Social Security

A new body of research suggests an ideal retirement-planning approach may exist — but buyer beware.

One-third of households headed by Americans aged 65 and older derive 90% of their retirement income from Social Security, according to a GAO report.

In September, the inflation rate was 2.23%, slightly higher than the proposed Social Security increase. So realistically, recipients "will not be better off at all."

Tax cuts today will increase deficits and future retirees will bear the brunt in reduced Medicare and Social Security benefits, according to one expert.

"Sun and sand are great," says one analyst, but they're not the only considerations. They certainly didn't help boost the top city in this survey.

For a retired military service man, delaying his Social Security would mean he's not subject to the earnings test that can reduce his check by $1 for every $2 he earns over the current threshold of $17,040.

Indeed they are. Not only are they less healthy, they are more likely to worry about not having enough funds for housing, utilities and other necessities.

The tax cut proposal would not benefit retirees because most of them either owe no federal income taxes or face a modest tax burden.

Employees aged 50 and above would no longer be able to make catch-up contributions on a pretax basis to their retirement plans under the Senate version of the GOP tax proposal.

The proposal aims to simplify tax subsidies by increasing qualified withdrawals from 529s in exchange for scrapping the Coverdell account.