarios. It’s a headache that far too many people put off – to their peril. However, one simple thing that anybody can do is get a reasonable idea of what their estimated retirement benefit will be, depending on when they retire. Every 5...

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Five Questions and Answers about New Social Security Claiming Rules

Posted on Feb 4, 2016 in Featured, Investing, Peoples Progress e-Newsletter |

When Congress unexpectedly eliminated two Social Security claiming strategies as part of the Bipartisan Budget Act of 2015, retirement planning got a little more complicated for people who expected to use those strategies to boost their retirement income. Here are some questions and answers that could help if you are wondering how the new rules might affect you. What’s changing? The provision of the budget bill called “Closure of...

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Common Factors Affecting Retirement Income

Posted on Nov 5, 2015 in Featured, Investing, Peoples Bank News, Peoples Progress e-Newsletter |

When it comes to planning for your retirement income, it’s easy to overlook some of the common factors that can affect how much you’ll have available to spend. If you don’t consider how your retirement income can be impacted by investment risk, inflation risk, catastrophic illness or long-term care, and taxes, you may not be able to enjoy the retirement you envision. Investment risk Different types of investments carry with...

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Converting Savings to Retirement Income

Posted on Nov 6, 2014 in Investing, Peoples Progress e-Newsletter |

During your working years, you’ve probably set aside funds in retirement accounts such as IRAs, 401(k)s, or other workplace savings plans, as well as in taxable accounts. Your challenge during retirement is to convert those savings into an ongoing income stream that will provide adequate income throughout your retirement years. Setting a withdrawal rate The retirement lifestyle you can afford will depend not only on your assets and investment...

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Myths and Facts About Social Security

Posted on May 1, 2014 in Investing, Peoples Progress e-Newsletter |

Myth: Social Security will provide most of the income you need in retirement. Fact: It’s likely that Social Security will provide a smaller portion of retirement income than you expect. There’s no doubt about it—Social Security is an important source of retirement income for most Americans. According to the Social Security Administration, more than nine out of ten individuals age 65 and older receive Social Security benefits. But it...

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