In most cases, the Social Security benefits of a deceased spouse do pass to the surviving spouse, but there are some specific considerations to keep in mind when it comes to who is entitled to which benefits and how to apply for them. People are often unaware that they…
In 2020 – as COVID-19 wreaked havoc on the economy and our very way of life – 2.4 million people who weren’t originally planning on it decided to retire. Two years later, in March 2022, more than half of those folks (1.5 million) had returned to work. This “unretiring” trend…
If you could design the perfect retirement community, what would it look like? What kinds of amenities would you offer? How would you use technology to enhance safety and comfort? How would you support residents’ physical and mental wellness? These are questions that the designers of tomorrow’s senior homes and…
In 2023, Americans with disabilities will receive a significant raise in their Supplemental Security Income (SSI) and in other Social Security benefits. According to the Social Security Administration, monthly SSI payments are going up 8.7% – an average increase of more than $140 per month beginning this January. This cost-of-living adjustment (COLA) increase…
Giving gifts is a nice thing to do for a friend or family member, but, as the saying goes, “no good deed goes unpunished” – at least when it comes to the IRS. The federal government imposes a gift tax that is currently 40%. And if you live in Connecticut,…
There is something very appealing and kind of romantic about sailing off into the sunset to enjoy the golden years of retirement in an idyllic setting. It is, perhaps, the pinnacle of the American Dream. However, selecting the perfect place to retire takes more than just dreaming. It’s a process…
We’ll only be hours into the New Year, and most of us will already be steeling ourselves for the annual guilt trip about abandoned resolutions! It never fails. We start out with the best intentions, but as the world cranks back into gear after the holidays, we find ourselves slipping…
Many people mistakenly assume that Social Security is a fairly cut-and-dry proposition. You turn 62 – you get your long-awaited Social Security benefits. Right? Well, it is not that straight-forward. It is actually a very complex system that is best navigated under the guidance of a professional who knows something…
(Note: this post has been updated due to potential IRS changes) Do you know about the new changes that could affect your retirement accounts? Some are positive, others may require you to make some new planning decisions. Either way, the goal of this new legislation is to improve retirement security…
Over the past year, the pandemic has definitively disproved the old adage, “you can’t go home again.” For nearly 27 million young adults, going home again became the best survival option as colleges closed or transitioned to a remote model and employers laid off massive numbers of staff. In fact,…