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An Analysis of Claiming Ages and the Impact on Benefit Amounts
As most folks approaching the point of claiming Social Security benefits, the age at which you file makes a significant difference in the amount of that monthly payment. The Motley Fool’s Adam Levy illustrates this difference in a series of…
A Word of Caution Amid the Euphoria of a Slight Improvement
The media airwaves are awash in reports about the one-year setback in Secutiry’s point of insolvency. Good news? Yes, of course, but before we join in the giddiness, it’s important that we stay focused on the reality that the new…
Thoughts on Meeting Retirement’s Financial and Healthcare Challenges
Nobody said it would be easy, and the closer many soon-to-be retired folks get to the goal line, the larger the challenges seem to loom. With savings levels down and the estimates of wealth required to retire comfortably steadily drifting…
Retirement Savings Goal…A Moving Target
It wasn’t that long ago that the popular phrase went something like this, “I’ll need a million dollars to retire.” Well, that was then, this is now, and the mythical goal line for accumulated wealth is continuing to stretch. Now,…
Social Security Fundamentals for Married Couples
Spousal benefits and survivor benefits are two of the murkier aspects of Social Security. Not having a clear understanding of the eligibility rules accompanying these areas can cause married couples to miss out on benefits that have been written into…
Retirement Planning: Where do you get your advice?
Planning for a financially secure retirement is, for just about everybody, a daunting process. To be effective, it requires careful analysis, tough decisions, and appropriate consideration of advice from qualified sources. Emphasis on this last point is qualified and, as…
Retiring Soon? Check out this book list
Retirement is a new stage of life for many, but it can be fraught with peril as folks navigate how much to save and spend and where to draw income. Carole Hodorowicz of Morningstar has a list of seven books…
Retirees: Beware These 3 Tax Hits
Taxes are a fact of life, but those on fixed incomes need to be especially vigilant. Interest income, including on bonds, is taxable, though municipal bonds can escape taxation. Taxes are also due on required minimum distributions and Social Security…
Clawback Cruelty to End
We’ve all seen the headlines of the Social Security Administration (SSA) coming in and taking someone’s entire benefit away citing an error made years ago in calculating it. Well, as Tracey Longo writes here, that is no more. The SSA…
Beware the Retirement Trap No One Talks About
Lou Carlozo of Yahoo Finance goes beyond withdraw rates and the “when should you start Social Security” in this piece. He writes the most common retirement trap is “going into retirement without knowing how much [money] is enough and constantly…