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Young people & Social Security– Don’t Just Sit on Sideline
Bella Devaan has an op-ed piece here in The Boston Herald. She notes the low wages earned by the young and the difficulty in saving for retirement. She states, “Let’s raise the minimum wage, strengthen labor rights, guarantee housing and…
Challenges When Retiring Single
Maurie Backman explains the number of older Americans who are single continues to grow. CNN reports 16 million people 65 and over lived alone in 2022, 3x the number of Americans that age who lived alone in the 1960s. As…
Can You Save Too Much for Retirement?
Yes. In this piece Martin Dasko dives into what happens when you save too much for your golden years — and what you can do to avoid this situation. Consider joy; people may not be motivated to go on the same adventurous…
Why aren’t more people getting the most out of Social Security?
Kerry Hannon tried to make sense of the use it or lose it mindset most Americans have on Social Security. According to a new survey from asset management company Schroders, just 10% of non-retired Americans say they will wait until age 70…
When is Claiming Social Security at 70 a Bad Idea?
Waiting to start Social Security at age 70 is the definitive choice for those wanting to maximize their monthly benefit for life from the program. Experts near universally say people should wait, as benefits grow 8% yearly between 67 and…
Claim Medicare & Social Security at same time at 65?
It might seem like a no-brainer to just start both entitlement programs at age 65. After all, that’s the earliest age to begin Medicare, the health program for those 65 and older, and Social Security pays more at 65 than…
Debt Collection and Social Security– A Primer
Vance Cariaga explains Social Security retirement benefits and Social Security Disability Insurance (SSDI) benefits can at times be garnished to pay certain government debts, including back taxes or federal student loans, and debts for child or spousal support. But, SSI…
Experts Say Too Few Wait Until Age 70 to Start Social Security. More Should.
One thing is clear– holding off on claiming Social Security retirement benefits until age 70 will yield one the largest monthly payments available for the rest of one’s life. Yet a new survey from asset management company Schroders finds just 10% of nonretired Americans…
Married People Must Take Spouse Into Account on Social Security
Christy Bieber notes married people need to have a different calculus when thinking about claiming ages for Social Security. They should think strategically. Spousal and survivor benefits are at stake for couples when deciding when to claim Social Security income.…
Why Wait? The Rationale for Claiming Early
As Joseph Ivan Fishman starts this piece, “When you’re a financial adviser, you soon realize that half of the job is math; the rest is loopholes and therapy. These words ring truest when deciding on when to activate Social Security,…