Elderly couple checking social security paperwork

Can Social Security Be Garnished for Credit Card Debt?

By Maureen Milliken | February 24, 2023

Having too much credit card debt is never fun but living on a fixed income and worrying that your Social Security benefits may be garnished to pay that debt adds…

Older couple sitting with papers and considering bankruptcy

Retirees and Bankruptcy

By Bill Fay | May 14, 2021

People are supposed to relax when they retire, not worry about financial problems. Studies show that a lot of retirees turn to alcohol for debt relief, but there is a…

Rent Or Own Your Home In Retirement

Key Retirement Question: Rent Or Own?

By Bill Fay | May 14, 2021

There are 10,000 Baby Boomers retiring every day for another 14 years, which means a lot of people have a choice that will have a monumental impact on their retirement:…

Social security cards and 100 dollar bills in a pile

Social Security

By Bill Fay | September 24, 2019

More than 50 million people depend on Social Security benefits for part or all of their income during retirement. Although most working Americans do not plan on funding their retirements…

401k written on nest egg

401(k) Loans: Should You Borrow From Retirement?

By Bents Dulcio | May 2, 2019

When you need a loan, sources like banks, credit unions, online lenders and finance companies immediately spring to mind. But, for American workers who have a 401(k) plan, there’s another…

myRA Account is my retirement account

MyRA Account Starting Point For Retirement Savings

By Bill Fay | November 12, 2015

The United States government is opening the door to retirement savings for the millions of Americans who have nothing invested there, but a word of caution if you go inside:…

Jar full of coins intended for a 401K savings plan

Employers Up The Ante On 401k Plans

By Bill Fay | October 22, 2015

There is a new twist on the ages old discussion about how much is needed for retirement savings: Employers – not employees! – are taking the initiative. The Vanguard Group,…

Large cost for education

Workers Put Paying For Child’s College Ahead Of Retirement Savings

By Bill Fay | October 20, 2015

American workers have found another escape hatch to avoid contributing to their retirement savings and at least 33 percent of them say they would voluntarily take it. The LIMRA Secure…

When is it time to retire

When Should I Retire?

By Bill Fay | January 8, 2015

There was a time when no two words were more closely associated with each other than “65” and “retired.” The two were a couple for so long they were interchangeable.…

Senior Student Debt

Social Security Checks At Risk As Seniors Take On Student Loans

By Bill Fay | September 23, 2014

Wanda Russell had just turned 50 when her bosses told her she would have to go back to college and get a bachelor of nursing degree to keep her job.…