How the pandemic has shaken up retirement

How the pandemic has shaken up retirement

May 7, 2021 Pandemic-related job losses forced many older Americans out of the workplace in the past year, perhaps permanently. But the COVID-19 crisis also seems to have delayed some retirements. Remote work eliminated commutes and often allowed more flexible schedules with fewer interruptions. At the same time, the pandemic restricted many traditional retirement activities, including travel and visits with family. While some employed older workers look forward to retiring when restrictions ease, others say teleworking has made staying on the job more tenable. Tax accountant Larry B. Harris of Asheville, North Carolina, found a lot to like about working…
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After One Year Of Covid-19, America’s Retirement…

After One Year Of Covid-19, America’s Retirement…

A year has come and gone since the beginning of the Covid-19 pandemic in the United States in March 2020, upending all of our lives. Hundreds of thousands of Americans have lost their lives, millions have lost their jobs and practically every kid (and parent) in America has endured school at home for months on end. We’ve changed how we work, how we shop and how we socialize. But there’s one thing that hasn’t changed: retirement. Despite concerns that folks might raid their 401(k)s or companies would axe benefits en masse, most workers saved for retirement in 2020 much as…
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6 Social Security Changes for 2021

6 Social Security Changes for 2021

These changes in Social Security taxes and benefits take effect Jan. 1 Every October, the Social Security Administration (SSA) announces its annual changes to the Social Security program for the coming year. Here are the Social Security changes that were announced in Oct. 2020 to take effect on Jan. 1, 2021, according to the SSA’s annual fact sheet. Keep them in mind when you update your Social Security information. KEY TAKEAWAYS Social Security recipients got a 1.3% raise for 2021, compared with the 1.6% hike beneficiaries received in 2020. Maximum earnings subject to the Social Security tax also increased—from $137,700 a year to $142,800.…
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