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Increasing Social Security’s Full Retirement Age Could Hurt Today’s Workers
Maurie Backman notes there is increasing interest in increasing the full retirement age, now 67 for those born 1960 or later. That is not surprising, as that reform avoids the benefit cuts now or the tax increases now option. The…
Some People Don’t Have To Pay Social Security Taxes
It’s true. There are four groups of people that are not required to pay the either the 6.2% employer or 6.2% employee side Social Security payroll tax. Ashley Donohoe covers the groups in this piece. They are: 1. Eligible Student…
Should You Cash In Your Home’s Equity?
With Social Security replacing a mere 40% of pre-retirement income, a common question that comes up is whether homewoners should cash in some equity to make ends meet. John Wasik of FORBES address the question. Home values have soared,and if…
Fact check on raising the retirment age
Andre Byik writes in USA Today that Donald Trump’s Facebook ad (Feb 16-24) is FALSE on Nikki Haley’s plan to raise the retirement age. The key line from the narrator at issue is this: “Haley’s plan cuts Social Security benefits…
Social Security day of reckoning coming sooner than you think
Vawn Himmelsbach explains the predicament of Social Security insolvency here. How we got to the point of the coming 20% cuts in less than a decade is covered as well as where we can go from here. Some fixes are…
Be Careful About Retiring in Your 30s or 40s
While not that many can afford to or even want to do it, Kailey Hagen writes about retiring in your 30s or 40s. Retiring this young requires a plethora of savings, and many who pursue this wind up forgoing a…
Investing earlier can help avoid retirement worries later
Lorie Konish notes that workers who are about to retire are far behind where they should be. The shift from pensions to 401k plans has put workers in charge of their own retirements. Saving earlier is the key for younger…
Social Security Check Smaller Than Expected? Here’s Maybe Why
People often grumble about the size of their Social Security checks. They think it should be more, or even worse, were told (via the benefit explanation letter) that it would be more. But three factors might explain reduced benefits. Your…
The 5 Types of Social Security Benefits Explained
Kailey Hagen notes most people are aware of Social Security retirement benefits, and chances are that is what they think of when they hear about the program. But there are four other kinds of Social Security benefits, and you could…
The Best Reason to take Social Security Early? Time.
Edd and Cynthia Staton describe their reasons for taking Social Security early in this MarketWatch piece. Time, which is constantly being spent and cannot be saved, is the reason cited for starting benefits at 62. The writers cite the evidence…