If confirmed, Martin O'Malley would oversee one of the U.S.'s largest social programs.
A company survey found inheritors are anxious about the money they're about to get.
Advisors say there are circumstances where wealthy clients may want to take their benefits early.
That forecast reflects a jump from 2.7% forecasted by the Senior Citizens League last month.
A couple's retirement withdrawals must take their brackets (and their children's) into account.
William Reichenstein and William Meyer say marginal tax rates need to be used for calculating withdrawal rates.
Experts in how the program works share their ideas on how to modernize the safety net and make it sustainable.
Much longer lives could present an even greater need for protected lifetime income.
“Too often I've discovered financial advice is rooted in the past," Edelman said.
The proposal would gradually increase the retirement age to 69 years old by 2033.
The firm found that 35% of Gen Xers have less than $10,000 saved.
Social Security generously rewards those who wait.
The deal doesn't touch most of the fast-growing entitlement programs like Medicare, Social Security or Medicaid.
The debt-ceiling crisis could potentially lead to Social Security payment delays for millions of Americans.
Connecticut and Washington, DC, both approved baby bond programs in 2021, and several other states have considered the idea.
Inadequate retirement savings will result in higher public assistance costs, a Pew Charitable report says.
Retirees can avoid high marginal tax rates with Roth conversions, said William Reichenstein.
Social Security generously rewards those who delay until age 70.
The generation also is more reliant on defined contribution plans than others, according to Natixis Investment Management.
Let grieving clients know that you are available to help them sort through their Social Security benefit options.