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Financial Freedom Blog
December 12, 2017
People worry about retirement because it’s a great unknown. It’s like walking down a lighted hallway and turning into a dark room. You’ve never been there so it’s scary. That’s normal. Want to prepare for retirement without freaking out? You need a total retirement plan. Having a plan for anything … Read More
December 6, 2017
Here are some frightening statistics about the impact of health care costs in retirement and their relationship to Social Security benefits: The average 70-year old couple will spend $14,554 on out-of-pocket health care costs in 2017. This assumes no extreme illnesses. It will take approximately 40% of this couple’s Social … Read More
December 5, 2017
According to the data information website HowMuch, assuming an average income after age 65*, here is how long a million dollars will last if you live in the five best and five worst states: State How long $1 million lasts in retirement Mississippi 25 years, 6 months Arkansas 25 years … Read More
November 28, 2017
Last time we reviewed the state of the Social Security trust fund for retirement benefits and determined that: The trust fund will run out of money in 2034, and If nothing is done, Social Security benefits will need to be cut by 25% so revenue matches outgoing benefits. Politics will … Read More
November 21, 2017
This is a question we often receive from people planning for retirement. For some people, Social Security retirement benefits are an important part of their retirement income strategy and for others it is crucial. Currently, approximately 61 million people receive Social Security retirement benefits (about out one in five Americans). … Read More