Understanding Social Security Retirement Benefits

Not many people understand social security retirement benefits and taxations, and often end up missing out. There are three types of social security benefits; disability benefits, survivor benefits and retirement benefits. Here are some of the things you need to understand about retirement benefits. When is the Right Time to Retire and Collect Benefits? When…

What is a Final Salary Pension Plan?

There are many kinds of pension schemes offered by employers, one of which is a final salary pension scheme. This is a type of defined benefit pension plan. It’s normally written for individuals who are preserved members of a final salary pension scheme. Definition Such plans are mostly meant to provide benefits based on four…

Explaining the Difference in Roth IRA Rules

Working individuals look for many different financial instruments to help them save for retirement. The Roth IRA, named after Senator William Roth who was its main sponsor through legislation, gives Americans an additional alternative when saving money for their golden years. As the simplest form of retirement savings, Roth IRAs provide tax-free growth. Normal investment…

Individual Retirement Account Basics

An individual retirement account or IRA is a tax favored account designed to help individuals save for their retirement. There are many different types of individual retirement accounts; however, the two most common types are traditional IRAs, simply referred to as IRAs and Roth IRAs. The basics of traditional IRAs You can open your IRA…

Pensions Schemes and How They Work

Most people who have full time jobs have a pension scheme in place. A pension scheme is simply a financial arrangement put in place by the employer to ensure that workers continue to receive a regular income even if they are no longer working.Pension schemes may differ from one organization to another but the basic…

Top 5 Cheapest Places to Retire in the USA

When many people retire, they are on a fixed income. Whatever money you had saved for retirement, would need to last you the rest of your life. If you are planning on moving after retirement, there are a few cheap places that you should consider. Pittsburgh, Pennsylvania If you do not mind snowy winters, Pittsburgh…