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What’s the difference between a 401(k) and a pension plan?

The biggest difference between a 401(k) plan and a traditional pension plan is the distinction between a defined benefit plan and a defined contribution plan. Defined benefit plans, such as pensions, guarantee a given amount of monthly income in retirement and place the investment risk on the plan provider. Defined contribution plans, such as 401(k)s, […]

How To Secure Income For Retirement

Ten thousand Americans a day are turning 65, including a couple we’ll call Stu and Helen. In excellent health, Stu and Helen could be facing a retirement of 30 years — or even longer. One of their biggest fears about their impending retirement is their potential longevity — and running out of money to not […]

Achieve Senior Independence With a Safer Home

Elderly safety is a considerable problem in the U.S. as millions of seniors go to the emergency room each year due to injuries caused by accidents in the home. Falls are a leading cause of these mishaps. Yet, with proper equipment and knowledge, risk can be cut dramatically. The Centers for Disease Control and Prevention […]

Are Baby Boomers too optimistic about retirement?

If you’re a Baby Boomer within sight of age 65, you’re probably thinking about your next move—and it may well be a career change instead of a traditional kick-back-and-relax retirement. Among 1,005 Boomers who haven’t yet left their full-time careers, 60% expect to keep working at least part-time after they “retire,” says a study from […]

A Guide to Enrolling in Medicare When You Become Eligible

You know you’ll be eligible for Medicare when you turn 65, but what does that mean? More than 10,000 people age into Medicare eligibility every day, but many have questions about how to enroll and which plan will best meet their health and budget needs. Medicare provides important benefits for people who qualify, including preventive […]

Retirement: It Just Might Be Good For Your Health

If you’re contemplating retirement, you’ve probably given a lot of thought to its impact on your finances. But have you considered how retiring might affect your health? The latest in the debate over whether retirement improves or worsens health appears in the current issue of The Journal of Human Resources. Its conclusion: “Results indicate that […]

2016 Tax Season Opens Jan. 19

Following a review of the tax extenders legislation signed into law last week, the Internal Revenue Service announced that the 2016 tax season will begin as scheduled Tuesday, Jan. 19. The IRS will begin accepting individual electronic returns that day. IRS officials expect to receive more than 150 million individual returns in 2016, with more […]

Top 8 Year-End Tax Tips 1. Defer your income Income is taxed in the year it is received – but why pay tax today if you can pay it tomorrow instead? It’s tough for employees to postpone wage and salary income, but you may be able to defer a year-end bonus into next year – as long as it […]

Changes to Social Security – Primarily the file & suspend strategy

Congress is putting an end to two Social Security filing strategies that many couples have used to add tens of thousands of dollars to their retirement incomes. But there’s a six-month window in which couples who are at least 66 years old can take advantage of them, as well as a partial reprieve for some […]

What’s the Diagnosis?

The health care industry continues to focus on ways to reduce costs while improving clinical outcomes. In a recent report, researchers discovered that about one in every 10 patient deaths can be attributed, at least in part, to errors in diagnosis. The study revealed that approximately 5 percent of outpatients experience a diagnostic error each […]