Reducing the Risk of Outliving Your Money

Posted by Creekmur Wealth Advisors on 2:17 PM on April 2, 2020

What steps might help you sustain and grow your retirement savings?

“What is your greatest retirement fear?” If you ask any group of retirees and pre-retirees this question, “outliving my money” will likely be one of the top answers. In fact, 51% of investors surveyed for a 2019 AIG retirement study ranked outliving their money as their top anxiety.1

 

Retirees face greater “longevity risk” today.The Census Bureau says that Americans typically retire around age 63. Social Security projects that today’s 63-year-olds will live into their mid-eighties, on average. This is a mean life expectancy, so while some of these seniors may pass away earlier, others may live past 90 or 100.2,3

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Topics: Money Matters, Planning, Saving, Social Security income

Social Security by the Numbers

Posted by Creekmur Staff on 8:45 AM on February 19, 2019

Facts about the federal Old-Age, Survivors, and Disability Insurance (OASDI) program.    

Social Security has been a pillar of retirement life for several decades, but how much do you really know about it? Here are some facts that might surprise you:

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Topics: Retirement, Social Security, Social Security income, RetirementRSS

When Is Social Security Income Taxable?

Posted by Creekmur Wealth Advisors on 11:21 AM on October 2, 2018

To find out, look closely at two factors.

Your Social Security income could be taxed. That may seem unfair or unfathomable. Regardless of how you feel about it, it is a possibility.

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Topics: charitable IRA gift, Claiming Social Security, Uncategorized, Financial Planning, RMD, Social Security income, Tax on Social Security Income

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