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Why claiming your Social Security benefits at 62 doesn’t pay
The earliest age at which eligible seniors can begin to take their Social Security benefits is 62. However, while it sometimes makes sense to start collecting Social Security as soon as you can, that move can also hurt you and…
Uneasy about your retirement savings strategy?
Do you have a feeling something doesn’t seem right in your retirement savings strategy? Spotting the mistakes early in your retirement plan can lead to years of financial stability. The attached article outlines some warning signs that something might be…
Is Social Security in real danger of running out of money?
Many retirees today count on Social Security to pay the bills, and future retires would more than likely do the same. However, according to a recent study by the Nationwide Retirement Institute, 72 percent of workers 50 and over worry…
Explore your options to make a positive impact to your financial situation
You have been working toward retirement since you took your first job and now it’s finally on the horizon. But what happens if you don’t have enough money saved to retire? There are things you can do if you are…
Picking the right Social Security claiming strategy can help married couples boost their benefits
Married couples can bolster their retirement income by thousands of dollars by carefully timing when each spouse claims their Social Security benefits. Coordinating claims can make the most of the benefits available to each spouse. According to Jim Blair, a…
The Retirement Savings Lost and Found Act of 2018
According to the U.S. Government Accountability Office, more than 25 million workers who left an employer between 2004 and 2013 left at least one retirement account behind. Jeanne Medeiros, the center director of the Pension Action Center at the University…
Eliminate the FICA payroll cap? Not so fast!!
Among the numerous suggestions for “saving” Social Security from both sides of the Congressional aisle, one that seems to resonate most on the left side is to eliminate the earnings cap for the Social Security portion of the Federal Insurance Contributions…
The one thing you should do for National Social Security month
The month of April has been declared National Social Security month which, the agency hopes, will shine a spotlight on this program that touches the life of nearly every American citizen. And in keeping with the inexorable use of technology for…
Social Security: A “break-even analysis” vs. assessing “longevity risk”
Deciding when to claim Social Security benefits is an exercise that everyone approaching age 62 will have to do, and very often a breakeven analysis – the age at which you will be “money-ahead” vs.claiming at a different age – is,…
Retirees are pessimistic about Social Security
Though not in any danger of going bankrupt, the Social Security program is nevertheless on shaky ground when it comes to paying 100% of promised benefits to retirees. That’s because the program’s Trust Fund reserves will start to be withdrawn to…