A couple of months ago, I discussed a loophole in the Social Security law that allows current retirees to pay back the benefits they've received (without interest) and restart the Social Security clock at a higher benefit level. Recently, I discovered two additional unusual Social Security strategies. Read the full article

The Pew Research Center Social and Demographic Trends Project reported last week that Baby Boomers, who turn 44 to 62 this year, are slightly (but significantly) more pessimistic about their lives than other adults. Read the full article

Most people understand that the FDIC insures certain kinds of bank deposits, like bank CDs. There's no way to “guarantee” an investment against losses, but an FDIC-insured deposit is probably the closest most of us will ever come to a guaranteed investment. However, consumers are sometimes a bit confused about how much FDIC insurance coverage they can have. Read the full article

The University Of Michigan Retirement Research Center recently published a brief summarizing the results of several surveys of financial knowledge. The studies suggest that many Americans need help understanding financial and economic fundamentals. How financially literate are you? Read the full article

Taxpayers who previously set up their tax refunds to be deposited directly to their IRAs this year will need to be vigilant: Economic Stimulus rebate checks will also be automatically deposited into any IRAs whose owners have set them up to receive tax refunds. Read the full article

April 15 has come and gone, so the opportunity to make a 2007 IRA contribution is firmly behind us. As you think about your 2008 contributions, here's a list of IRA slip-ups that you probably want to avoid. Read the full article

Recently the mutual fund industry has introduced a new type of financial product targeted at Baby Boomers: income replacement funds. Fidelity has initiated several of these funds and Vanguard's versions of the same idea, known as "managed payout" funds, were rolled out earlier this month. Other companies will doubtless follow their lead; Schwab and John Hancock are reportedly working on similar products. Like any investment product, these funds will be useful for some people. Consumers should be certain that they understand these funds in order to avoid any unpleasant surprises. Read the full article

Listen carefully, and you can hear the $2.6 trillion municipal bond market breathe a sigh of relief. Today the U. S. Supreme Court annouced its ruling in DEPARTMENT OF REVENUE OF KENTUCKY ET AL. v. DAVIS ET UX. It concluded, in a 7-2 decision, that it is not unconstitutional for a state to give favorable tax treatment to owners of its own municipal bonds while not doing so for holders of bonds issued by other states. In an earlier post, I discussed how a different decision in this case would have affected not only municipal bonds but also 529 college savings plans. Read the full article

An idea that seems to have gained a lot of attention through an article by financial journalist Scott Burns is worth examining. Basically, the idea is this: you retire at 62 and apply for Social Security benefits, which are reduced because you're retiring early. Then, at age 70, you withdraw from Social Security, pay back the benefits you've received, and reapply. Now you receive a much bigger Social Security check. Read the full article

The Supreme Court is considering an appeal to Kentucky versus Davis, a lawsuit that could have an impact on the state tax treatment of both municipal bonds and some state 529 plans. Read the full article

I must confess: I expected the IRS to have a hard time meeting its original schedule for delivering tax rebate checks. Read the full article

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