May 6, 2016

The Huge Retirement Penalty for Being a Mom

To reinforce my earlier post about giving mom an Individual Retirement Account rather than flowers or brunch for Mother's Day read on...
"As Mother’s Day approaches, families are busy buying flowers or booking a brunch at a favorite restaurant. Sounds great, but you may want to check on Mom’s retirement plan."
1. Moms generally earn less… 
2. …so they save less for retirement…
3. …and receive lower Social Security benefits.
4. Yet they have longer retirements to finance…
5. …which adds up to higher odds of poverty in retirement.    
Read the details by Penelope Wang at:
Then search for "IRAs" on this blog for how to arrange an individual retirement account for mom. Adult children might want to contemplate the impact on their lives when mom is old and living on only Social Security.


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  2. Happy Spring Everyone! Enclosed is an audio podcast we hope you enjoy. Tom discusses the first quarter of 2015 investment results and some thoughts about what we might expect going forward. Steve and Jill review the basic requirements for IRA holders once they turn 70 1/2 and must begin taking Required Minimum Distributions from their accounts. We hope you enjoy listening to the podcast and welcome any comments, questions, or future topics you might find helpful. Disclosure: Please remember that discussions on the podcast are not to be taken as specific investment advice. Always consult with...

    IRA Northwest Ohio

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