social security: Making Room for Mom and Dad in Your Home
- 03/08/13 06:24 AM
How would you feel if Mom and Dad became your roommates? For some families, it’s a reality as they give shelter to financially struggling parents or ill parents who can no longer care for themselves. But as much as you may want to repay your parents for their care of you, you have to look at the financial and emotional ramifications of taking them in. “Parents are in the habit of taking care of their children,” says Rick Salmeron, certified financial planner at the Salmeron Financial Network. “The flow of wealth from older to younger generation feels natural to many.” … (0 comments)
social security: Kplinger's Guide to Taxes on Retirees for Delaware
- 03/07/13 08:09 PM
NICKNAME The First State BOTTOM LINE: TAX-FRIENDLY Delaware is one of the tax-friendliest states for retirees. It has no sales tax. Its income tax rates are modest. Social Security benefits are exempt, and senior taxpayers can exclude $12,500 of investment and qualified pension income from state income taxes. Homeowners 65 and older can get a credit equal to half of the school property taxes, up to $500. STATE SALES TAX Delaware does not impose a state or local sales tax. INCOME-TAX RANGE Low: 2.2% (on taxable income from $2,001 to $5,000) High: 6.75% (for taxable income above $60,000) SOCIAL SECURITY … (3 comments)
social security: Shred It!
- 07/12/12 01:06 AM
According to financial services consulting firm Javelin Strategy and Research, identity theft affects 11 million people a year, at a cost of $54 billion. If you don't want to be included in this statistic, you may want to get in the habit of shredding any potentially compromising information. If you don't already own a personal shredder, experts advise purchasing a high-quality, cross-cut shredder that turns your documents into confetti rather than long strips that a thief could possibly reconstruct.
Documents that you should shred include:
Tax documents that you have saved for three years or more Old bank … (0 comments)
social security: Make Your Nest Egg Last
- 09/25/10 11:48 PM
As baby boomers near retirement age and the economy continues to struggle it becomes more imperative that you have a savings plan beyond Social Security to carry you through your golden years. The five years before retiring and the five years after are critical transition periods for investing and financial planning. If you are one of the 41 million boomers who will soon be facing retirement, here are some strategies to consider to make the most of your savings: Seek professional advice. When you're in your 20s and just beginning to grow your investment portfolio, it's wise to meet with a … (1 comments)
How would you feel if Mom and Dad became your roommates?
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