Please click on the link below to watch today's video blog: https://youtu.be/U6ZbEa8kxDM Elliot S. Schlissel has more than 45 years experience representing clients in all aspects of estate and long term care planning. He and his associates are available for consultation at 516-561-6645, 718-350-2802 or by sending an email to … [Read more...]
IRA Distributions and IRS Penalties
If you have an Individual Retirement Account (IRA), once you reach the age of 70 ½ years, you must start making distributions out of the account each and every year. Should you fail to make these annual distributions, significant fines are triggered. These fines can equal up to 50% of the money which was supposed to be distributed in that year from … [Read more...]
Collecting Social Security Benefits
Can you collect your spouse’s Social Security benefits? If you are already collecting your own Social Security benefits, can you elect to collect your spouse’s benefits instead of yours? What do you have to do to collect your spouse’s Social Security benefits? These questions and others are common questions seniors have concerning Social Security … [Read more...]
Scams Targeting Senior Citizens
To watch today's video blog, please click on the link below: https://youtu.be/-euau4_ig-Q Elliot S. Schlissel is an elder law attorney with more than 45 years experience. He and his associates represent clients with regard to wills, trusts, estate planning and probate administration. He can be reached for consultation at 516-561-6645, … [Read more...]
Spinning the mindset of the retirees – Why should the baby boom end with a whimper?
Between the years 1946 and 1964, around 78 million Americans were born and this generation came to be termed as the baby boomers. Undoubtedly the hard work of the boomers contributed a lot to shape the US economy in the last 40 years but this entire generation is approaching their retirement age. It was in 2006 that the first few baby boomers … [Read more...]
Dispelling Retirement Myths
Retiring in comfort is getting more and more difficult. The costs of retirement are spiraling while the income of the average American has flattened out or is declining. There are many retirement myths that are simply untrue. Following is the discussion of some retirement issues that all potential retirees should be aware of. How much will be … [Read more...]
Retirement Planning for Single Americans
Who prepares better for retirement, married couples or single individuals? The answer is married couples. More than 85% of married couples have saving plans related to their retirement. This compares with only 67% of single individuals who have established retirement savings programs. Retirement Planning Americans who have worked during the … [Read more...]
Baby Boomers Afraid to Retire
Baby boomers are afraid to retire. There are 77 million baby boomers who were born between the years 1946 and 1964. This large group of Americans are getting ready to retire,but do they have the resources to retire. Twenty five percent of the baby boomers claim they will never retire! A large majority of the baby boomers look at social security as … [Read more...]
Retirement Planning Mistakes
Americans do not save enough money during the course of their working years to have the retirement life experience they have dreamed about. In a recent study by the Employment Benefit Research Institute, fifty-six percent of the workers interviewed stated that the total value of their household savings and investments, without including the equity … [Read more...]
