Social Security was established in 1935, due to so many elderly people going hungry during the Great Depression. President Roosevelt felt people were losing hope. The Welfare Department was established and Social Security began. In the past, FICA tax paid into the Social Security system on a portion of income was never subject to income […]
About Peter Jeppson
This author has yet to write their bio.Meanwhile lets just say that we are proud Peter Jeppson contributed a whooping 302 entries.
Entries by Peter Jeppson
Most employees do not know what their Social Security benefits will be. They don’t know what their 401(k) will provide for them at retirement, nor when they will be out of debt. Few employers provide disability insurance if you get hurt or sick, so what will happen if you become sick or hurt? And health insurance […]
You work hard to save money on a tax-deferred basis so you will have more money after tax. Then you go to retire and have to pay tax on 100 percent of the money you take out of the 401(k). So if you thought paying taxes on your annual income was horrible, wait until retirement if all […]
This illustration of plaque buildup in the arteries makes me sick. Millions of people have plaque that has the potential to cause huge health problems. The same can be said about the “financial plaque” that so many people carry around with them. They have allowed their spending to overcome their income and use credit almost exclusively to live on. When […]
Habits help us do things more easily, with less effort. They cause us to automatically slam on the brakes of our car when we see a ball and small child run out into the street just ahead. Habits have helped us become right- or left-handed and do things efficiently because of better coordination. But at […]
A friend of mine loves to golf. But the expense of it is concerning to his wife so my friend won’t tell his wife when he goes and even leaves his golf clubs with his friend permanently, just so his wife doesn’t see them missing for a day. I use this example of golfing because […]
Healthcare costs are much higher because older workers are not retiring. They stay on and keep their health insurance and take up a place of employment that would normally go to a younger person. This is why younger folks are having a harder time finding employment (and paying for healthcare). As older folks keep on […]
If the Trump administration ends up getting taxes lowered, consider converting all IRA and 401(k) savings over to a Roth IRA. The tax hit today will allow all future growth to be taken out as tax free! Here are two observations about this advice: First, when you take income during retirement from a Roth IRA, you do not pay […]
It has been said that your attitude determines your altitude. I believe this with all my heart. I have seen many examples of how a good attitude makes life so much better. Please forgive the personal reference, but I want to share my own story about how attitude can really make a difference. At age 19 […]
A rose is beautiful and we all enjoy them to celebrate special occasions. But roses have thorns — sometimes we can prick ourselves if we aren’t careful. Retirement is just the same. We can enjoy retirement if we hold it just right, but if we refuse to prepare, the thorns we will experience in retirement can […]
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