Author Archive

IKE TROTTER: Retirement age decision becomes more difficult

by Published: August 14,2014

Tags: Business, Greenville, Ike Trotter, JACKSON, Mississippi

WHY DO SOME PEOPLE CHOOSE to claim Social Security retirement benefits at the earliest possible age of 62, rather than waiting until their full retirement age (66 to 67 for anyone born in 1943 or later) when doing so would reduce their monthly benefit by as much as 30 percent? Well, there actually are many reasons, […] [...]

IKE TROTTER: Understanding the impact of incapacity

Incapacity is a relatively new medical and financial definition meaning you are unable to take care of yourself or your day-to-day affairs. Incapacity can result from serious physical injury, mental or physical illness, mental retardation, advancing age and alcohol or drug abuse. Even with today’s medical miracles, it’s a real possibility that you or your […] [...]

IKE TROTTER: To Roth or not to Roth

by Published: April 7,2014

Tags: banking, Business, finance, Greenville Ike Trotter, Mississippi

Perhaps some of you struggled through World Literature like I did in school. Frankly, the problem wasn’t my teachers. A lot of it had to do with me and where my mind was at that stage of life. In particular, I remember trudging through Shakespeare’s Hamlet and reciting the well known pronouncement “To be or […] [...]

IKE TROTTER: Health care costs on Social Security

by Published: March 7,2014

Tags: Business, column, Greenville, Ike Trotter, Mississippi

Social Security provides one of the most dependable sources of income for retirees and their families. In fact, for a majority of retirees today, Social Security accounts for at least half of their income (Source: Fast Facts & Figures About Social Security, 2013). What we are seeing, however, is more of that income being spent […] [...]

IKE TROTTER — Personal financial statements can have value

by Published: January 17,2014

Tags: banking, column, finance, Greenville, Mississippi

Many times in the introductory stages of financial planning, it is necessary for advisers to know about the background of the individual or family for purposes of making suitable recommendations. In most instances, information provided from a tax return can be an invaluable tool for assessing the financial makeup of a person or family. However, […] [...]

IKE TROTTER: There are primary changes in Social Security for 2014

by Published: December 6,2013

Tags: Business, finance, Greenville, Ike Trotter, Mississippi, Social Security

The Social Security Administration (SSA) has recently announced that Social Security and SSI beneficiaries will receive a 1.5 percent cost-of-living (COLA) adjustment for 2014. According to the SSA’s announcement, after the COLA adjustment, the estimated average retirement benefit will rise from $1,275 in 2013 to $1,294 in 2014. Here are the other primary changes to […] [...]

IKE TROTTER — Weighing in on reverse mortgages

by Published: November 15,2013

Tags: Business, financial, Greenville, Mississippi

More and more we see on TV or read in the paper about reverse mortgages and the opportunities available for homeowners to “unlock” the equity in their home. I thought it might be helpful to discuss this unique type of home equity loan and the resulting implications they offer to homeowners, particularly those who are […] [...]

IKE TROTTER — The importance to budgeting

by Published: October 4,2013

Tags: banking, finance, Greenville, Ike Trotter, Mississippi

What do most think of when establishing a budget? For most of us, it’s the “oftentimes” painful process of trying to live within one’s income — which is never an easy process. And while a case could be made that this financial process is more effective when introduced at the early part of the year, […] [...]

TROTTER: What lessons can be learned from Detroit?

On July 18, Detroit became the largest American city to file for Chapter 9 bankruptcy. A city once having a population of some 1.8 million has whittled down to less than 700,000. What will happen to the pensions of its 20,000-plus retired public employees? There is for sure the distinct possibility they could be reduced […] [...]

TROTTER: Where did inflation run to?

by Published: July 12,2013

Tags: finance, Ike Trotter, inflation

Consumer inflation, according to the Federal Reserve’s inflation gauge, just hit a 50-year low according to the Personal Consumption Expenditures (PCE) price index, which is maintained by the Bureau of Economic Analysis.1 Besides tracking consumer inflation, the PCE price index measures data like household purchases, a major factor in GDP growth. The core PCE index […] [...]

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