Headlines
Waiting to claim benefits is often, but not always, a good choice
Most advisors will counsel that the longer you wait to claim Social Security, the more your benefit will be. And, provided it is permitted by health and financial status, this is wise counsel in most cases when talking about one’s…
What’s the real impact of claiming Social Security early? Or later?
The rules are pretty simple – if you claim Social Security before you reach your full retirement age you’ll get less; and if you wait until after your full retirement age you’ll get more (“full retirement age,” or “FRA,” is…
Social Security’s asset reserves explained
The Center on Budget and Policy Priorities finds that Social Security is responsible for keeping more than 22 million people out of poverty, including over 15 million seniors, whom the program is first and foremost designed to protect. No matter…
Working until 70 looks good on paper, but not everybody can work longer
A simplistic solution to the brewing U.S. retirement crisis is to get people to work until 70 before retiring and 85 percent will have the money they need for retirement. Alicia Munnell, director of Center for Retirement Research at Boston…
Entrepreneurship: Not Just for the Young
Older or should I say “experienced” adults are experimenting with different ways to stay attached to the economy, including self-employment, entrepreneurship, full-time jobs, part-time work, flexible employment and encore careers. According to the U.S Bureau of Labor Statistics, between 1995…
Financial literacy has a huge impact on having a more financially secure retirement
A recently published research study shows that financial literacy has a huge impact on having a more financially secure retirement. The research conducted by The American College of Financial Services, asked a number of questions around retirement, financial planning and…
When it pays to claim Social Security right away
They say that good things come to those who wait, but is that true for Social Security? Millions of retired seniors count on Social Security to keep up with their living expenses, which is why claiming benefits at the right…
Social Security PLUS – A Voluntary Companion Benefit
In my nearly 15 years teaching high school economics classes, no single lecture ever garnered higher interest and attention than the one I dubbed, “How to Be a Millionaire by 45”. With “Pay Yourself First” written on the whiteboard behind…
The political party responsible for Social Security’s financial instability is…
Well, it’s both of course. As Sean Williams writes in this piece, neither party has fully addressed the looming partial insolvency due to occur in 2034, when benefits will have to be cut 21% across the board. Past surpluses are preventing…
Cost of living adjustments – Don’t bank on them
Maurie Backman provides a brief history of COLAs (cost of living adjustments) in this piece. Begun in the 1970s, their purpose was to prevent retirees from sliding backwards, as dollars lost value over time due to rising prices. Backman further points out…