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Do you know your “Break-even age?”
For those contemplating when to claim their Social Security benefit, it is very helpful to know their so-called “break-even age” – that is, the age at which they’ll collect the same amount of cumulative benefits by claiming at one (later)…
Claiming SS early and investing it, vs. delaying for higher benefit
Many who look to claim benefits want to maximize the amount of money they will receive from Social Security over their lifetime, and the usual way to do that is to delay claiming as long as possible (not later than age…
Time to Rescue United States’ Trusts or TRUST, Act
The Social Security Old-Age and Survivors Insurance, Social Security Disability Insurance, Medicare Hospital Insurance and Highway Trust Fund are in trouble and if nothing changes, the programs’ trust funds are expected to be depleted in the next 13 years. A…
Social Security benefits won’t go as far as you think they will
Although Social Security is an important program that many seniors rely on, planning to live on those benefits alone is not a good idea. The sooner you realize this, the sooner you can take savings matters into your own hands…
Retirement plan participant loans most occur among the financially vulnerable undermining their retirement security
According to a recent study by Custodia Financial, retirement plan participant loans occur most frequently among the financially vulnerable. The number one reason cited for taking plan loans is simply to make ends meet, followed by paying off credit card…
Most Americans make the wrong decisions about claiming Social Security benefits
According to a study released from the financial services firm United Income, about 96 percent of Americans made less-than-optimum decisions about when to begin Social Security benefits. The study also found that the average retiree gave up more than $100,000 of lifetime…
What you don’t know about these Social Security rules could cost you
Social Security income is a major part of Americans’ retirement plans. Indeed, 50 percent of married elderly beneficiaries and 70 percent of unmarried ones get 50 percent or more of their income from it and millions more are getting 90…
The Social Security Insolvency Issue – A Blessing or Curse?
Think how relieved you would feel after your doctor said, “I’ve got some bad news for you. You’re healthy now, but you will die one day.” You’d likely be relieved he didn’t give you six to nine months to live. …
Be careful if contributing to an HSA while on Social Security
Sarah O’Brien of CNBC writes an important and informative piece here for those that regularly contribute to a health savings account (HSA) and plan to tap Social Security past full retirement age. Folks must be careful not to run afoul of…
Social Security Expansion Hits Speed Bumps
Andrew Biggs of the American Enterprise Institute summarizes how the incredulous idea of expanding Social Security benefits has gone from a fringe position in 2012 to solely a Bernie Sanders idea in 2016 to now a mainstay view of all the…